50 Genius Ways to Save $500 This Month

by

How does an extra $500 sound this month? Whether you need a little extra cash when you are budgeting your finances or working toward financial freedom, these creative tricks can help you stash away $500 (or more!) this month.

household budget- calculator, cash and list of expenses

Cut Unnecessary Expenses

  1. Call your internet provider– Ask for a loyalty discount or switch to a lower-tier plan.
  2. Use a prepaid phone plan – These often cost much less than traditional contracts.
  3. Rent out your parking spot – If you have extra space, list it on a rental app.
  4. Join a “Buy Nothing” group – These groups let you swap or receive free items instead of buying new.
  5. Create a “spending swap” challenge – Swap one paid activity per week for a free alternative.
  6. Set up bill autopay for discounts – Some companies give a small discount for automatic payments.
  7. Use a cashback credit card responsibly – Pay it off in full and earn rewards on purchases.
  8. Cut back on pet expenses – Make DIY pet treats or groom your pet at home.
  9. Rent out your stuff – List tools, baby gear, or sports equipment on rental platforms.
  10. Use competitor price matching – Many stores will match a lower price if you ask.

Slash Your Grocery Bill

  1. Join a local produce co-op – Get fresh, seasonal food for less.
  2. Grow microgreens at home – They’re easy to grow and save money over time.
  3. Use community fridges or food rescue apps – Some places offer free or heavily discounted food to prevent waste.
  4. Ask your favorite store about markdown times – Shop at the right time for deep discounts.
  5. Turn grocery receipts into gift cards – Apps like Fetch Rewards let you scan receipts for points.
  6. Make your own spice blends – Buying individual spices in bulk is cheaper.
  7. Find a grocery store buddy – Split bulk purchases and share savings.
  8. Stock up during annual pantry sales – Look for deep discounts on staples.
  9. Ask for “ugly produce” discounts – Some stores offer deals on slightly imperfect fruits and veggies.
  10. Check salvage grocery stores – These sell overstocked and near-expiration items at steep discounts.

Cut Transportation Costs

  1. Use a fuel rewards credit card – Earn discounts on gas purchases.
  2. Drive for a delivery service part-time – Even a few hours a week can add up.
  3. Switch to a pay-per-mile car insurance plan – Ideal if you don’t drive much.
  4. Rent out your car when you’re not using it – Services like Turo let you earn extra cash.
  5. Check tire pressure weekly – Proper inflation improves gas mileage.

Reduce Utility Bills

  1. Hang clothes to dry – Skip the dryer and save on electricity.
  2. Use draft stoppers – Keep heat or AC from leaking out of doors and windows.
  3. Switch showerheads – A low-flow showerhead reduces water and energy costs.
  4. Use heat-resistant curtains – Keep your home cooler in summer and warmer in winter.
  5. Run appliances during off-peak hours – Some energy companies charge lower rates at night.

Smart Money Moves

  1. Sell old gift cards – Unused ones can be sold for cash online.
  2. Join mystery shopping programs – Get paid or reimbursed for checking out businesses.
  3. Review your payroll deductions – Make sure you’re not overpaying for work benefits you don’t use.
  4. Negotiate a bank fee refund – If you get charged a fee, call and ask for a refund.
  5. Return your returns – Return your returns. Instead of letting unwanted or unused purchases float around your house or trunk- pick a day and make it happen.

Fun for Less

  1. Volunteer for free event access – Work a short shift at festivals or concerts for free admission.
  2. House sit or pet sit for vacations – Travel while saving on lodging.
  3. Host a clothing swap – Refresh your wardrobe for free.
  4. Find “kids eat free” nights – Many restaurants offer free meals for kids on certain days.
  5. Try “experience gifts” instead of buying stuff – Give or request outings instead of material items.

Cut Kids’ Expenses

  1. Sign up for birthday freebies – Many places offer free food or fun for kids’ birthdays.
  2. Borrow baby gear – Some libraries and community groups lend out baby essentials.
  3. Host a “toy rotation” with friends – Swap toys every few months to keep things fresh.
  4. Sign up for free kids’ workshops – Many hardware stores and craft shops offer free DIY classes.

Save on Home Expenses

  1. Repurpose furniture instead of buying new – A fresh coat of paint can transform old pieces.
  2. Use a rain barrel for outdoor watering – Save on your water bill.
  3. Check Facebook Marketplace for free curb alerts – People often give away great stuff.
  4. Refill printer ink instead of buying new cartridges – Many office stores offer refills for less.
  5. Batch cook and freeze meals – Reduces food waste and energy costs.
  6. Use LED light bulbs – They last longer and cut down electricity costs.

Try even a few of these ideas, and you’ll be amazed at how quickly the savings add up! Which ones will you start with this month?