5 Ways to Save Money – From Frugal People to Financial Independence

What makes these ways to save money different? They range from tapping the brains of frugal people to allowing your kids to be financially independent! A small income or budget doesn’t have to slow or stop your financial growth.

Before the money tips, a quip:

“I have enough money to last me the rest of my life, unless I buy something.” ~ Jackie Mason.

One of the best ways to create financial abundance is to buy less and invest more. I’m not necessarily talking about investing in stocks or real estate…investing in yourself by learning about your tax write-offs or getting more education or job training can pay off big time in the long run! If you have a small income, read 10,001 Ways to Live Large on a Small Budget.

And, here are five ways to save a little more money every month…

5 Smart Ways to Save Money

1. Get budget help from a frugal person…or a financial planner. If you’re struggling to stick to your household budget – much less invest in your career or pay off your mortgage loan! – find a frugal person. Sit down with her, share your expenses and income, and ask how her to help you spend less and save more money. Frugal people don’t just pinch pennies; they know how to make smart money decisions. Let them help you achieve your financial goals.

2. Find two new ways to minimize your financial expenses every month. You’ve heard all the smart ways to save money tips before…but do you actually implement them? Here’s one way to make those money saving tips work: practice two new ways to save money every month. For instance, you could focus on saving money on your grocery bill and reducing transportation costs one month. The next month, concentrate on spending less money on lunches and saving more money by not letting leftover food go to waste. It takes some initial time and effort to incorporate those money saving tips into your everyday life, but it eventually becomes part of your lifestyle….and they’ll speed up your financial growth.

3. Find ways to maximize your income. Are you due for a promotion or raise at work? Does your employment make full use of your education and training? Can you take courses that will elevate you to the next level in your career? Can you create sources of passive income? This all depends on your job situation, work environment, and even the city you live in…but it’s worth exploring.

4. Avoid the “house rich, money poor” scenario. We’re buying a new home, and are tempted to get a bigger mortgage than we had before. There are so many beautiful homes with beautiful views in Vancouver! But, we’ve decided it’s more important to pay off a smaller mortgage and live in a smaller home than to have a big mortgage and a big house. If you have no hope of paying off your mortgage (no matter how many smart ways to save money you read!), consider selling, downsizing, and finding a home that you can afford to pay off within ten years.

5. Let your kids pay their own university or college tuition. Both my husband and I had student loans. We worked our way through university, and we paid off our student loans within five years of graduating. If you have kids, teach them financial responsibility by letting them pay their own way through college. You don’t need to give money to be a supportive, loving, generous parent.

For more money saving tips, read How to Attract Money When You’re Starting Over.

What do you think of these five ways to save money? I welcome your comments below.

I updated this article, and posted it on my New Beginnings blog. Come and read it again! Tips on Saving Money for Students.

Before You Go...

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Laurie Pawlik-Kienlen
I'm a full-time freelance writer and blogger in Vancouver, BC. I created the "Quips and Tips" blog series; my degrees are in Education, Psychology, and Social Work. I welcome your comments below, but I don't give advice. I can offer you a prayer and a blessing, though! You'd be surprised how helpful a prayer can be....

10 Responses

  1. Laurie says:

    The smartest way to save money is to focus on something you really really want. We’re focusing on our mortgage – we have a huge one! – and that makes up for the sacrifices we have to make.

    I also think it’s brilliant to create sources of passive income. My Quips and Tips blogs are sources of income – not alot, but enough to make an extra mortgage payment a month!

  2. Laurie Pawlik-Kienlen says:

    Leaving the credit card at home is definitely a smart way to save money, especially if you’re an impulse shopper!

    Thanks for the tip.

  3. CS says:

    Leave the check card at home. It encourages more spending.

  4. Prudence says:

    Great tips. I’ve been doing these as well.. With everything so expensive right now, we want to save as much as we can, right? Especially with groceries, gas and clothing.

  5. Laurie Pawlik-Kienlen says:

    You’re welcome, Bill! I think saving money is a habit that builds on itself…the more money you save (or invest), the more money you want to keep saving (and investing). I hope you save enough money and enjoy enough financial growth to start your business.

    Good luck,
    .-= Laurie Pawlik-Kienlen´s last blog post …Money Skills – Tips for Teaching Financial Literacy to Kids =-.

  6. Bill Meyer says:


    Thank you for these smart ways to save money. Every little money tip helps me save for my dream business!


  7. Laurie Pawlik-Kienlen says:


    Thanks for these great money saving tips! #4 remnds me of how we get our entertaiment — we always rent movies from the library, and almost never rent them from a video store. Those quarters and dimes saved go a long way towards financial growth….
    .-= Laurie Pawlik-Kienlen´s last blog post …Establish Good Financial Habits – 6 Ways to Make Money Saving Tips Stick =-.

  8. Ellen S. says:

    The concept of “saving money” is easier said than done for most people. I understand that it is ‘easy and logical’ for some people, but I also understand it can be a difficult habit to break for others.

    If you’re looking to save money or change your lifestyle, my advice is to take it in “baby-steps” because it won’t happen overnight. Here are some tips that helped me out.

    1. Always pay more than the minimum on any credit card payments – if you don’t believe me you can calculate it for yourself (http://www.csgnetwork.com/creditcardmincalc.html)
    2. Use coupons when grocery shopping
    3. Try online shopping – it’s saves on gas & they have bigger markdowns (http://www.shoptivity.com)
    4. Read a book – it’s cheaper than going to a movie (http://onlinebooks.library.upenn.edu/)
    5. Know your budget! (https://www.dl.ed.gov/borrower/BudgetCalculator.do)

    Good luck and happy savings!

  9. Laurie Pawlik-Kienlen says:

    Hi Lizzie,

    Making money with Google Adsense depends on many factors. Go to my Quips and Tips for Successful Writers website — I write about blogging for money all the time! Just Google “Quips and Tips”, and you should see Successful Writers right away.

    .-= Laurie Pawlik-Kienlen´s last blog post …Smart Ways to Save Money – 5 Tips for Financial Growth =-.

  10. Lizzie says:

    How much money could i make with adsense ?

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