3 Things to Do Today to Save Money

by Don Smith

All products and services featured on this site are independently selected by our authors and editors. If you buy something through links on our site, we may earn an affiliate commission.

Here are 3 things that you need to do today to save hundreds if not thousands of dollars this year.

1.  Review Your Monthly Bills

For most people, monthly bills are the bulk of the expenses.  Have you taken a good look at yours lately and asked for a better rate or stopped subscriptions to things you aren't using?

Cable, phone, and utility companies are billion-dollar companies because most people never stop and look at this regularly.  Most people just get the bill and pay it, they don't go through it with a fine-tooth comb or call and ask for a better rate.

Did you realize that if you save just $20 each month that adds up to $1,200 in 5 years?

That's money in your pocket!  Taking a few minutes to do this can save you thousands every year!

Here's an article describing exactly how I saved $600 over 2 years on my cable bill

2.  Make a Plan

Are you planning where you want your money to go each month or are you just wondering “Where did all my money go?” at the end of the month?

Can I be perfectly honest with you for a moment?  If you are not watching what you're spending, you'll never get ahead.  You are losing literally thousands of dollars without even thinking about it!!!  If you ever want to break out of living paycheck to paycheck, you'll have to get intentional about the process.  And yes, it can be done, I know many people who are completely debt-free including their houses that do not make a ton of money.

I know a number of millionaires personally, and most of them still plan out what they do with their money each month.  That's part of how they became millionaires. It helps that they invested in their earning potential too, but you have to look at both income and expenses if you want to join them. I know it isn't fun, but if you want to be in control of where your money goes, you MUST plan it out!

If you aren't yet on a budget, grab a copy of You Need a Budget (YNAB) which is what I use to track my finances.  If you are not already consistently budgeting, it's easy to save thousands if you invest a little bit now in planning and tracking your spending.

3. Look at Your Housing & Vehicles

My bet is that if you are like most people, you could easily save tens of thousands of dollars on your housing & vehicle if you chose to.  What could you do with that kind of money?

Could you get by on an older yet still reliable vehicle or a smaller house?

It is an emotional thing I know to consider changing vehicles or houses, but I challenge you to put a pencil to the numbers and really think hard about it.  This is one of the biggest but most commonly ignored areas of savings, make sure you're making a logical choice on it.

Hopefully, these tips gave you some ideas where you can save some money. Enjoy!

About the Author 

Don Smith

Happily married with five kids, Smith owns a technology company, is the founder of this site, has served on the board of directors for multiple companies, and loves playing soccer, hiking, and mentoring.

{"email":"Email address invalid","url":"Website address invalid","required":"Required field missing"}

Budget if you want to have financial peace. We've all heard it, if you want to be rich, you need to budget.

Read More
Why you won’t become a millionaire quickly by budgeting alone

I recently read a post in a financial group asking about how to avoid finance charges from overdrafts. The OP was pissed

Read More
The problem isn’t the bank: Fixing overdraft charges

Warren Buffett, one of the richest men on the planet and considered by many to be the best investor that ever lived,

Read More
How to Invest In Yourself

I'm a big proponent of spending quality time with family. Unfortunately, vacations can add up in a hurry, especially flights. That's why

Read More
How I Got Free Flights to Hawaii

A few weeks ago, our washer started staining clothes.  This was after our dryer had already started eating clothes! More than a

Read More
3 Ways to Save on Major Appliances

I recently had the pleasure of watching A Walk in the Woods, and I loved it. What I think I like most

Read More
What A Walk in the Woods Can Teach All of Us

I saw a post the other day from a small business owner who was annoyed about the cost of getting a website

Read More
Stop Thinking About Hours When it Comes to Money

We often believe that the key to success is making some massive change in our lives. It is possible to take significant

Read More
To Succeed, Do Something Small Today, and Tomorrow, and the Day After That

“Ultimately, there's one investment that supersedes all others: Invest in yourself,” Buffett says in a recent interview with Forbes. “Nobody can take

Read More
What is Your Budget for Investing in Yourself?

This month's personal development book recommendation is another classic. The book “Rich Dad Poor Dad: What the Rich Teach Their Kids About

Read More
Rich Dad Poor Dad: Personal Development Book of the Month

You may have seen me writing about the dangers of credit cards, yet if you go out to dinner with the owner

Read More
Why Most Millionaires Use Credit Cards

Most of us have had the experience of feeling like we're incredibly busy, yet not feeling like we're getting the important things

Read More
Personal Development Book of The Month: First Things First by Stephen R. Covey, A. Roger Merrill, and Rebecca R. Merrill (Author)


Get new articles and course discounts from leading providers every Friday in your inbox with your free subscription!