Living in the cost of living crisis, where more and more people are uncertain whether they will be able to afford a warm meal and their home rent in the coming months, can be scary.

No wonder more and more people are taking a step further in keeping that wallet tightly shut if possible. “What are some interesting life hacks for saving money?” someone asked on the Ask Reddit community and the responses came flooding in.

Armed with exceptional ingenuity and often unusual approaches to spending and saving money, people revealed what they do when prices are beyond control. Scroll down through the most interesting responses below!

#1

I don't smoke but live my financial life as a smoker. Meaning every Monday I transfer the sum of one weeks worth of cigarettes to my savings account. If people that earn less than me can afford smoking, so can I.

Image credits: kebabhue

#2

Always eat before going food shopping

Image credits: Trackull

#3

Only drinking water is a solid one. Soda at restaurants or other drinks add up a lot.

Image credits: Kings-x-Dynasty

#4

Don't have kids

Image credits: anon

#5

learn to cook! 4 or 5 reliably delicious recipes will go a loooooong way.

Image credits: joo_ish

#6

Don’t buy something that you normally wouldn’t buy just because you have a coupon.

Image credits: Rwill113

#7

I don't spend $1 bills. I collect them in a box and at the end of the year I usually have a few hundred dollars

Image credits: RusoArmo

#8

Get yourself a library card. It's not just books, but also movies, workshops, education, software, computer time, music. I've probably saved thousands on all sorts of c**p.

If it weren't for the library, I probably wouldn't have been introduced to awesome books like American Gods, The Way of Kings, All Systems Down, or The Road.

Image credits: anon

#9

I try to cost things as portions of better, or more fulfilling things i.e.

A coffee is 1/10 of a new game. Ten meals out is a weekend away etc.

Image credits: _mexicola

#10

If you can buy a tool to complete a repair for the same price as the repair itself, buy the tool and repair it for free next time.

Image credits: -thersites-

#11

Acting broke. Trust me. Nothing helps you save more than acting broke. And there is a way to do that without becoming a mooch. Eat at home if your friends have a dinner plan at an expensive place. Pregame if you're going clubbing. And if anyone asks you why aren't you eating/drinking/coming for that vacation just say you're broke. I learnt this the hard way. Because I remember becoming a recluse and slowly stopped socializing just because my friends always had these extravagant and expensive plans and I realized it really started weighing down on me. But eventually I learnt that there was no shame in wanting to save money/being broke and definitely none in saying so.

Image credits: TheQr8r

#12

Buy secondhand!

Today I have secured myself a solid pine desk for my daughters room, no marks or damage, for £10, and a worn-once, three piece navy suit for my son to wear at our wedding next year, also for £10.

I buy maybe 80% of my stuff secondhand. I bide my time, wait for a bargain, and I have saved sooooo much money over the years.

Image credits: BeccaaCat

#13

Learn how to login to your online banking system and review your statement regularly. You'll see how quickly money flows out for coffee...snacks.... and unnecessary purchase. Also set a budget and STICK TO IT.

Image credits: AwkwardTraveler

#14

I have a friend who, at the end of each pay period, moves whatever she has in checking into savings. It doesn't matter if she's got $5 or $50 in the account, it goes into savings the night before payday.

Image credits: Gigglefruit358

#15

If you can avoid it, never take out a payday loan.

Image credits: Creative_Uzername

#16

When at the grocery, look at the price/oz or whatever unit it is instead of the total price. It's usually posted in one corner. It's not going to save you tons of money, but it does add up. Plus it takes out the guess work when comparing similar items.

Image credits: Richards_Brother

#17

This is not mine, but 'The 72 hour rule" is pretty damn helpful.

Basically, the gist of it is, if you want something that is not a necessity, instead of buying it immediately, add it to a list (in my case I use a spreadsheet, but whatever works), then wait 72 hours.

If after 72 hours, you still want it, then you can buy it. It seems that 80-90% of the time, after the 72 hours is up, I don't end up buying the item I thought i wanted.

The reason I like doing it with a spreadsheet is, I can then at the end of the year, easily add it up, and see how much money I DIDN'T impulsively spend.

EDIT: It took me a while, but I remembered where I picked this idea up from. It initially came into my world from listening to the ChooseFi podcast interview with the Frugalwoods.
Here's the podcast: https://www.choosefi.com/012-living-frugal/
and here is her original article on it:https://www.frugalwoods.com/2017/01/09/my-foolproof-method-to-stop-impulse-spending/

#18

Try buying reusable objects in place of single use ones. It's better for your wallet and environment. Steel water bottles, reusable K cups, dish towels instead of paper towels, etc. Over time the costs of little things really add up.

Image credits: moongardenne

#19

Don't buy the cheapest option. Often the middle priced option will be the best value. Things that are too cheap are worth what you paid for them.

Image credits: -thersites-

#20

When buying online, leave items in the shopping cart for awhile. There is a good chance that the website is tracking this, and will lower the price overtime to entice you into buying.

I've saved a lot by being patient. Like when I got a surround sound amp for $350 that was listed everywhere for $450 to $500, just by leaving it in the online shopping cart for a week.

Image credits: Whatmeworry4

#21

Easy one- Buy your own modem. You can get a good one from Amazon for $100. Internet companies charge you $10-$12 a month to rent yours. Buy your own, return the rented one to internet company, and get that charge removed from your bill. Pays for itself in under a year.

Image credits: Trenuk13

#22

Drive slower. You will see an immediate increase in mpg. Your brakes will last longer. Your tires will last longer. You will immediately be at a reduced risk for an expensive accident. Your engine will be able to go further before needing expensive repairs.

Image credits: DentedAnvil

#23

Learning how to cook pasta, rice and beans, soups, stews, polenta, grits, etc, really anything that costs very little and can feed a huge family. You save insane amounts of money, even if you are frugal in terms of buying cheaper things from stores (e.g. $5 sandwhich). For that same $5 you can make pasta with butter, cheese, and peas for the whole family. Or make beef stew with barley (chuck roast is really cheap and delicious in a stew).

Image credits: Bince82

#24

Dollar store bleach. Dollar store vinegar. Dollar store cleaning products. Dollar store air freshener.

#25

Don't drink. Alcohol is a money drain.

#26

Live below your means

Image credits: turtle101z

#27

Look at store branded food items. Do you really think Safeway, Kroger, Dollar General, Costco, and Walmart all have independent tuna canning facilities? NO! They're sourcing the product from of of the big 3 (or however many) facilities that supply the name brand. This goes for the majority of store branded items. Make it a game to find out who has what national name product as their store brand product.

Image credits: danmartinofanaheim

#28

Rice is really cheap and can be really tasty. Have a side of rice with a lot of homemade meals to really round it out with basically no cost, same with some simple sauteed veggies. Very low cost, quite healthy and tasty.

#29

If you have any land whatsoever and you aren't growing at least some your own food, plant a fruit tree, etc, you are really missing out.

We got 20ish raspberry canes at an end of season auction last year for $1 each. They saved me at least $200 in the first year alone, and they are spreading nicely, filling out the space I planted them in.

I was pulling in 100 tomatoes every day at one point this summer. My freezer is full of free soups, and bags and bags of frozen tomatoes. I saved seed (heirlooms) and from here on out, I get free tomato plants forever.

If you mulch them heavy with woodchips, they are almost no work. You can make your own compost really easy. It's all a lot less work than you think, and totally free money.

Plus, FRESH raspberries, tomatoes, peaches, strawberries, they are LIFECHANGING. The s**t in the store is hollow tasteless garbage.

This year alone, I bet I saved at least $2k from food I grew, with zero inputs other than a few hours to drop some compost down, plant, mulch, then pick now and then.

#30

-Most people wash their hair way too often, and the scalp responds by increasing sebum production, leading to a cycle of "I have to wash my hair every day or it'll be greasy". Slowly cut back and/or investigate alternative haircare methods - conditioner-only washing, no-pooing, etc. Shampoo and conditioner are expensive.

-If you garden, find other friends who garden and swap seeds, seedlings, rarely-used tools (postholers, mulchers etc), cuttings and expertise. Same goes for any other hobby really. A weird size of knitting needle for a one-off project? A cement trowel? A novelty baking pan? Someone you know probably has it. I'm not saying be a niche - definitely reciprocate - but it's ridiculous for ten friends to own ten sets of stuff they rarely use.

-I get basically all my books from two annual book fairs run by charities. A dollar or two apiece. Libraries are obviously even more frugal, but if you want to keep books, this is the way to go. If you want a new book and can't borrow it, Kindle is generally cheaper than a physical copy.

-In the winter, never throw out a roast chicken carcass. Chuck it in the slow cooker with water, a bit of salt, and if you're really onto it, onion and carrot ends you've saved in a Ziploc bag in the freezer from chopping veggies. Leave it overnight for stock, which is not only great as a soup base, but makes rice taste amazing. Liquid gold.

-Op shops in rich neighborhoods have fancy clothes.

-Coconut oil is a good cheap moisturiser, hair oil, deodorant when mixed with baking soda, shaving lotion, oil cleanser...

-Buy or make small Christmas stockings, not those huge Santa sack monstrosities. Train your kids that stockings are for edible treats, not gifts. Fill them with yummy things -pretzels, mini-packs of snacks and chips, candy, whatever. If your kids are smallish and don't eat a ton of treats they'll still be super excited, and now you don't have a trillion plastic junky toys cluttering up your house.

-Buy one Christmas present a month (ideally something on sale) and store then up.

-Mystery shopping is a good way to get a bit of cash and luxuries you wouldn't otherwise be able to afford.

-Buy good shoes and get them resoled when they wear out. I've worn the same pair of fancy Italian boots for what, ten years? Had the zippers fixed twice and the soles redone twice. Even if it didn't save money it'd be worth avoiding the hell of shoe shopping. And my boots get compliments, so yay. :p

#31

Stop buying snacks. Quit soda and the like.

#32

10% of your paycheck goes into a savings account and 20% to debts. The remainder stays in your checking account to pay bills and feed/entertain yourself. Be disciplined and stick to the plan. If you can, increase the savings percent. When you have enough savings to fulfill an emergency fund, start investing. Calculate if you can afford things using these constraints, and if you can’t then don’t purchase them. Not exactly a life hack, but this plan will make you wealthy.

Image credits: anon

#33

Make your own lunches for work. The cost of making/preparing your lunch for the week can be less than what you pay buying one days lunch.

Also, can provide health benefits.

#34

Get a hobby that doesn't take a lot of money, like volunteering, or doing knitting.

#35

If you're low income, **apply for foodstamps** (or whatever your city/state calls the equivalent).


Seriously, there's no shame in it. I neglected to apply for several years when I was really struggling because I had to unlearn the stigma that they had when I was growing up. Times have changed. ***If you need help, don't be afraid or embarrassed to ask for it.*** I qualify for the maximum amount where I live. It doesn't cover my monthly food expenses but it gets me through a few weeks and I could make it stretch if I really needed to. It never hurts to apply.

#36

If youre buying something, for example, deoderant, if there is a value pack vs a singular packaged one, look at the weights and prices of each, it shouldnt be hard to do the math, and see "oh the single one is $1/oz but the value pack is $1.20/oz" just ran in to this yesterday at the grocery store

#37

If you can, buy electronics refurbished or lightly used on eBay or Amazon. They'll often be quite a bit cheaper a few months after release maybe with a minor scratch.

Certain things probably aren't worth getting used though, like hard drives and earbuds (eww).

**EDIT:** Also, don't get used graphics card. As been pointed out in the comments, they were often used for crypto mining and are pretty worn out.

#38

Just don't spend on items you don't NEED...

Little items for 10 bucks here and there add up.

Even as less as a dollar adds up in the end.

#39

I haven't seen this in this thread yet, so:

Reduce your constant, monthly expenses as much as you can. Anything that you pay for every single month, see if you can get rid of it, or get a better price on it. Over time, those savings aggregate and really add up.

For example, if you're paying for cable, get rid of it. It costs way too much for what you get and so much entertainment is now available for much cheaper. Or just torrent. This thread is for hacks afterall.

Get a cheaper Internet and cellphone plan.

Monthly subscriptions for services are all the rage now because companies figured out that people will continue paying every month even if they barely use the service. Don't fall for that - unless you use that service a lot to justify paying for it every month, it's probably better to drop it and find a per-use option.

#40

I'm 26 and I've been living w/ my folks again to get back on my feet.

I've been paying what amounts to rent and utilities into a savings account to see if I can handle the reduction in cash flow. Should have about 10k by Jan, and moving back out.

Inb4 mooching, I pay them monthly as well.

#41

A more expensive good quality product will save you money on the long run compared to shitty cheaper versions of the product which you might have to replace/fix more often. Of course, higher price does not guarantee higher quality so you have to do your research before purchasing. Sometimes the cheaper option might turn out to be the better product.

#42

Call around for car insurance. Do it right now. I was with Safeco the last 8 years, and happy I was paying less than in previous years. Just called around again after moving and found out I was paying roughly 2.5x what I should have been. It was like over $1500 more a year. I feel like I've been had.

#43

Stop buying Starbucks.. you can buy the syrup they use at target for $5 and coffee for another $10 that will last a whole month... that would be 3 trips to Starbucks for that price.

#44

Store brand over-the-counter medications. Allergy meds, pepto bismol, tums, motrin, aleve, tylenol, you name it, there is a store brand equivalent that is guaranteed to be at LEAST 75% cheaper than the name brand. Just look at the ingredients, they are all the same.

Most of them are just Target/CVS/Rite Aid etc. buying time on a name-brand companies manufacturing process to make their own version of the same drug for less.

Image credits: ArtistSchmartist

#45

If you're in the US and have children in daycare, you can deduct up to $5000 per year tax free. My wife's company offers a Flexible Spending Account for this, and they don't reimburse until she turns in receipts. She doesn't ever turn in receipts until late November/early December, so every year around Christmas, we get an extra $5k check.

Image credits: 2PhatCC

#46

Separate s**t out. Use multiple bank accounts.

Use one for "b******t money", Use one for rent/mortgage/wtfever, Use one for recurring bills (gas, car payment, insurance, bills, etc).

You know one easy way to not accidentally blow your rent money on dumb s**t? Keep it separate from your "go party with jeff on a friday night" money.

#47

Pay your savings account immediately, and treat it like a bill. Each cheque $100, $400, $50 whatever you can afford gets put away no matter what.

Educate yourself on finance as well, the best way to save money is to be savvy about it in first place.

PS. The amount that "they" tell you put away (10%) is not nearly enough.

#48

If you are getting married, send out wedding invitations to every billionaires address you can find. You have a 50/50 chance that their assistants will just send you a perfunctory gift without ever wondering who the hell you are. Free gifts!

Image credits: meafloaf

#49

Don’t use your main checking account for non-essentials. Give yourself a cash allowance each week, set it to whatever you find comfortable, and only spend that. Once it’s gone, it’s gone, and you have to wait until next week. It really helps with budgeting - you know exactly how much you’re spending on nonessentials, and you don’t need to track every penny.

#50

Ebay! Sell your old s**t. You'd be surprised at what others are willing to buy when you may think it's worth nothing.

#51

Look at your bank statement at the end of the month and see what the recurring things are (monthly payments, regular food place etc...) and just look at how much you are spending on them.

I often get too the tail end of the month and wonder "Where the f**k has all my money gone?" then I look and think, Food and unnecessary payments to stuff I don't need. Makes me want to at least try and cut back.

#52

Usually paychecks are issued every two weeks while bills are monthly. You have to pay bills twelve times a year but you get paid twenty-six times a year, so every year you get two "extra" paychecks. Don't spend that money, use it to pay off debt or put it in the bank.

#53

Did you just get a raise? Put that amount into savings if you already have it. A couple hundred bucks a month is nice, but you'll probably not notice is week to week.

#54

To really save money, you need to attack the big things. Brewing your own coffee, bringing a bag lunch, etc., are all well and good, but if you're leasing a new car instead of buying a beater, or living in an apartment that's more than you need, or sending a kid to a private school, those will wash out any other minor savings.

#55

Putting rubber liners around your windows and doors will cut your energy bill by a 3rd.

20 bucks at Walmart for my whole house

#56

Me: "Oh I'm always broke! Maybe I'll find some great useful tips here!"

Also me: "Literally all you have to do us stop eating out every goddamn day and pounding beers for no goddamn reason. Literally. That's it. That's the only thing you have to do."

#57

Making one extra payment on your mortgage per year will reduce a 30 year mortgage to roughly 17 years.

Image credits: -thersites-

#58

Live as a minimalist-“getting exactly what you need is not suffering”-The Minimalist Budget

Edit* The Minimalist Budget takes a more expanded view of how to be a minimalist. An example from the book: If collecting action figures makes you happy-then why not allocate 5% of your income to it? Why not 10%? Life is short and finding true happiness can be difficult. Sure you don’t NEED action figures to survive but if they truly bring you joy then by all means allocate resources to fulfill your hobby.

The book takes notice of not only how to be frugal and save money but also how to manage other resources in your life. Some of said resources are possibly more important than just money such as:

• Time
• Spirituality
• Happiness
• Etc.

Image credits: Craig-Geist

#59

Download acorns, turn on round ups and forget you have it. It'll round up each purchase you make to the next dollar so you acquire a lot of change which then turns into a pretty nice savings account.

#60

Buy "defective" clothes. They're usually way cheaper than regular clothes and most of the time you can't even tell what's wrong with them. Usually it's just something like the arms being marginally too long or a pattern that was from last season (and even then most people can't tell what's from this and previous seasons)

#61

A mortgage should be your only debt......save up to pay for everything else upright (including cars, student tuition, trips, and weddings). If you don't have the money for what you want in cash, find another cheaper alternative in the meantime and keep saving.

Note: I am a Canadian and I know many people in the United States end up in debt due to surprise illness. I don't know much about this, but I recognize it is a different type of debt.

#62

Be so depressed you can't go outside for non-essential activities.