20 Ways to Save More Money Each Month in 2023

By John Cruz

Last Updated:

Saving money is the last thing anyone wants to do.

Then again, trying to save more money each month isn’t on the agenda for most, as they need it all for their unnecessary expenses.

The paycheck-to-paycheck lifestyle is very popular among lower-income households, but it happens to everyone at some point in their lives.

It’s weird how that works, but it’s true.

The same thing goes for saving money, and you should know that every household has the opportunity to save money.

Yup, you can save more money each month, regardless of the type of income you bring in.

Then, you can even think of investing to make more money.

There are ways to make more money with an extra job and even ways to make money online.

If you are willing and ready to save more money each month, now is a great time to start.

I want to share some of the “secrets” that have helped me and my family have a little extra money at the end of every month.

Not only do we have extra, but it helps with a lot of unnecessary stress.

If you’re ready to save some dough and get rid of one of life’s biggest stress problems, here is how it’s done.

How Do You Save More Money Each Month?

20 Ways to Save More Money Each Month in 2023 23

To even start thinking about saving money is far-fetched for most.

You can barely pay your bills on time, and saving money is not even a question.

It makes you exhale thinking about the stress that comes with money, but it’s something that you can work on.

I know it might seem impossible right now, but let’s review some tips to help you save money each month.

1. Watch Your Spending

20 Ways to Save More Money Each Month in 2023 24

I don’t mean look at your money as it leaves your hand literally.

To save more money each month, you need to look at exactly what you’re spending your money on.

There are unnecessary expenses and needs, and then there’s all the extra spending.

You might think you “need” many things, but I can almost guarantee that you don’t.

If you think you need to go to the movies every week, maybe you might want to look at how much you spend on movie tickets alone.

Now, imagine how much you spend at the concession stand.

All those overpriced items will dig into your wallet faster and deeper than you think.

What’s wrong with Netflix and maybe a once-a-month trip to the theater?

Don’t forget that there are many outdoor activities for the kids to get their minds off the movies and their devices.

And, if it’s your idea as a parent to go to the movies every week, I’m sure you know what needs to be done.

2. Live Within Your Means

20 Ways to Save More Money Each Month in 2023 25

Many people live their lives to please everyone else rather than what they are capable of doing.

Payday comes, and let the spending begin.

You absolutely, positively know that you don’t have the money to eat out with your friends, but what do you do?

You go anyways.

The money is in your bank account, and you can pay for that wonderful dinner without being told, “Sir, your card got declined.”

You don’t have to pretend there’s money in there because it’s there.

Then comes the end of the week, and you’re already broke, wondering how you’re going to pay for things.

You let that one overpriced dinner of fun ruin the rest of your week.

Don’t do that.

That fancy dinner can wait, and I’m sure your friends will understand.

We’re still in the middle of a pandemic, so you have every reason you can’t make it to many things.

What does that mean for you?

More money in the bank and less stress.

I only mentioned one thing, too, so can you imagine what else you can stop doing to save more money every month?

3. Manage Unnecessary Subscriptions

20 Ways to Save More Money Each Month in 2023 26

The life we live these days comes with monthly payments.

Whether it’s Netflix or your kid’s subscription to PlayStation, we all have some deal that requires a monthly payment.

We don’t think anything of it, especially when it’s deducted each month automatically.

Thinking back to when I was a child, we were subscribed to nothing.

We didn’t have any streaming tv service, and we definitely didn’t have any monthly delivery of anything either.

The problem is that most of you don’t notice how much is being thrown into subscriptions.

Let me give you some examples.

  • Tv streaming
  • Gym memberships
  • Food delivery
  • Fitness apps
  • Diet boxes
  • Game subscription
  • Music streaming services
  • Beer or wine subscription
  • Dollar shave club or similar
  • Meat subscription
  • MLM

I thought I would only name a few, but that list is getting extra long.

I think you get the point, though.

Now, imagine these are just extra stuff that doesn’t include your actual bills.

These subscriptions seem tiny but get just three from that list, and you’re already over $100.

Most of your budgets can’t squeeze an extra $100 out, so do yourself a favor and cut down on your monthly subscriptions.

Trust me, you don’t need any of them.

4. Chop Monthly Bills

20 Ways to Save More Money Each Month in 2023 27

Bills are a huge part of why and how we live.

We work our butts off to check off a list of life’s essentials.

For one, we have our mortgage or rent, which takes most of our paycheck.

Then comes our car payment and power bill, which are just as damaging.

The rest of the bills include water, heating and cooling, trash, insurance, and our phone bill.

This comes in the form of our mobile devices, which are very much needed in this modern world.

Typically, one would leave that in the monthly subscription category, but a lot has changed in five years.

So, how can you save in this department?

I would start with your rent or mortgage, but I’ll save that one for next.

You can start by turning the water off when you’re not using it.

It might sound like it’s not a big deal, but you’ll see how much you can save by being conscious about your water usage.

If you hear your child in the shower hanging out under the water too long, give them a holler, and tell them to turn it off.

They’ll feel they did something wrong, and off goes the water.

The same thing goes for your electric bill.

If you aren’t using any lights, turn them off.

Simple things like this will make the biggest difference, so don’t write them off.

5. Get Rid of Your Car Payment

20 Ways to Save More Money Each Month in 2023 28

Who doesn’t like nice cars?

I like them a lot, but it doesn’t mean I need to take on a car payment.

Not to say you shouldn’t get a new car (because I do think you should), but I think you should get a car you can afford.

If you can find a steal on a used car, go for it.

That can save you money upfront, and it can also save you money in the long run.

When your financial situation improves, you can consider getting a new ride.

Don’t feel that you always need to get a new car to keep up with the Kardashians.

I would rather not have a car payment (because $500 is a lot), be stress-free, and throw that money into a savings account or use it for a nice staycation or something.

6. Consider Adjusting Your Mortgage or Rent

20 Ways to Save More Money Each Month in 2023 29

Finding a nice place to stay isn’t complicated, especially when you are thrown the right price.

At the time, a mortgage might seem like the best decision, but our financial situation could change overnight.

If you’re not one of them, you can ask the 114 million people who lost their jobs during the pandemic.

I’m sure they had to make some adjustments to their living, and that’s completely fine.

I am no expert in giving financial advice, but I believe paying rent is much better than paying a mortgage.

Before you go thinking I’m crazy, hear me out.

Growing up, it was always understood that the youngest child would get the house in my family.

That, of course, didn’t happen.

My mom is still alive and enjoying the mortgage payment, she still has.

This brings me to the next topic, the cost of mortgage payment and the length of time it takes to pay off.

Just because you got a mortgage does not mean you own anything.

And, if you’re “buying” a house and you’re 40 years old, remember that you will be 70 once you finally pay your house off.

Think about things before you sign any papers and get a home loan you might not be able to afford in the future.

7. Cut the Cord

20 Ways to Save More Money Each Month in 2023 30

Everyone and their fathers are using Netflix or some streaming service.

Having cable TV is cool and all, but it is not cheap.

That extra $50 or whatever it is that you’re paying can be used for many things.

It can help with your rent, groceries, or saving that little extra for the month.

If you’re like me and need to watch your golf, work with your cable provider, as there are plans that will bring your overall bill down.

For me, my cellphone provider is also my cable provider, so we have a nice bundle deal in place.

And, if you don’t know what you need to cancel or what you could possibly save on, don’t forget that the Trim app can help.

It has saved me on insurance and several subscriptions, so I use them to save more monthly money.

8. Trim Debt

20 Ways to Save More Money Each Month in 2023 31

One of your bigger monthly payments will come with a credit card of some sort.

Having that credit card ready to swipe is beyond convenient, especially when you want something.

It sounds great at the moment, but when the end of the month comes, you’re faced with even more debt and stress.

If you want to save more money each month, you will need to chop your debt.

Whether paying down your credit card with the highest interest or paying them off completely, you might want to find a way to trim your debt.

I like to pay more than the minimum balance to offset the interest.

Eventually, you want to pay your card off completely if you can.

Save it for emergencies, but rely on what you have to spend rather than what your credit card provider offers you.

9. Don’t Carry Cash

20 Ways to Save More Money Each Month in 2023 32

Carrying cash is the best way for you to spend more money.

You don’t have to carry cash, with debit cards being accepted almost everywhere.

Give a $100 bill to pay for a piece of candy, and you will see how fast that thing can disappear.

Then it goes right into some snacks and drinks to have you wonder where it all went.

Not to mention how generous and flashy you become.

Save yourself and your wallet from paying for unnecessary things, and keep your cash in the bank.

Oh, and don’t forget that it’s just safer that way.

Have everything paid by your card if possible, and save yourself from having to fork out money for a read-a-thon or other unplanned spending.

10. Be Conscious About Saving

20 Ways to Save More Money Each Month in 2023 33

If you don’t think about putting money aside, how will you save more each month?

You need to have it in your mind that you need and should be saving more money.

Don’t let the media get you thinking you need this and you need that because you don’t.

That commercial about diamonds and the latest gadget can wait.

My wife and I have some cheap wedding rings that worked just fine.

Don’t give in to pressure from family and friends, either.

Just because they had an extravagant wedding does not mean you need one.

Those lavish weddings were for nothing in some instances, as the divorce came soon after.

Always make it a point to save, regardless of what you are spending.

The Acorns app is great for saving and one I recommend.

Not only are you able to save money, but there’s a round-up feature that allows them to pull any extra from whatever you buy.

On top of that, they invest your money into other companies, earning you a little extra cash every month.

Just for signing up, you get a $5 bonus investment that will be added to your new investment.

11. Drive Less

20 Ways to Save More Money Each Month in 2023 34

Fuel is crazy expensive these days.

The problem is that even though we know it’s eating away at our wallets, we still drive all over the dang place.

I can not stress enough how much money is wasted on driving alone.

Okay, you have a super long drive to work.

That’s cool, but it doesn’t mean you must throw money away.

Get with a coworker or two, and plan on carpooling if your drive to work is that far.

Don’t let that full gas tank get you thinking that it’s time to stroll to your best friend’s house to say hi.

Save the trip and save your money.

12. Change Your Daily Routine

20 Ways to Save More Money Each Month in 2023 35

“I need my morning cup of coffee.”

That’s the line many people use, and it isn’t enjoyable to me.

I, too, like my morning cup of Joe, but it’s not something I need to share, and it’s not something I need to overspend on either.

I used to buy a $5-$8 cup of coffee before I started my online business, and boy, was I stupid.

With my $400 bi-weekly paycheck, do you really think someone like me could afford to spend that much money?

Absolutely not!

Not with two kids and bills up to the ceiling.

That’s not including our fancy lunches either, so keep that in mind before buying that next cup of coffee.

Invest in a Keurig or some instant coffee packs, and you’ll be good to go.

And, if you want to look all fancy in front of your co-workers, get yourself one of those reusable Starbucks cups my wife uses.

13. Gift Better

20 Ways to Save More Money Each Month in 2023 36

We all want to give gifts, and that’s a good thing.

The people in our lives deserve a nice gift, even if it’s something small.

Be aware of who you are going to gift and what you will gift them.

I know we all want the recipient of this gift to be happy, but I don’t think it has to come with a massive price tag.

We might be looking for a wedding gift, but it doesn’t mean you must give them something you can’t afford.

And, if you plan on gifting money, remember that there’s the right amount for a wedding, a funeral, and other events.

14. Buy Brand X

20 Ways to Save More Money Each Month in 2023 37

Buying household things can be very tricky.

Either you buy super cheap stuff and use a lot more just for it to work.

Or, you buy something super expensive, and suddenly you’re broke.

We can never win!

Here’s how you win.

You want to get the better, “costlier” stuff for cleaners and whatnot.

You can bet that buying knock-off brands is the better choice when it comes to food.

They are much cheaper and will give you the same satisfaction of being full as every other overpriced cereal box.

Remember now, it’s your house, and you need to forget about trying to look good in front of everyone else.

15. Look For Deals

20 Ways to Save More Money Each Month in 2023 38

I want to say look for sales, but sales aren’t always the best thing to look for as they will grab you by the neck, and you’ll spend more money in the end.

Deals are a different story, as this requires a little work on your part.

When we need something specific in our household, I do a lot of “shopping around.”

I’ll look at the best deals at the usual stores, online merchants, and even groups on Facebook and other social media channels.

You’ll be surprised how much you can save on that tool you only needed for 10 seconds.

There are great deals all over the place, so look around before resorting to your nearest Home Depot.

16. Become a Couponer

20 Ways to Save More Money Each Month in 2023 39

When I say become a couponer, I don’t mean going all out like those you see on TV.

Extreme couponing is cool, but you don’t need to do all that to save more money each month.

All you need to do is use coupons when and where you can.

Becoming an extreme couponer requires a lot of time and effort, and I’m not sure most real-life families have the time to do it.

You can do several things before heading out to the grocery store, though, so try that.

First, check online to see if that store has any coupons.

You can usually print them out and use them as a regular old coupon.

Then, you can grab any coupons you see around the store and maybe even check out that store’s little “coupon section” if they have one.

17. Setup a Savings Account

20 Ways to Save More Money Each Month in 2023 40

Creating a savings account to save money is the oldest trick in the book.

I left this tip way down on the list because it’s common sense.

It’s also something that has really changed over the years.

Savings accounts aren’t like they used to be.

Today, they are used as checking accounts, and not many people use them for what they’re supposed to be used for.


If you have kids, you might have a savings account specifically for them, and maybe you have one for yourself.

You might have one, but is it being used properly?

Probably not.

Start using that savings account and put money in there, but try to forget it exists.

18. Setup Auto-Transfers

20 Ways to Save More Money Each Month in 2023 41

Remember that savings account we just talked about?

Maybe it’s time to restart that automatic transfer you stopped a few years ago.

Yes, times can get tough, and you must tap into savings now and then, but don’t forget about it completely.

Don’t get discouraged to see a $0 balance after you pull out every penny to pay for that staycation.

That’s life.

Pick up where you left off and start building that savings account again.

Set up that automatic transfer from your checking account and start with even just $20 a month.

It might seem like a little, but if you do what I said earlier and try to forget your savings account exists, you’ll be surprised to see what you have in 5 years.

19. Do Things Yourself

20 Ways to Save More Money Each Month in 2023 42

Google and YouTube are some of my closest friends, and probably yours too.

When it comes to looking for information and any “how to” type things in life, who do we turn to?

Google and/or YouTube.

Whether we are looking to unclog a toilet or make a nice cake, we tend to and should turn to the internet for some instructions.

I know we live in a world of convenience, but you’ll be surprised how much money you can save each month by simply doing things yourself.

So, the next time you decide to call the plumber, ensure that Google doesn’t have the answer to one of your plumbing problems.

20. Act Like You’re Broke

20 Ways to Save More Money Each Month in 2023 43

This is last on our list of ways to save more money each month, but it’s definitely one of the better tips.

Money comes, and it goes.

It takes forever to come, and it wastes no time leaving your bank account.

You have to remember how you were able to manage to stay afloat without having a single penny to your name.

When you get paid or come across some money, try pretending you don’t have any money.

Get used to doing this, and you’ll save more money each month without trying.

You’ll save more money each month, and you’ll definitely be a lot less stressed.

Conclusion – Save More Money Each Month With These Tips

Saving money is not the easiest thing to do, especially in this modern world.

We feel the need to buy things others have and spend money in many unnecessary places.

Forget all that and leave all that crazy stress out of your life.

There are more important things to worry about than being broke because you want to look cool.

News alert!

No one cares.

They don’t care how you spend your money and won’t care when you’re broke.

Do yourself and your family a favor.

Act your wage, and life will be that much easier.

Leave a Comment