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How to Save Money By Changing These 8 Habits

Mar 24, 2023
money in a wallet from good spending habits

When it comes to money, we often don’t realize just how much we have spent until we open an empty wallet or notice the shrinking balance in our checking account. Little things truly do add up when it comes to what we spend and how we spend it. Poor spending habits can wreak havoc on your financial future, so it is important to learn how to save money now.


Why Forming Good Daily Habits in Important

The way you spend (and save) money determines how well you will do financially in your life. Developing good money habits early on leads to a better and more stable financial future. The sooner you learn how to save money and adopt good money habits in your daily life; the sooner you will see your savings grow. 

It takes some time to learn the best budgeting habits for you, but spending wisely can be a little easier with these tips about how to change a few habits to save more and spend less.


8 Habits That Can Help You Save Money


1. Learn Energy Saving Rules

In today’s environmentally friendly world, there are many simple habits that will help save energy and money. Using LED energy-efficient bulbs, purchasing energy-saving appliances, turning off TVs and printers when not in use, and running fewer appliances at peak times can all lead to money in the bank. 


2. Satisfy Food Cravings at Home

Dining out is a convenience many of us indulge in. Unfortunately, it is also a bad habit when it comes to spending. We all know it is much less expensive to eat at home so getting in the habit of making a fresh hot batch of fries at home when you are craving them just makes sense…and cents! Learn to enjoy cooking and have fun making copycat recipes of your favorite restaurant goodies at home instead. 


3. Spend on Quality Goods and Save

When it comes to things that make a huge difference in your life or those that you often use, it’s typically better to spend your money on quality items that will last longer and end up saving you money in the long run. Choosing nice items like furniture and other home goods is a great investment for the future. 



Enjoy our budgeting and money-saving tips to maximize your budget by downloading our free guide:

Budgeting Tips and Tricks: Quick Solutions to Start Saving Today



4.  Use the 5-Question Rule 

When considering a purchase, make it a habit of using the 5-Question Rule. Ask yourself these questions: Is this a want or a need? Do I need it? Do I see myself using it? How often? Is it worth the time? If you ask yourself these questions every time you want to buy something, you will eventually learn better spending habits.


5. Stop Buying Bottled Water

Using tap water versus bottled water is a win-win for everyone. Not only is it eco-friendly and better for you; but it will also save you money. Make it a habit to take your own water bottle wherever you go to avoid paying for bottled water while out. If your tap water at home is not the best, you can buy an inexpensive water filter at your local home store for better-tasting water on tap. 


6. Use the 24-Hour Rule Before Impulse Buying

Break the habit of impulse spending by using the 24-Hour Rule before buying. Give yourself a full 24 hours before actually making the purchase so that you have a chance to think about whether you really need the item or service. Often contemplating a large purchase will result in realizing it wasn’t really needed at all.


woman buying clothing on sale to help her budget


7. Take Advantage of Discounts

A little research can offer a variety of different types of coupons and discounts for purchases when possible. You might be surprised to find a coupon for your favorite shampoo or a discount on non-perishable food items that you can store for later use. Coupons and other deals can also make dining out more affordable when you do decide to splurge occasionally. 


8. Have Good Financial Role Models 

While celebrities have glamorous lives that show them with expensive clothes, cars, and homes; make it a habit of living in the real world. Most of us do not have the same financial situation as they do, nor do we receive the gifted clothing and jewelry they show off or the borrowed (and sometimes fake) bling in photos. Choose financial role models who teach you how to save money and manage your finances instead. 


Maximize Your Savings with CCCU


If you’re looking to spend less, so you can add a little more money to your Savings Account or maximize your earnings with a High-Yield Checking Account; these tips on how to save money are a good way to get started. Budgeting isn’t always easy but remember that good spending habits are the key to financial success! If you have questions about budgeting and how to save money, contact CCCU today! 

For more smart saving and budgeting tips for all ages, review our Budgeting Tips and Tricks: Quick Solutions to Start Saving Today Guide.