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10 Easy Ways to Save Money in 2023

Looking for a savings challenge? Discover 10 easy ways to save money to reach your financial goals. Get more tips on how to save money at

10 Easy Ways to Save Money in 2023

What are your goals for 2023? Go on a luxurious vacation? Pay off debt? Add to your rainy-day fund by cutting down on unnecessary purchases?

There are many ways to save money each day, just by adopting simple habits. Here's how to save money the easy way.

1. Use coupons

This one's super-easy. Read the beginner's guide to couponing. Get organized with a DIY coupon organizer. Stack coupons to save even more on each purchase.

Cutting out physical coupons or pinning them in an app may take a few minutes, but you can save a significant amount on everyday purchases. Best of all, it's completely free. See if our free coupon book is available near you. 

2. Save the change

Save automatically by putting your spare change into savings. Create a savings jar and toss in your extra coins. The whole family can get in on the fun. 

If you use plastic more often than cash, look into change-savings programs with your bank. For example, some banks offer accounts that automatically round up debit card purchases and transfer the difference to a savings account.

3. Use before you buy

Removing clutter from your home can improve your mental health and help you save. Instead of buying new things, take inventory of what you already own. For example, do you have a new bottle of lotion in your bathroom storage? Is your pantry filled to the brim with dry goods? Is there a cool jacket stuck in the back of your closet you forgot about?

When creating shopping lists, first take stock of what you have. Look at the ingredients in your kitchen, and build meals around them, so you don't purchase unnecessary food. Try incorporating clothes you haven't worn lately into your next outfit. Use toiletries up before you buy new ones.

4. Cut subscriptions

Subscriptions add up. If you're not getting meaningful value, cancel them to lower your monthly bills.

In addition to streaming services, magazines, and gym memberships, look at your delivery subscriptions. If you don't need certain things on auto-ship, turn it off and only purchase when you need to replenish something.

5. Commit to a savings challenge

Participating in a 26-week or 52-week challenge can help you boost your savings. 

  • With the 26-week challenge, save $3 the first week of the challenge. Every subsequent week, increase your savings by another $3.
  • With the 52-week challenge, save $1 the first week of the challenge. Every subsequent week, increase your savings by another $1.

By the end of the 26-week challenge, you'll have saved $1,053. By the end of the 52-week challenge, you'll have $1,378.

Challenges are manageable ways to save significant dollars in a year or less. Want to save more? Increase your weekly amount!

6. Shop sales

For essential items, hit the sales aisle first to see if they're on special or if there's a cheaper alternative you can swap. 

Review sales and coupons before you shop and build your list from there. For example, use grocery coupons to guide your weekly meal planning.

7. Cook more at home

Think of how much time you might spend idling in a drive-through line for a $7 latte. You can make one for pennies on the dollar in less time.

Look at your eating habits to identify ways to save. Pick food up to go, rather than paying for delivery fees and tips.  Or, commit to eating out one day less per week.

Cooking at home can lead to other meaningful benefits. By controlling ingredients, you can eat more nutritiously, leading to weight loss and improved health. That can save you even more in healthcare costs over time. Check out our recipes and dining ideas for inspiration.

8. Find free entertainment

Research free events in your community. Events like poetry readings, comedy shows, art, and live music are often free or low-cost.

For outings with friends, go for a walk outside together, play board games, enjoy a home-cooked meal, or sign up for a low-cost class you were interested in anyway. Focus on the quality of time you spend together over the activity itself. 

9. Get a new credit card

If you have credit card debt, consider transferring it to a balance-transfer credit card. They typically offer low- or no-APR for 12-18 months. Moving high-interest debt to a different card can save you lots of interest as you pay off the balance.

Speaking of new plastic, if you have a solid credit score, look into new credit card options. A cash-back credit card can give you free monthly money on your regular purchases. Research what you qualify for, so you can earn cash back on what you're already spending.

10. Consume less

You've heard about retail therapy. So many of us overindulge, whether it's food and drink, shopping, or entertainment. But according to the American Psychological Association, materialism and consumption are linked to lower life satisfaction. Instead, as the Harvard Gazette reports, the quality of our relationships and health are better predictors of happiness.

Be mindful of your consumption habits. Question the "why" behind each purchase. If you're buying a new outfit for a self-esteem boost or drinking wine to feel better, working on your relationships or your physical and mental health is ultimately more rewarding (and saves money!). 

Get more savings tips

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