Share this article:

10 Easy Ways To Cut Your Budget And Save More Money In 2019


According to the CNBS news network, 20% of Americans don’t save at all. Further surprising, more than 40% of Americans have less than $10,000 in savings for retirement. This is a worrying trend that is becoming apparent all over the world. Most people have thrown away caution and are spending every penny they make without thinking about tomorrow. If you want to grow your wealth and become financially stable, you must invest in the saving culture. Although saving is not a walk in the park, it is the only way to grow your wealth and prepare for the future. You can make changes to your spending, that will help you save more money in 2019. The other option is to maintain your living standards and find ways to increase your income. However, in most cases, saving has got nothing to do with the income. Saving is about discipline. It is your choice to spend and when to spend. In this post, we explore 10 sure ways you can use to increase your savings in 2019.

1. Create A Budget


Creating a budget may sound like a cliche but it is one of the best ways to manage personal finances. When making a personal budget, you should be as realistic as possible. The budget should help you set your saving goals. According to research done by USNews, only 16 % of Americans save more than 15% of their annual income. This is a scary place to be if you are trying to improve your life. The same research shows that more than 60% of Americans would struggle to raise $1000 in case of an emergency. This shows how bad the situation is when it comes to saving culture.

If you want to have some realistic savings, create a budget starting with the essentials. According to the Financial Times, a basic family should not spend more than 60 percent of their income on utilities and basic commodities. If your Utilities are already claiming more than two-thirds of your income, it is time to downgrade. You may decide to move to a less costly house or cut on monthly spending on food and other utilities.

The easy target when making budget cuts is entertainment. Although most people want to retain their fancy lifestyles, there are many ways to save more money on entertainment.

Once you have your utilities and monthly expenditure figured out. Set aside some percentage for emergencies. The remaining amount should be placed into savings. You should aim at increasing your savings every year. If you have been saving 10% of your monthly income, you should aim at saving more than 20% in the next 45 years or so. Increase your savings strategically to avoid falling back.

2. Open A Savings Account


According to Statista, the personal saving rate in the US hit an all-time low of 2.4% in 2017. This is an alarming figure compared to the previous years where personal saving was at an average of 10%. This shift can be attributed to the decline in savings accounts. Most people have adapted to a lifestyle that encourages spending without the thought of saving. Most people in the middle class are now borrowing to finance their expensive lifestyles.

If you have a saving phobia, it is time to let the banks help you. Opening a savings account will help you hold on to some amount that you can use for a major project in the future. Open a fixed savings account that only allows you to withdraw money after a given period. Make a personal effort to ensure that you save the set amount in the account every month. It is your duty to ensure that you deduct the set percentage of your income and save more money every month. Stay disciplined and make your saving deductions before you start spending. If you receive your salary through the bank, you can make an agreement with your bank to automatically deduct a certain percentage and deposit to your savings accounts.

3. Stop Using Credit Cards


According to NerdWallet, credit card debts carried from month to month in the US alone have hit an all-time high of 420.22 billion. The rate at which Americans are using credit cards is alarming. Many people have credit card debts that outweigh their salaries. If you want to develop your life, you have to realize that credit cards do not give out free money. Every time you use your credit card, you spend your money and pay the credit card company for spending it. Credit card companies charge very high interest rates. According to, the low-interest credit cards average at 12% while high-interest credit cards may charge as high as 29%. By using a credit card, you spend the money you would have saved paying your credit card interest. It is surprising that most American are willing to pay 15% interest on credit cards. Instead of using a credit card and paying the interest rates, use a debit card or pay with cash. This will help control your spending behaviors and help enhance your saving efforts.

4. Eat and Stay At Home


The mistake that most people make is spending most of their time out with friends. Research done by Forbes Magazine shows that ordering ready meals is five times more expensive than cooking at home. This is not surprising since most restaurants hike food prices. However, high prices have not stopped people from ordering food deliveries. According to Statista, one out of 10 Americans orders food online on a daily basis.

If you wish to save more money, it is high time you change the way you spend your money on food and entertainment. Stay at home, watch your football at home and eat at home. Avoid spending too much time with friends at restaurants and clubs. By staying at home you reduce your spending on food and drinks by over 50%.

5. Declutter


One problem with heavy spenders is buying things that they do not need. If your house looks like a dumping site it is time to bring back some order. If you realize that you have more clothes than you wear, more furniture than your home can hold or more food than you can eat, it is time to start creating space. Get rid of all the excess stuff at home. You can sell them and add the money to your savings accounts. This will help you create some order and determine what is necessary and what is not necessary. Once you are clear on what is important, set rules to help you uphold the integrity of your home. Do not buy stuff that may not be helpful at home. Try to maintain a clean space where everything at home serves a certain purpose. Before you buy new furniture, ensure that you get rid of the one you want to replace. This will help you stay accountable for what you are doing and save more money in 2019.

6. Use Freebies and Coupons


One of the most effective ways of saving is using shopping incentives. If you love eating at restaurants, opt for ones that offer freebies or use coupons to reduce the amount of money spent. You can find discounts on all products and services online. There are many companies that are looking to attract clients looking to save more money by offering free products and shopping coupons. If you are trying to cut down on entertainment, you can utilize free travel offers. Most airlines and travel agencies are willing to compensate bloggers and social media users who share their products online. If you can get discounts of up to $1000 dollars on your family vacation, it is easy for you to redirect that amount into your savings account.

7. Cut Down On Subscriptions


What is the point of having cable TV and still pay for other subscriptions? Entertainment subscriptions such as iTunes, Netflix and so on are draining more people with monthly bills. Many people are using more subscriptions than they need. In essence, most people stay at home for a few hours in a day but still have more than 5 subscriptions to entertainment outlets. Instead of spending so much money on entertainment that you are not using, cut down to the essentials. You can start by doing an audit of how you use your entertainment subscriptions. You will realize that probably only one of your subscriptions is important to you. If you want to have many entertainment options try using discounted subscriptions. There are many entertainment companies that are willing to give out discount depending on your subscriptions.

8. Take an Extra Job


As already mentioned, extra income is not the solution to saving. However, taking an extra job can help you save more money in 2019 if you are already practicing some kind of saving. If you are saving, say 20% of your income, an extra job can help you increase your monthly savings by up to thousands by taking a part-time job. Part-Time jobs vary depending on your profession and interests. You can start an online business or venture into freelancing. Extra 2 hours of work online can help you increase your income by up to $100per day. Use this amount to boost your monthly savings. It is important to note that when you take an extra job the aim should be to save more money. If you take an extra job and use the money for your entertainment you won’t achieve much as much as saving is concerned.

9. Master the 30-day rule.


The 30-day rule has become popular among people trying to save more money. With this rule, you simply do not buy anything without planning. You have to stop instant brought about by impulsive buying. This rule forces you to wait until the end of the month so that you can plan for your shopping. Shopping once a month is a good way and helps you gratify your desires for shopping. It is also a good way of buying what is necessary. Impulsive buying may lead you to buy things that you do not need and often results in junk stuff at home. However, with planned monthly shopping, you get the chance to decide what is important when shopping.

10. Write a list before you go shopping


Another amazing way to save more money in 2019 is using a shopping list. Shopping lists do not only help you stick to buying what is important but they also help you stick to your budget. When you visit a shopping store with your list, you go straight to what you want. Avoid the temptations brought about by advertisements. When you visit the grocery store, make sure you have a list of all the essentials. This will help you avoid buying food that may go to waste

It is also important to note that buying on large scale is a good way of saving. If you make a comparison between the price of a liter of cooking oil from any brand to the price of 5 liters of the same, you will realize there is a significant percentage difference in price per liter of oil. This is an incentive used by manufacturers to entice buyers to buy more. You can use such incentives to your advantage. Buy commodities that are not perishable in large amounts and utilize them well to save more money.


The practice of saving money is not easy. Most people tend to spend all their earning without caring about the future. It is important to have some kind of saving for the future or emergencies. If you desire to save more money, you should start by reducing your expenditure. Create a budget to help plan on how you spend your money. There are many factors that go into creating a good budget. However, after creating a budget and distributing your income accordingly, the important factor is staying true to it. It is your duty to set the rules and follow them. As much as you can have all the saving tips at your fingertips, it is a waste of time unless you can put them to practice.

Share this article:

Leave a Reply