Do you feel like there isn’t enough money at the end of the month? You’re not alone. Affordability and cost of living are among the biggest financial concerns for most people.
Getting more from your money may seem like wishful thinking, but cutting everyday expenses and putting extra money in your pocket may be more feasible than you think. Finder.com examines 10 ways to cut your costs and save money.
Table of Contents
1. Reduce unnecessary bank fees
Are all the bank account features you pay for worth the fees? If you rarely use your account for anything other than everyday spending and money transfers, it may be worth looking into fee-free bank accounts.
Spending $5 to $15 a month to maintain your account doesn’t sound like much. But over a year, that’s $60 to $180 – enough to cover unexpected expenses or a fill-up or two at the gas station.
If you need the features of a paid account, see if you can open one that waives the monthly fee if you meet certain criteria, such as: B. setting up direct deposits or maintaining a minimum balance. Keep an eye out for new account offers to get an extra bonus on your savings.
You wouldn’t throw physical cash down the drain, so stop wasting money on unnecessary account fees.
2. Transfer your credit card balance to get a cheaper rate
Don’t commit to endless interest payments on credit cards. Reduce or eliminate the cost of your debt by transferring your balance to a card with a lower interest rate.
Credit card interest rates are currently around 21%, and the average cardholder has a total balance of just over $6,500. That means the average cardholder pays over $113 per month in interest alone, or over $1,350 per year.
Switching to a card with a low or 0% balance transfer offer will help you pay off your debt faster because more of your monthly payment will go toward reducing the amount you owe.
However, credit transfer offers will expire, after which higher standard rates will come into effect. Therefore, it may be worth switching to a credit card with a low standard rate instead.
3. Negotiate your existing loan terms
Renting comes with a price tag. However, it can be easier to manage debts like car loans, personal loans and mortgages by adjusting factors like loan term and payment frequency to suit your budget.
If you extend the term of your loan, your payments will go down and you will free up space in your budget. However, you will pay more in the long run.
One trick to pay off debt faster is to switch from monthly to biweekly payments (i.e. every two weeks).
You might think that two payments per month would mean 24 payments per year. But a year is actually made up of 26 two-week periods. So you’re getting the equivalent of an additional monthly payment, which can save you a lot in interest over the life of a mortgage or car loan.
Interest isn’t the only cost to avoid. Avoid other fees that increase the cost of a loan, such as optional insurance coverage and late or missed payment fees.
Whether your goal is to lower your payments or reduce borrowing costs, stay focused on your goal and don’t get distracted by unnecessary add-ons.
4. Round up your transactions and save or invest the difference
Saving for tomorrow may not feel right if you’re struggling to make ends meet today. Luckily, there are ways to set aside a little here and there without putting a significant dent in your budget.
Some banks offer a “round-up” feature that rounds your purchases to the nearest dollar and deposits the difference into your savings. Micro-investing apps do the same thing, but instead deposit the difference into an investment account for potentially higher returns.
If you’re willing to spend $2.49 on a cup of coffee twice a week, why not round it up to $3 and save 51 cents? After a year you will have over $53. The effect is even greater when you combine all your transactions, including groceries, gas, online shopping and dining out.
Most banks also allow you to schedule automatic transfers into your savings to ensure you’re putting money aside on a regular basis. It doesn’t matter how much you transfer – every dollar counts.
5. Optimize your streaming services
Compared to your rent or mortgage payment, the cost of streaming seems like a drop in the ocean.
However, reality paints a different picture. Deloitte reports that the average American household spends $69 per month on video streaming services. That’s a whopping $828 per year.
Setting your subscription payments on autopilot increases the likelihood that you’ll pay more than you think. Prices may have increased since you last checked, or you may be paying for platforms or multi-user packages that you no longer need.
Taking an hour to review your subscriptions can save you hundreds of dollars annually.
You don’t have to say goodbye to your favorite movies and shows when you subscribe to rotating services, so you only pay for what you’re watching.
6. Reduce food waste
Food waste is bigger than you think. ReFED estimates that the average American spent over $760 on uneaten food in 2024.
A study by Love Food Hate Waste Canada estimates that Canadian households waste $1,300 worth of food per year. Worse still, the organization estimates that 63% of food thrown away is actually fit to eat.
Avoid spending money on foods you don’t want to eat by planning your meals and only buying what’s on your shopping list. Cook smaller portions, combine leftovers into new meals, and freeze anything you can’t eat within a few days.
Conclusion
If you need some wiggle room in your budget, free up funds by switching to lower-cost financial products, avoiding wasteful spending and automatically saving on purchases. By thinking outside the box, you may be able to balance your budget and make money easier than you think.
This story was produced by finder and reviewed and distributed by Stacker.
Copyright 2026 Stacker Media, LLC
This story was originally published July 23, 2026 at 3:00 am.
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