20 Simple Ways to Save $500 a Month Without Feeling It

Although saving money can be difficult, there are little, easy adjustments you can do to reduce expenses without sacrificing anything major. Whether you modify daily routines or change your attitude about spending, this article provides 20 simple strategies to save $500 a month. These strategies are meant to be reasonable and simple, so you won't feel deprived as you strive toward your savings target.

Tricia Quitales
February 12, 2025
5 min read

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This article looks at twenty simple and sensible strategies to save $500 a month without feeling deprived or under pressure about your finances. Every recommendation is simple to follow and requires little modification of your way of life. From reviewing your monthly subscriptions to reducing daily spending, these ideas offer a range of choices to enable you create savings. You can save $500 a month while still living and not missing up on the things you love by planning and paying attention to your spending patterns.

1. Cancel Unused Subscriptions

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Review your subscriptions closely and cancel those you hardly use on a regular basis. Many streaming services, periodicals, or applications go overlooked unless you understand their monthly cost. Eliminating only a few will help you to readily save $50 to $100 a month.

2. Cook More at Home

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Ordering food or dining out can rapidly sap your income. Simple home cooking of basic meals helps you to save money and enable better choices. Buying in volume and organizing your meals will help to control expenses.

3. Use Public Transportation

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If you pay for gas, parking, or car upkeep, public transit can be a major financial savings tool. Try getting on a bus, train, or even walking rather than driving everywhere. This little adjustment can save hundreds yearly.

4. Cut the Cable

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There’s no need to keep paying for cable given the plethora of streaming choices. To cut costs yet still enjoy your favorite shows, switch to Netflix, Hulu, or Amazon Prime. Ditching the average cable bill will quickly save you that much or more every month as it can be over $100.

5. Buy Generic Brands

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Though they cost a fraction of their brand-name equivalents, many generic items perform exactly as well. This relates to everything, including house cleaners and groceries. Changing to generics can save you $50 or more every month.

6. Reduce Energy Consumption

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Little changes in energy consumption can translate into significant savings. When not in use, turn off lights; unplug appliances, and use energy-efficient bulbs. Over time, these habits can significantly cut your power consumption.

7. Set a Weekly Grocery Budget

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Staying to your budget and organizing your supermarket visits helps cut impulse purchases and unneeded spending. List your weekly meals and only buy what you really need. By saving $100 a month or more, this can help you significantly lower food expenses.

8. Shop with Coupons and Discounts

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Coupons and bargain shopping can result in really large savings. Many stores have applications that simplify discount search or weekly sales. Invest a little time looking for these offers to save $50 to $100 a month.

9. Refinance Your Loans

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Think about refinancing to cut your interest rates if you have a mortgage, auto loan, or school loan. Less interest means you will pay less every month. This adjustment will save hundreds every year and drastically cut your monthly spending.

10. Limit Coffee Shop Visits

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Even if that morning coffee seems like a little cost, if you go every day, it can soon mount up. Try making coffee at home and then packing it to travel. Just saving $5 a day can total more than $100 a month.

11. Buy Used Items

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Try shopping secondhand rather than brand-new furniture, electronics, or apparel. Great prices on gently used goods abound from thrift stores, internet markets, and garage sales. On non-essential buys, this can save you $50 or more every month.

12. Use Free Entertainment

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Keep amused with free neighborhood events, museums, or outdoor pursuits. Many communities provide outdoor movies, free festivals, or concerts. These decisions let you enjoy free from expensive trip costs leisure time.

13. Automate Savings

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Create automated transfers to your savings account to consistently save money without even considering it each month. Over time, even little amounts like $25 a week add up. This lets you save easily and yet live your life.

14. Limit Online Shopping

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Just a few clicks will let you easily overspend online. Limit your internet buying to particular days or try not purchasing at all unless absolutely necessary to help with this. Just a basic “no impulse purchases” guideline will save hundreds per month.

15. Negotiate Your Bills

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Many service providers—including insurance, phone, and internet companies—are eager to work on pricing. Ask them to seek for a better price or bring up your intention to change providers. On necessary services, this can typically save you $50 or more every month.

16. Pack Your Lunch

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Plan your meals ahead of time instead of daily lunch purchases. Along with saving money, this will help you eat better and regulate portion amounts. Lunch packing can easily save $10 or more per day, which up rapidly.

17. Review Your Insurance Policies

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Examining your auto, house, and health insurance plans closely will help you see for discounts you might be qualified for and compare costs. Monthly savings from changing providers or coverage can be really large.

18. Limit Alcohol and Dining Out

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Your budget will clearly benefit from cutting your alcohol intake and dining less frequently. Cook at home and savor meals with friends and family rather than in pricey restaurants. You might save between $100 and $200 every month from this.

19. Use Cashback Apps

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Get daily purchase rebates from cashback apps. Apps like Rakuten or Ibotta let you make money back-off on groceries, clothes, even travel. These benefits might soon mount up and enable you to meet your saving targets.

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Think about cutting your living area or splitting house expenses with a roommate. Rent, utilities, and other living costs can be much lowered in a smaller apartment or shared space. You might save several hundred dollars every month using this approach.