Saving money is one of those things we all know we should be doing, but sometimes it feels easier said than done. We want to be smart with our spending, but life’s demands can get in the way. Trust me, I’ve been there—feeling like no matter how hard I tried, I wasn’t making much progress. But over time, I discovered a few simple strategies that made a real difference.
I want to share with you the methods that have helped me start saving more consistently. These aren’t complicated or time-consuming. These are just easy, practical steps that can start putting extra cash back in your pocket from today.
1. Sign Up for Rakuten and Install Rakuten Browser Extension
Rakuten is a free browser extension that allows you to earn cash back whenever you shop at participating retailers. Once installed, the extension will automatically notify you when you visit a partner site (such as Adidas) and ask if you’d like to activate cash back. If you do, Rakuten earns a commission from your purchase, which it shares with you in the form of cashback.
Rakuten’s large membership gives it strong bargaining power, enabling it to negotiate great deals with a wide variety of retailers. I shop at many online stores that partner with Rakuten, so I almost always get cash back. A great thing about Rakuten is that it stacks with coupons. For example, if Adidas is offering 20% off and Rakuten is giving 10% cashback, your total discount becomes 30%! Amazing, right?
If you’d like to give Rakuten a try, feel free to use my referral link: www.rakuten.com/r/GUOBIA5?eeid=28187. When you make a $30+ purchase within 90 days after joining Rakuten, both of us will earn a $30 bonus.
2. Switch to a Budget-Friendly Phone Plan Like Mint Mobile
A friend first introduced me to Mint Mobile, and it’s been a game-changer. Before switching, I was paying $60+ per month with Verizon. Mint Mobile offers plans as low as $15 per month, and I’m currently paying just $20 per month for unlimited talk and text plus 15GB of high-speed 5G/4G LTE data. With many major carriers, you can’t even get rates this low with a large family plan!
At first, I was skeptical about the call quality and data speeds, but after using Mint Mobile for over two years, I’ve had no complaints. Mint Mobile operates on T-Mobile’s network, so if T-Mobile works well in your area, Mint Mobile will too. I recommend starting with a 3-month plan to test it out.
Switching to Mint Mobile has saved me over $500 annually. If you’d like to try it, use my referral link: http://fbuy.me/sVZKS, and you’ll receive a $15 credit.
3. Don’t Let Your Cash Sit Idle — Consider a High-Yield Savings Account
With many banks now offering savings accounts with APYs over 4%, it’s a great time to put any idle cash to work. For example, if you have $10,000 sitting in a regular checking account, you could earn $400+ a year by moving it to a high-yield savings account.
I personally use Robinhood to earn interest on my cash. Robinhood is a trading platform. As a Robinhood Gold member ($5/month), I get a 4.5% APY on any uninvested funds (APY as of 2024/10). You might wonder, “Why not invest in stocks?” Well, after three years of trading, I’ve learned that while you won’t make money if you don’t trade, you could lose money if you do. My returns from trading were never as high as the 4.5% APY I’m getting now by just leaving my cash uninvested.
There are many good high-yield options out there, but if you’re interested in Robinhood, you can use my referral link: https://join.robinhood.com/guobial-d7cb51 for a free stock after you sign up.
These are just a few methods I use to save extra cash. I’ll keep updating this post as I find new ways to save, so it becomes even more comprehensive over time. I hope these tips help you save more, and that you can use your savings for things that bring you happiness and joy.