19 Money-Saving Tips I’ve Used to Keep a financially stable life
I’ve had over a 50% savings rate for 8 years now. At some points, it’s gotten up to 75% when I was being extremely frugal. While some of the things I did were pretty extreme, a lot of it comes down to consistent small changes over a long period of time.
In this post, I wanted to share 19 different money-saving tips. Some of them you have most likely never heard before. I know there’s a lot here, so just pick a few. They can really make a big difference.
1. The 101 Rule
If you haven’t heard of this rule, it’s a Chinese principle that I actually heard from Humphrey Yang.
It’s simple:
- If you make $10, try to live off of $1.
- Most likely, it’s not going to happen — it’s going to be $5, $8, or $9 — but in general, if you keep that principle of trying to live on as little as possible and save 90%, even though it’s probably never going to happen, you will most likely never run out of money.
For me, I have a rule: I need to keep at least a 50% savings rate. It took me quite a few years to get there, but once I got there, I’ve done whatever it takes to keep it there — including saving extra money.
2. Live Off One Income
This might seem basic, but very few people do it, and it was a huge help for me.
I would live off of one income (generally my day job) and anytime I had a side hustle, a bonus, tax returns — anything like that — it always went into savings or investing. I made sure I could survive off one income, and everything else went into buying myself freedom, which it eventually did.
3. Use Tools to Your Advantage
A few tools I’ve been using for a while:
- GasBuddy – Finds the cheapest gas. If it’s only a 5–10¢ difference, it’s not worth driving extra. But sometimes you can find gas 50¢ or $1 cheaper.
- Honey or Capital One Shopping – Automatically searches for discount codes when shopping online. I’ve saved multiple hundreds of dollars from doing this, and it takes almost zero effort.
4. Join a Buy Nothing Group
These are local groups (not everywhere yet) where neighbors can:
- Share items
- Trade services
- Borrow things
- Donate to people they know
It’s a cool way to save money, help the environment, and build relationships.
5. DIY Cleaning Supplies
For example, we use vinegar and water as our all-purpose cleaner.
- It’s so much cheaper than store-bought.
- It’s better for you than the chemicals from the store.
- You can go further with baking soda and other natural cleaners.
6. Repair Instead of Replace
Very few people do this, but it’s huge.
- Use your clothes until they’re worn out.
- Use your phone or laptop until they actually stop working.
- Keep your car as long as it runs well.
Many people buy just because they want to upgrade, not because they need to.
7. Negotiate Your Bills
My grandfather saved thousands of dollars on car insurance by switching companies. He called around when it was time to renew, and it paid off.
Phone plans are another area. I switched to Helium Mobile — $20/month for unlimited everything — and I’ve noticed no difference.
8. Set Up Automatic Savings
Take a certain amount out of your paycheck every month and put it into your future. Whether it’s a set dollar amount or a percentage, put it into a high-interest savings account or investment account.
If you don’t have financial goals, you’re guaranteed not to hit them. My reason (“why”) has always been buying myself freedom, having time with my kids, and traveling — things I could do because of the years of sacrifice I put in.
9. Food Money-Saving Tips
- Cook in bulk – Freeze meals for later.
- Change grocery stores – Price differences can be 30–50%.
- Never shop hungry.
- Avoid name brands – Store brands are often the same product.
- Bring your own water bottle.
- Skip drinks when dining out — they have the biggest markups.
10. Embrace Minimalism
When you embrace minimalism, you stop buying things to make you happy.
Rules I use:
- 7-Day / 30-Day / 90-Day Rule – Only buy something if it’s been on your list for that long.
- No Buy Days, Weeks, or Months – Spend only on essentials for a set period.
11. Keep Perspective on Life Goals
I look at my life in weeks left until age 90 and ask:
- Is what I’m spending money on aligned with the life I want?
- Do I want to work until 65 to afford it?
This mindset shift made me spend less and earn more.
12. When You Can’t Save More, Focus on Earning More
If you’ve cut all expenses and can only save $100–$200 more per month, focus on earning more.
Starting a business can:
- Increase income.
- Save on taxes (home office, internet, phone, car, travel).
13. Track Your Money & Avoid Fees
Track your spending so you:
- Avoid late fees, overdrafts, and ATM charges.
- Find unused subscriptions you can cancel.
14. Stay Healthy
I haven’t been to the doctor in 8–9 years because I’ve stayed healthy. I avoid sugar, exercise regularly, and maintain my teeth. Good health saves money in the long run.
15. Consider a Smaller or Smarter Home
Housing is often 40% of income. I’ve used house hacking — living in one unit and renting out the other — to reduce or eliminate my housing costs.
Also: Paying your mortgage twice a month can save tens of thousands in interest.
16. Invest in Quality
Cheap items often wear out quickly and cost more over time. Higher-quality items may cost more upfront but last longer.
17. Change Your Dinner Strategy
Instead of going out, invite people over. You can make better food, eat more, and spend less.
18. DIY More Often
You can:
- Change your own oil.
- Fix basic plumbing.
- Build simple furniture.
YouTube makes it easy, even for beginners.
19. Make Your Own Coffee
A $20 coffee maker and quality beans can save you time and money — and taste better than most cafés.
Moral of the story ?
You don’t have to do all 19 tips at once. Start small, build habits, and focus on your “why.” That’s how I’ve kept a 50–75% savings rate for years and built the freedom I have today.
