I’m not one to advocate a frugal lifestyle just for the sake of being frugal, but the reality is that many people are struggling to make ends meet (let alone save for the future). Covid, inflation, income loss, medical bills, and jobs that just don’t pay you enough are among the many reasons why so many of us might be looking for ways to cut expenses right now. 

Whether you are trying to pay off debt faster, save more for other goals, or just want to get a handle on your expenses, here are 19 ways that you can spend less and find more money in your budget. 

1. Lower your insurance costs

Home and auto insurance rates can creep up over time and it’s important to periodically check for lower rates by shopping around. In addition, raising your deductibles is a great way to lower rates. Just make sure you have enough in your savings to cover the deductible if something were to happen. 

2. Switch to free bank accounts

Many banks are now offering free accounts even without requiring that you have a minimum balance, direct deposit, and make a certain number of qualifying transactions. The days of jumping through all the hoops for your free bank account are over. Unless you have some reason for wanting to pay fees at a bank, there is no reason you need to do so. Go to a site like NerdWallet or BankRate to find the best free bank accounts. 

3. Get rid of credit card fees

Many people love their credit card rewards programs, but they’re not right for everyone. If you have a credit card that has a fee, you must make sure that you actually benefit from the rewards. If you’re one of those people who lets the benefits build up only to lose them because you didn’t travel enough (or whatever the benefit is), get rid of that card. 

4. Get a cash back rewards card (with no fees)

Instead of a rewards card with fees (see #3), sign up for a free cash back rewards card and use the money you accrue to pay off your credit card each month. No fees plus saving money? Yes, please!

Just make sure that you can pay your credit card bill in full each month. If credit cards are your downfall when it comes to overspending, skip this one and stick with cash. 

5. Cancel subscriptions and memberships, especially those you aren’t really using

Are you using your gym membership enough to justify it? Did you sign up for a membership program when you were feeling inspired only to use it for three days and forget about it? (I’m so guilty!) Or maybe you bought a subscription to an online newspaper that you never read? 

Go back through your credit card statements and find things that you pay for that you don’t use and cancel them. Even if you don’t get a refund, you’ll at least prevent it from auto-renewing. 

6. Cut back on the streaming services

This may be challenging for people who like to have all of the options, but do you really need to have every single streaming service? Are you able to take full advantage of all of them every single month? If you think about it, you probably don’t have time for that. Instead, consider reducing the number of streaming services you have at any one time. When you get bored with Netflix, you can always cancel it and sign up for Hulu for a while. 

7. Find a cheaper cell phone plan

Shopping around for cheaper cell phone plans is easier than ever with the rise of alternative mobile providers in recent years. Switching carriers, using wi-fi, and keeping your phone longer are all ways to lower your cell phone bill. 

8. Reduce internet and cable costs by shopping around or negotiating your rates

Switching internet and cable providers can be an easy way to lower your bill. If you live in an area without options, try negotiating or downgrading services. If all else fails, see if you can cancel some services and find alternative ways to watch tv. 

9. Negotiate or refinance to lower interest rates on your debt

You might be able to save money by refinancing or asking for lower interest rates on your credit card debt. Use a mortgage refinance calculator to see if it’s a good idea for you. With credit cards, call your lender to ask for a lower interest rate. This works particularly well if you’ve been making consistent payments.

10. Shop around to find better prices

Whenever you’re ready to make a more major purchase, it’s worth it to shop around a little. Do a quick Google search to see if it is available for less (don’t forget to factor in shipping costs). If you’re not committed to a particular brand, you can also search stores that tend to be less expensive for similar items. Remember, you don’t always have to get the most well-known, popular brand. 

11. Watch for sales 

Sales are often cyclical. If you know when things are on sale and you’re not in a hurry, it can be worth it to wait. TVs tend to be on sale before Christmas and around the Superbowl. Mattresses are frequently on sale around holidays like President’s Day, Memorial Day or Labor Day. Clothing stores go through regular, frequent sale cycles as well. If you watch the store’s website (or sign up for their emails), you can buy things when there is a bigger discount. 

12. Stock up on items you know you’ll use when they’re on sale

Things like chicken broth, dry pasta, or that cereal your kids eat by the pallet can be bought in bulk when they’re on sale since you know they won’t go bad. Just make sure it’s something you’ll really use. 

13. Shop at a less expensive grocery store or switch to store brands

Shopping at Aldi or a similar, cheaper grocery store can have a huge impact on your budget. If you don’t have access to a store like that, consider buying more store brand items. 

14. Find free activities

Do some searching or ask your friends what free activities they enjoy in your area. You might be surprised by just how many options there are. You don’t have to give up all of your favorite (paid) experiences, but getting into the habit of enjoying free things can really free up some money in your budget.

15. Have friends over instead of going out (and encourage everyone to lower expectations around cooking and cleaning)

Having people over doesn’t have to involve formal dinner parties or fancy teas. If your friends are like most people, they’ll still enjoy having a cup of coffee with you even if your home isn’t immaculately clean. Sharing a bottle of wine and some appetizers in the backyard can be just as fun as paying five times that in a restaurant. 

16. Before buying something new, search for things you already have that could fill the need

Searching for a new piece of furniture or new living room decor? Shop the other rooms of your home first. You might just find that moving things around or painting an old dresser does the trick. Plus, we all know we’ve got a huge selection of things in our basements waiting to be put on display again. 

17. Buy used

Most of us buy way too much stuff and eventually have to get rid of it, so there’s lots of good stuff to be had at second hand stores, online buy/sell pages, or yard sales. Kids clothes and toys are particularly good items to buy used as kids grow out of things so quickly. 

18. Use your local library

If you haven’t made use of your local library recently, it’s time for a visit. Not only do they have the usual collection of books, they also allow you to check out ebooks and audiobooks for your phone or e-reader. Plus, they often have free events for both kids and adults. 

19. Be mindful of your energy usage

Get a home energy audit to make sure your home is using energy as efficiently as possible. In addition, turning the thermostat down in the winter and up in the summer can be an effective way to reduce your energy bills. 

All of these are great ways to reduce expenses to free up money in other parts of your budget. But more important than any one action is your mindset: appreciating what you already have can increase your life satisfaction and reduce the desire to always be wanting and buying more. Take some time to look at things you already have and thank them for the jobs they’re doing. Being thankful for what you have not only helps you spend less, but it also leads to increased life satisfaction in general. 

In the end, the goal of spending less is never simply to spend less. Being frugal for the sake of being frugal can mean that you miss out on enjoying life. When you look for ways to save money, do it as a way of making other goals happen. 

Sometimes that means getting out of debt and attaining financial stability. Other times, it means being able to save more for the future or spend more on things that you really love. Life is about making intentional choices on how you’re going to spend your resources (time, money, and energy) to build the best life for you and your family. 

So as you go through this list and find ways you can spend less, think about it not in terms of giving up all sources of joy in life, but rather as making choices about the things you want most in life.