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50 Tips To Stretch Your Budget and Spend Less Money

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In a Nutshell

You may not be able to stop spending money completely. But, you can create a manageable budget and learn to stretch that budget as far as it will go. This piece will show you how to accomplish both goals.

Written by Natasha Wiebusch, J.D.
Updated December 2, 2021

Millions of working Americans—even those making well above the average salary—struggle to save money. Market Watch reports that Americans had an average pre-tax income of $78,635 in 2018 and spent about 80% of it. Once taxes have been factored in, the average American is hardly able to save anything at all.

It’s not easy to determine how to stop spending money. Or, at least, how to spend less money. Really, the best solution is to budget. Smart budgeting can lower costs, eliminate unnecessary expenses, and help with debt management. If you want to save money and stretch your income, keep reading. In this piece, we provide 50 tips on how to spend less money. 

Are You Overspending?

If you’re not sure whether you’re overspending, you’re not alone. According to a recent survey, 65% of Americans don’t know how much they spent the previous month. In 2019, CNBC reported that on average, consumers overspend by over $7,000 a year.

Overspending habits lead to added debt and other serious negative financial consequences. What starts as credit card debt can lead to collection actions like garnishing your bank accounts, liens, and even foreclosure.

The first step in halting overspending is to create a budget that works for you. A budget will show how much you’re spending and whether you’re spending more than you’re making. Creating a budget will also help you understand where your money is going, which will make it easier to strategically lower your expenditures.

7 Tips if You Don’t Yet Have a Budget

Below are seven tips to help you get organized and ready to start a budget.

6 Tips if Your Income Is Too Low To Afford Your Basic Expenses

Everyone has basic expenses that can’t be eliminated. In some cases, these expenses alone can exceed your current income. Below are six tips to help you lower these basic expenses. 

4 Tips if You’re Spending Too Much

You may be spending too much beyond your basic expenses. There are steps you can take to pull back on non-essentials without sacrificing your essentials. 

3 Tips for Dealing with Credit Cards

Credit cards can help families purchase necessary items, and gain benefits like cash back and improved credit. Although credit cards have benefits, they also have high interest rates and associated fees that can easily increase your debt. 

Below are three tips to help you keep your credit card use in check:

3 Tips for Dealing with Debit Cards

Unlike credit cards, debit cards are connected directly to your checking accounts. Unless you’re budgeting using a cash system, it’s helpful to have some strategies in place to guard against spending too much of your income.

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3 Tips for Handling Cash

If you prefer to use cash, consider the following tips to help you budget and save.

4 Tips for Online Shopping

3 Tips for Restaurants and Restaurant Delivery

Restaurants are a common expense for some families. Cooking at home is generally more affordable than restaurants. If you decide to go out or order in, below are three tips to help you save money. 

4 Tips for Groceries

Shopping for groceries is generally the most affordable way to buy food. But not all grocery retailers are equal. Below are four tips to help you get the most out of your grocery shopping.

A Tip To Save on Fitness

2 Tips To Save on Internet and Cellular

You may have seen ads for Mint Mobile or Tello. These phone companies offer more affordable phone plans at lower prices than the better-known companies. 

A Tip to Save on Cable TV 

4 Tips for Car Buyers

The car shortage caused by the pandemic has pushed car values to an extreme high. Although it’s a good time to sell your car, it’s not a great time to be shopping for one. The following tips can help you get the best deal possible in a difficult market.

2 Tips for Car Owners

Car ownership comes with its own costs, some of which can’t be eliminated. But, there are strategies to help you lower your costs long term: 

3 Tips for Health Insurance

Health insurance is hard to navigate. And if it wasn’t already confusing, it’s gone through huge changes since 2010. Here are some tips to help you get health insurance on a budget.

Let’s Summarize…

For many, saving money is a tall order. Smart budgeting can help. Through a budget, you can save money, reduce stress, and improve your personal finances. Although all budgeting involves keeping track of and limiting your expenses, no budget plan is the same. If you want to spend less, create a budget that works for you, and keep these other helpful tips in mind.

Written By:

Natasha Wiebusch, J.D.


Natasha started her career as a lawyer representing labor unions and other investors in multi-state class action lawsuits. Passionate about the civil rights elements of her cases, she moved into practicing employment law to represent employees against discrimination of various ki... read more about Natasha Wiebusch, J.D.

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