21 Unconventional Ways to Save Money in 2024

Let’s face it, the constantly rising cost of living is making all of us think that saving money in 2024 is nearly impossible. We all want to try and save money, but between bills, unexpected expenses, emergencies, daily indulgences, and life in general, it’s easy to feel like there’s nothing we can do.

To help choose the right methods to help you save on expenses and achieve your financial goals, in this extensive guide, we’ll go over some 21 practical and creative ways to save money!

Why Saving Money Creatively Matters

Passive income has become a widely trending topic in recent years, but with all the social influences sharing their wild success stories, it’s easy to feel like you’re missing out. However, coordinating your spending habits with saving habits is just as important, if not more.

Finding the right saving methods is key, but with the economy becoming increasingly unpredictable with inflation, unpredictable costs, a skyrocketing real estate market, and stagnant salaries, traditional saving strategies might not be enough.

Sometimes, especially if you’re on a tight budget, you just have to get a little creative. The key to successful saving isn’t always about extreme lifestyle changes or cutting out everything you enjoy.

In truth, it’s more about small habits and increased mindfulness when dealing with monthly budget questions. And you can start doing that right now, like saving $10 from your weekly paycheck, which would result in $520 at the end of the year.

In the following lengthy section, we’ll go over separate parts with 21 unique strategies to start saving money wisely and in a more sustainable way for the future.

Creative Ways to Save Money on Everyday Expenses

1. Stay Healthy to Save Money

That’s right, one of the easiest but perhaps also the hardest habits you could change concerns your health. Contrary to the popular misconception, eating healthy will always be more beneficial in terms of finances and health.

In fact, according to Forbes, eating out is 5 times more expensive than staying home and eating a home-cooked meal. But that’s not all. Eating a balanced diet and exercising regularly to maintain your health also translates to less costly medical bills and reduces healthcare expenses.

Pro tip: You don’t need an expensive gym membership to stay fit. Sure, personal trainers help, but the ideal Instagram-perfect body is also a full-time job, something that’s simply not sustainable for most of us.

What we really have to focus on is our individual health goals. Once again, YouTube is full of trainers sharing their knowledge. Just pick one with no equipment sessions and try it out!

2. Be Environmentally Conscious 

Saving money and helping the environment often go hand in hand. By adopting eco-friendly habits, you can significantly reduce your utility bills and daily expenses while also lowering your carbon footprint. Small changes to your routine can lead to big savings over time.

You can start small, like switching to LED lightbulbs to lower electricity bills. Another habit that’s easy to change is running your washing machine only when you have a full load.

Pro tip: Invest in a reusable water bottle. According to Worldmetrics, reusable water bottles can save the average person $400 per year compared to buying bottled water. 

3. Mindful Spending: Stop Impulse Purchases

It’s tempting to shop for things even when they’re not necessary. However, we should always strive to shop with intention. When you enter a supermarket without a clear plan, you’ll probably stop at every section and end up with more things than if you had a list.

Start by putting your $5 notes aside whenever you get home. Slowly but surely, your savings will add up. This act will make you more conscious of the power of seemingly small change.

Pro tip: Try using the 30-day savings rule. It’s essentially a buying rule for unnecessary expenses, which involves waiting 30 days before making unplanned purchases.

Bonus tip: Get a good old journal to track your expenses. The process might seem troublesome now, but once you get into the habit of writing down at the end of every day how much you spent and on what, your spending habits will soon become very apparent.

4. Make Your Own Cleaning Supplies

One of the best ways to nail environmental problems and cut costs is to make your own cleaning supplies. Lots of households already do this to eliminate the use of chemicals, and all it really takes are a couple of basic ingredients: vinegar, lemon, baking soda, and essential oils.

A homemade all-purpose cleaner with vinegar and water can cost as little as $0.50 per bottle. In contrast, store-bought product prices average around $3 to $8, and that’s not including the higher-end cleaning supplies.

By this logic, if your family has to buy a single new cleaning product per month that costs $96, you’d be spending $240 per year. But if you go with the all-purpose vinegar cleaner, you’d be spending only $6 per year and save $90! Just keep in mind that homemade cleaning supplies can’t substitute dedicated cleaners for eliminating harmful bacteria. 

Creative Financial Habits

5. Automate Your Savings

If you want to start saving but not think about it, why not automate the process? Most banks offer automation processes where you can select the percentage or amount of money you wish to be transferred from your checking account to your savings account.

Let’s say you set an automation to transfer $50 every week. This will lead to an extra $2,600 in a year without you actually actively contributing. Additionally, to make the process simpler, you can use budgeting apps like Qapital, Chime, or other apps to round up everyday purchases and save the difference.

6. Tie Savings to Personal Goals

Savings goals can really boost motivation, but too often people give up simply because there’s no personal goal behind them. Personal goals could also be very real and immediate needs, like going on a vacation, committing to a health program, or saving up for important home renovations.

For instance, every time you go out and treat yourself to a cup of coffee, set aside $5. If you do that at least 2 times per week, this would result in $520 annually. According to Forbes, a goal-based savings strategy helps people to reach their goals faster.

7. Participate in Savings Challenges

Another great way to boost motivation is to participate in savings challenges! One of the most popular challenges is the so-called 52-week savings challenge.

The challenge goes like this: you start the new year by saving $1 in the first week. Then, in the second week, you save $2, then finally $52 in the final week. At the end of this challenge, you will have saved $1,378.

You can help yourself to finish this and stay on track, you can use savings apps like Simple or YNAB or a simple Google Sheets/Excel chart to monitor your progress throughout the year.

Creative Ways to Save on Monthly Bills

8. Compare and Negotiate Bills

You may not be a person with negotiation skills, but it can help you save money on recurring bills. At the end of the payment period for your phone, internet, insurance, or other, you can try and negotiate a lower price.

Providers are keen to keep their customers, so more often than now, they may offer special promotions or discounts if you ask. For example, if you use a lot of internet, negotiating a 10% discount on a $100 monthly internet bill saves $120 annually.

Additionally, you can experiment with price comparison tools like Billshark or Rocket Money to compare rates on utilities, insurance, streaming services, and more.

9. Save on Utilities

It’s reported that an average family in the USA spends around $6,000 – $7,200 on utility bills every year. This makes it one of the key factors to review to cut costs significantly.

While there are a myriad of different things you can do to reduce utility bills, you can start small. Installing a smart thermostat can save up to 10% on heating and cooling costs, and add up to extra money at the end of the year, $180 to be exact!

Additionally, according to Energy.gov, reducing heating and cooling costs by up to 15% can collectively save $200 to $400 annually on utility bills.

10. Cut Subscriptions You Don’t Need

With all of these new apps, tools, and streaming services offering convenient free trials can add up, without you even noticing. For example, when was the last time you checked the Subscriptions tab on your iPhone? If you find any subscriptions you don’t use, cancel them easily!

Another good example would be canceling an unused streaming service which usually costs around $12 per month. If you cut the subscription, you could end up saving $144 in a single year.

Creative Ways to Save on Food

11. Meal Planning and Cooking in Bulk

One of the more creative, sustainable, and long-lasting actions you can take is to start meal planning. We’ve grown way too used to fast food and take-outs, which in turn made the process as easy as getting food delivered to your door with a couple of taps of your smartphone.

If you choose to start meal planning, you’ll not only save money on impulsive purchases, but you’ll also build healthier habits. To put this into perspective, studies show that an average family in the USA spends roughly $1,500 on uneaten food. This only goes to show the potential savings you can tap into with meal planning.

12. Pack Your Lunch

Continuing the thought of saving money by changing eating habits, the same goes for packing your lunch instead of eating out. Yes, it’s convenient, and with so many restaurants offering lunch discounts, you might think you’re not spending that much.

However, in reality, one person reports that they spend $2,000 eating out per year, according to Business Insider. That’s why meal planning is so important. It’s the literal definition of shooting multiple targets with a single shot.

13. Buy in Bulk

To expand the meal planning topic, buying groceries in bulk is a proven way to save on non-perishable goods like canned food, pasta, rice, and frozen products. This also includes household items like toilet paper, cleaning supplies, and many others.

Buying larger quantities often leads to paying less per item. The trick here is to plan well and estimate what you’ll actually need without unnecessarily buying too much. If you can outline your needs for a longer period, you can save an average of 5% per unit or item if you buy in bulk.

Creative Ways to DIY and Repair

14. Repair, Don’t Replace

Home appliances and gadgets are getting smarter and more convenient, but with the greater need comes many competitors with various alternatives. We might be tempted to quickly replace malfunctioning items with new ones, but if we choose to repair them, we can save quite a bit.

This goes beyond just gadgets, you can also repair worn clothes. For example, you can have a broken toaster or a pair of pants fixed rather than thrown away.

Moreover, you can learn how to repair simpler items yourself with the help of many YouTube DIY tutorials and guides. Plus, this also works towards becoming more conscious of your consumer habits!

15. DIY Haircuts and Beauty Treatments

This may be a bit different, but if you cut your hair at home, you can save a substantial amount of money. If you learn how to do simple styles and apply basic treatments, you can save from $250 to $300 per year.

In addition, you could do the same with manicures and pedicures at home. On average, a single session can typically cost around $30 per month. But if you learn how to do your own manicures and pedicures, you could save up to $360 per year, not including the initial cost of getting the items you need.

Creative Ways to Maximize Rewards and Discounts

16. Use Cashback and Rewards Cards

Discounts and credit card cashbacks can be a great way to save money on everyday purchases in the long run. Whether it’s buying groceries, fuel, or other essentials, you can earn a specific percentage depending on the credit card you choose.

Honey is a popular browser extension that notifies users before purchasing anything online whether there’s a promo code or a discount for the item you’re buying online. According to NerdWallet, savvy card users can save between $100 and $300 annually just by strategically using cashback and rewards cards.

17. Sign Up for Store Loyalty Programs

Loyalty programs are another effective method to save extra cash on the things you buy regularly. This could be anything from clothing retailers to grocery stores, many of them provide exclusive members-only discounts, points on purchases, and special promotions.

Plus, it’s becoming a popular strategy in the catering service as well. Many popular coffee shops and fast food restaurants have started offering special cards which allow you to amass a specific amount of points to earn a free coffee or meal.

Creative Ways to Prevent Shopping Temptation

18. Clean Your Inbox

Attention shopaholics. What we discussed in the previous section about subscribing to loyalty programs might not be the best strategy for you. The problem lies in the unprecedented accessibility to consume goods. But it’s more than that, consuming and “treating ourselves” has become intertwined with emotional support and gratification.

So, one of the best things to do if you have an inclination for shopping is to simply unsubscribe from marketing emails and remove retailer notifications from social media. Email marketing is a great tool lots of companies use to increase their revenue, by over 34%. Cutting out distracting emails can help you reach your financial goals quicker.

19. Create a Wishlist and Wait for Sales

Removing yourself completely from promotional content and deals don’t have to be definitive. Once you control what marketing content you subscribe to, you can start a dedicated wishlist for the items you want (and need) to purchase.

Setting up a wishlist can be a great way to fight the familiar fear of missing out (FOMO) and save money. Hence, when you find an item you want to buy, save it to your wishlist, and revisit it after 30 days, and if you still need it, purchase it once there’s a deal.

Advanced Creative Savings Hacks

20. Start a Garden

In the last section of this article, let’s look at a couple of other methods to kickstart your financial goals. One of which ties to healthy and environmentally friendly actions – starting a garden! Learning how to grow your own vegetables is a great skill, and it’s budget-friendly.

In fact, it’s estimated that a small garden can save you around $530 per year, including the initial price of setting up the garden. Just note that the yearly yield depends on the vegetables you choose to produce. Not to mention the health benefits of consuming cleaner and fresher foods!

21. Participate in Bartering or Buy Nothing Groups

Finally, there’s another strategy which to some, is more than a means to save money – it’s an entire lifestyle choice. Engaging in bartering or joining Buy Nothing groups can be an effective way to save money and get much-needed items or services without spending money.

In particular, community-driven exchange groups allow you to trade goods, services, and skills with your friends, families, neighbors, and like-minded people.

A simple example would be when two neighbors would exchange mowing lawns to repairing home equipment. This way, both parties receive what they need, and pay back with an action or item that benefits the other party.

Wrapping Up

Saving money successfully and continuing to do so doesn’t mean getting a high-paying job. What really counts are the strategies and small everyday changes you make.

Sure, winning a million at a lottery can certainly help, but it won’t mean anything if you don’t have the right mindset and financial literacy. So, if you want to see what changes you can make to grow your savings account, try out the methods in this article!

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