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Do you waste a lot of money? Would you like to stop wasting money? I know this can be a pain point for a lot of people, but the good news is that there are some simple, straightforward solutions you can implement to get your finances in order.
Saving money can seem like a pain, but it really doesn’t have to be. These strategies mostly focus on simplifying the process so that penny-pinching isn’t necessary.
Although frugality is important to me, so is having a productive and happy life! And, indeed, there’s no reason to think you can’t do the same.
Why Do People Waste Money?
There are lots of reasons people waste money, but I imagine the main reason is that we all lead very busy lives. Even though many of the items on this list don’t take much time at all to implement, spending any amount of time on anything can seem like too much when you’re busy.
But that is just one side of it. I think many people don’t realize how easy it is to stop wasting money. You hear a lot of talk about skipping your morning coffee. Plus other expenses that are really pretty small.
Whatever the reason people waste money, I’m going to help you spend less in a more productive way.
How to Stop Wasting Money
So, how do we stop wasting money? Instead of thinking about your morning latte or going to the bar on the weekends, we should consider the bigger expenses.
Why? Because these expenses are, well, bigger. They make up the biggest part of our budget – even if we don’t think about them as often.
I tend to refer to this as the “big three” – housing, transportation, and food. But there are others. Here, we’ll focus on those categories, plus a few others.
1. Cut Back on Housing Expenses
This is my most common suggestion because it is potentially the most powerful. That’s because it is the single biggest expense most of us have, accounting for around 25% of our budgets.

Last year, I moved into a house with roommates and it cut my rent in half.
But that is far from the only way to reduce your housing costs. Here is a quick list of some other ways to save on housing:
- House hack – rent out spare bedrooms, or buy a multi-family home and rent out the other units
- Become a full-time house sitter – live rent-free while seeing some amazing sights
- Live in an RV or mobile home
- Get a tiny house
For more ideas, see my complete post about ways to save on housing.
For the record, I’m aware that many of these ideas won’t work for everyone. However, if you have the means to do so, you should definitely consider attacking your housing expenses first.
I cut my rent in half when I moved in with roommates. Referencing the data above (which is already outdated), you have around $20,000 in housing expenses if you are average.
Cutting that in half would mean saving $10,000 per year. That is a crazy amount of savings, which is why I always recommend this option first.
2. Bought an Electric Vehicle
One of the common misconceptions about electric vehicles is that they are inherently more costly than internal combustion engine (ICE) vehicles, but the opposite is actually true.
Why? One word: gas. Well, gas, and other things, like maintenance. But gas is the main thing.
I leased a Chevy Volt in 2018 (the second to last model year). I’m only mentioning this to show I actually went electric, though the way I did it is actually not the most economical way.
In fact, we are probably at least three years away from the point where the used electric vehicle market becomes mature enough for the masses. I say that because, well, maximizing your savings on transportation necessitates buying used.
That said, it is already possible to buy electric vehicles such as the Nissan Leaf, Ford Focus Electric, and Chevy Spark for < $10k. These vehicles aren’te exactly great, but as the electric vehicle market expands, so will your used options.
And, of course, electric vehicles don’t use gas. Electricity is much cheaper, especially if you can charge at home. And these vehicles never need oil changes.
So you can see why vehicles that don’t use gas, are under $10k, and are more reliable in the long run, will become the better option for those with smaller budgets.
This will eventually become the go-to option for those looking to save on transportation costs. I’m calling it.
3. Embraced Used Products
I’m not just talking about used cars here. No, sir (or madam!). Nowadays, anytime I’m buying pretty much anything, I stop and thing, “Can I get this used?”
Now, I should say that it does depend on the type of item. For example, if the thing I’m buying is a small piece of electronic equipment that’s less than $50 (like a flash drive), I usually won’t bother with used.
That’s because, even if I can get one that’s used, it won’t be much cheaper. Such is not the case for a used t-shirt. New ones might be under $50, but used ones can be had for just a few bucks.
4. Cut the Cord
“Cutting the cord” is all the rage today, but that is for good reason. That’s because this one isn’t purely about saving money.
Ask yourself this question: when was the last time you watched live TV?
If the answer is “today,” well, this one may not be for you. But I know that, personally, I rarely watch live TV anymore.
And if you are more like me, why not ditch cable? There’s little reason to keep something if you aren’t really using it.
5. Switched to Google Fi



I didn’t just switch to save money, though. Google Fi works almost anywhere in the world (except maybe Antarctica). Of course, you never need a SIM card – in fact, it uses virtual SIM by default.
See my full Google Fi review to learn more.
6. Stopped Paying So Much For Coffee
Yes, I know I said you shouldn’t worry so much about how much that morning coffee is costing you. And guess what? That is still true.
See, this list is somewhat in order of precedence, which is why this item is a bit farther down. Think of it this way: if you have already tried all of the previous ideas, and still need to cut more in your budget, try this.
One easy way to stop wasting so much on coffee is by using sites like Survey Junkie. As you can probably guess, Survey Junkie is a site where you take surveys and earn points in exchange.
Then, you can exchange those points for some Starbucks gift cards! Cha-ching!
With Survey Junkie, you can get free Starbucks by claiming Starbucks gift cards for as little as $10! Not bad at all.
7. Embraced Generics
8. Embraced Dollar Stores
9. Gave Up Meat (Mostly)


10. Used Trim to Find Unnecessary Expenses
I’ve been using Trim to help me cut out unnecessary expenses. The reason Trim is so nice is because it does basically all of the work for you.
Have you ever signed up for something because you just wanted to try it, and you got pulled into a subscription? And then completely forgot about it? Trim will find those for you.
It also negotiates bank fees for you. So if you are paying high APR on loans for example, they will negotiate those for you. No need to do any of the work yourself.
See my Trim review to learn more.
11. Worrying About My Investments
How to Stop Wasting Money: Conclusion
These are just a few of the ways to stop wasting money. Hopefully you have learned a thing or two from these ideas.
Do you have a great way to stop wasting money that I didn’t mention? If so, let me know in the comments.
Yo! Want even more ideas for how you can take your finances to the next level? Give these a shot:
Yo! Want even more ideas for how you can take your finances to the next level? Give these a shot:
- Start a blog. While starting a blog is certainly not a “quick win” when it comes to improving your finances, it can be a great way to eventually make some nice, passive income. Or if you already have products you sell as a side hustle, you can use a blog to find a new audience to sell to. I recommend starting on SiteGround if you want to start a blog.
- Try freelancing. Freelancing can be a great way to make extra money because not only can you set your own schedule and work remotely, but you can do almost any type of work as a freelancer. Freelance writing is popular, but there is also graphic design, programming, and much more. Check out sites such as Freelance Writing Gigs and Remoteok.io to find these jobs.
- Take surveys for extra money. There are a huge number of survey sites out there, and it can be hard to know which ones are worth your time. I recommend starting with sites such as Swagbucks, Survey Junkie, Pinecone Research, Opinion Outpost, and MyPoints. These sites are completely free to join and can help you earn a few extra bucks in your free time. Use it to buy your morning coffee or fill up your gas tank.
- Become a dog walker. This is one of my favorite hobbies/side hustles. The reason I refer to it as a hobby is because I don’t make a ton doing it. However, I love dogs, and I have been slowly raising my rates. It also depends on where you live; if there is a ton of demand, you could probably do this as a job. If you want to try it out, I recommend Rover. You’ll get a $20 if you use my link!
- Sell stuff on eBay. If you’d like to make a decent income on the side, or even just get rid of some of your old stuff, why not sell stuff on eBay? Believe it or not, eBay is still a great place to sell various items – though it may fare better for collector’s items or unique items these days.
- Drive people around in your car. No, I don’t mean drive random people around for no reason. That would be…weird. I’m referring to driving for Uber and/or Lyft. Each service is available in different areas, so check whether one (or both) is available in your area. This can be a decent way to make some extra money.
- Let other people drive around in your car. While I haven’t tried this myself yet, I know it is possible to rent out your car through services like Turo. Think of it like Airbnb but for your car. If you have a car but for whatever reason you often find it sitting in the driveway, consider renting it out to others.
- Have a garage sale or yard sale. You might think this is an outdated way of doing things, but there can still be value in hosting a garage sale. Of course, that will be even more true if you have a large house that has been collecting “stuff” for years (or decades). You likely have lots of hidden treasures that other people would find interesting.
- Declutter your home. If you have stuff to get rid of, but you really don’t want to go to the hassle of selling on eBay or setting up a garage sale (trust me, I hear ya), you could consider using a service such as Decluttr. While the service focuses mainly on selling tech, there are other items they also accept. This one service will let you sell your items and even cover the shipping. Learn more by checking out my Decluttr review.
- Learn a craft and sell on Etsy. This isn’t something I have tried myself, but I know several people out there who make a good amount of money by selling things on Etsy. The site mainly focuses on arts & crafts, though you can also make money here by selling things such as printables. If that sounds like your jam, I’d recommend checking it out.
I have only just covered a few ideas here. For a more complete list, check out my list of the best work from home jobs.