Getting a handle on your finances can seem like an overwhelming New Year’s resolution, but once you get started, you’ll find that there are plenty of options for saving money for the new year. Check out these small ways to save money that’ll make a big impact on your 2026 savings efforts!
Establish a Yearly Budget
Having a New Year’s budget is a healthy financial habit that helps categorize everything from living essentials to flexible spending—whether you’re moving to a new city or staying in place. A good budget visualizes how much money is spent in each category at the end of each month, providing a roadmap for categories you can cut back on or put into savings. Experiment with different budget plans like the 50/20/30 or Zero-Based Budget to see what works best for you. If you’ve recently experienced a change in your lifestyle, such as getting married or moving, you may want to reevaluate your plan before the year ends.
Set Savings Goals
Having smart savings strategies is key to reaching financial goals, whether it’s a down payment on a home, buying a new car, or paying off long-term loans. Ideally, save around 20% of your monthly income for savings and debt repayment, although your specific percentage will depend on your plan. Use a savings calculator to create a realistic budget and explore how adjusting your timeline or factoring in interest can help you hit your target more comfortably. Don’t forget to plan for retirement: Contribute regularly to your 401(k) or other retirement fund, and check if your employer offers a matching contribution.
Try the 52-Week Money Challenge
Looking for easy ways to save money? Try the 52-Week Money Challenge! There are no complicated rules to follow—just print or download the chart, and every week, you’ll add one more dollar to each week’s goal. By Week 52, over $1,000 will be set aside! Be sure to keep the chart in a visible spot, like on your kitchen fridge or next to your computer, as a reminder.
Track Your Spending
Tracking expenses doesn’t require fancy tools, just consistency and organization. Start by categorizing daily purchases and regularly reviewing them against your budget to spot trends. There are many ways to track spending, including gathering receipts, jotting expenses down in a notebook, or entering your purchases into an Excel sheet. Whatever method you choose, the key is staying aware of where your money goes so you can make smart financial decisions.
Match Your Spending with Saving
If you’re looking for a way to cut back on spending and ensure you’re putting money into savings, try to match your spending habits with saving habits! If you make nonessential purchases, such as a round of drinks, a new book, or expensive entertainment (like concerts or theme parks), transfer the same amount you spent on those things into your savings account. This way, you won’t fall behind on your savings or overspend, even if you occasionally treat yourself.
Automate Bills & Savings
Avoid missed payments and stay on track with your savings goals by setting up automatic payments. Enabling auto-pay ensures your monthly bills are paid on time, helping you dodge costly late fees that can derail your budget. And scheduling automatic transfers to your savings account makes it easier to build your nest egg, without having to think about it every month.
Reduce Interest by Tackling Debt
High-interest debt can eat away at your income, so paying it down quickly can be beneficial to your long-term savings. If you’re dealing with a mortgage or common loans (like auto or student), refinancing can help you reduce interest rates. Lower interest means more money stays in your pocket over time. For those paying off student loans, an income-driven repayment (IDR) plan is a smart way to chip away at debt while staying within budget.
Choose a Credit Card Wisely
To find the best credit card for saving money, consider rewards, interest rates, and fees carefully. Look for cards with low-interest rates, cashback or travel perks, and no annual fees. You should also understand how credit scores work and how using your card wisely can boost your score. Always try to pay off your balance in full each month to avoid interest charges, and keep your credit utilization ratio below 30% to maintain good credit health.
Try Different Money-Saving Apps
If you need a convenient way to kickstart your savings goals, try a mobile app! There are a lot of great finance apps out there that can help you hit your financial goals! You Need a Budget (YNAB) helps you get out of debt by displaying your true expenses and giving every transaction a spot in your budget. BillGO tracks all your bills and sends reminders to prevent late payments, allowing you to pay your bills through the app! And EveryDollar is great for tracking spending, as it lets you know how much money is spent and how much you have left in your accounts throughout the month. You can also use a free finance app like Mint or HomeBudget to monitor your spending and manage your budget.
Upgrade Your Bank Account
Not gaining much interest from your savings account? Start the new year by transferring the balance to a high-yield savings account! These accounts help you save money quickly for high-ticket items like a car or a down payment on a house. If you’re paying fees for your checking account, there are also several free checking accounts with no balance requirements, which can help you meet your financial goals. Or take advantage of Certificate of Deposit (CD) accounts, which allow you to deposit a set sum for a certain term of time and collect a specific interest rate to grow your savings. Because CDs offer an interest rate, you can grow your savings much faster than if you were to put that sum in a regular savings account.
Stick to Your Bank’s ATM
Whether you need to make a deposit, withdraw cash, or check your balance, always use ATMs owned and operated by your bank. In addition to non-network fees charged by your bank, third-party ATM operators can charge separate fees, making a quick visit expensive.
Look for Multi-Policy Insurance Discounts
If you have your renters insurance with one company and car insurance with another, consider combining everything under one umbrella. Most insurance companies offer a discount if you bundle your homeowners or renters insurance, auto, or life insurance policies under one account, which can help lower monthly expenses over the course of the life of your policy.
Buy Household Items in Bulk
Purchasing items like laundry detergent, canned and dry goods, or toilet paper in bulk can be an effective money-saving strategy, saving anywhere from 20% to 50%. This is seen when buying from wholesale stores like Sam’s Club and Costco instead of supermarkets. The per-unit price of bulk items is typically significantly lower than that of regular-sized items, making it easy and affordable to stock up on necessities. Be sure you have enough room, or design a flex space to store these items so they don’t clutter your kitchen, closets, or mudroom.
Prep & Cook Meals at Home
If you’re wondering how to save money on food, try meal planning and packing your own lunch. The average American household spends over $3,600 per year on dining out. If you always purchase the same sandwich, chips, and soda combo at lunch, buy those items at the grocery store and prep your meal at home. Use sites like Pinterest and Instagram to find quick and affordable recipes that can be made in bulk (like slow cooker meals), or sign up on meal-planning sites like $5 Meal Plan to create delicious, budget-friendly meals with plenty of leftovers.
Grow Your Own Food
Growing your own food can help you save big on your grocery bill. If you have a backyard, installing a good-sized plot is an incredible landscaping idea that can turn the average $70 garden investment into approximately $600 worth of fresh produce! Live in an apartment? Turn your patio into a DIY urban garden that grows herbs, vegetables, and other fresh produce.
Plan Your Shopping Trips
Shopping strategically is crucial for learning to save money and budget, and requires being intentional with every purchase. Start by mapping out buys and using the 30-day rule to delay impulse spending. Limit your online shopping budget, stock up on essentials when they’re on sale, and explore consignment or thrift stores for quality finds at lower prices. For bigger purchases, plan around annual sales like Black Friday. When it comes to weekly grocery shopping, make a list and stick to it, eat before you shop, and take advantage of store rewards programs. Don’t forget to look for freebies and birthday rewards, which add up in savings over time.
Take Advantage of Shopping Apps
Never buy (or be tempted to buy) full-price household goods, groceries, or clothing again! Apps like RetailMeNot and SnipSnap do all the deal-seeking work for you. With these savings apps, you can take advantage of coupons and deals by showing your phone at checkout. Many large grocery stores have their own free savings apps, each with unique coupons and deals. Coupon apps like Checkout 51 or Ibotta let you scan certain grocery store receipts and earn cash back.
Buy Generic Brand Items
Another simple way to save money when shopping is to buy generic brands instead of name brands. You likely won’t notice a difference in product quality, but you will see a price difference! Some generic products can cost 30% to 60% less than name brands, providing significant grocery savings. Generic brands are available for food items, bath products, household cleaners, over-the-counter medications, and more.
Use Price Comparison Tools
Spending a little extra time comparing prices can save you money in the long run. Price comparison tools like PriceBlink and Honey are browser plugins that alert you if an item, airline ticket, or hotel booking you’re about to buy can be found at a more affordable price elsewhere. Both apps also find sales and codes from across the web to apply coupons to every purchase, providing great deals on essentials!
Sell Items You Don’t Want or Use
If you’ve recently decluttered for the New Year, you may have a pile of items you want to get rid of. Go through that pile and see if there’s home decor, accessories, clothing, or other gently used items that are sellable. Local consignment stores, websites like Facebook Marketplace, Craigslist, or eBay, and apps like Poshmark, ThredUp, and Depop are all great resources for selling new or used items. Just make sure you deposit all of the money you make into savings!
Evaluate Subscriptions & Memberships
How many subscriptions, clubs, and memberships are you currently signed up for? It’s easy and common to forget about canceling a subscription. Ditching a few services or memberships you don’t need (or use) can help you save money monthly! Use an app like Rocket Money to find and manage recurring payments on any forgotten subscriptions. In addition, review everything from your cable, streaming, and/or food delivery services to determine if you’re getting the same value you’re putting in. For services you still need but are paying in excess, like cell phone plans, compare with other providers to see if better deals are available.
Create Your Own Home Gym
The average monthly cost of a gym membership is $65 per month, but they can be as expensive as $100 per month—and if you never use the gym, that’s money you’re throwing away. While it may be more expensive immediately, creating a home gym offers long-term affordability and convenience! Subscribe to free YouTube workout channels or rent workout videos and instructional books from your local library. You can also find at-home workouts for all abilities and levels from online magazines like Women’s Health, Self Magazine, or Men’s Health.
Use Energy-Saving Bulbs
Spending a lot each month and looking for the best way to reduce your electric bill? Replace regular light bulbs with energy-efficient LEDs (light-emitting diodes) or CFLs (compact fluorescent bulbs). LED light bulbs can last up to 25,000 hours or almost five years, and CFLs use significantly less energy, lasting up to 8,000 hours. Both options use less wattage and less electricity, which helps you save on utilities each month.
Unplug Appliances
Do you keep your coffee maker, toaster, TV, or computer plugged in at all times? Even if they’re not turned on, they’re still drawing energy and increasing your electric bill. Whenever you’re not using them, unplug nonessential appliances to keep costs low.
Install a Low-Flow Shower Head
Dispensing up to two gallons per minute, low-flow shower heads can save you money on your water bill! Installing a low-flow shower head is an eco-friendly bathroom idea that can save households around 2,700 gallons of water per year—a 40% reduction! You can find easy-to-install low-flow shower heads for $10 to $30 at local home stores.
Shop Around for Gas
Instead of stopping at the nearest gas station, utilize online tools and apps like GasBuddy to find cheap gas near you. Once you’ve spent a significant amount on fuel, some cash-back credit cards can give up to 5% back each time you fill up. Certain grocery store chains also offer rewards, such as discounts on fuel, so do your weekly shopping at these spots to take advantage!
Practice Proactive Car Maintenance
Preventive maintenance can help you save on future car repair costs. Changing your air filter is a money-saving hack that’s not only great for living sustainably, but can boost gas mileage by up to 10%, saving roughly 39 cents per gallon and 23 miles per tank. Air filters are easy to change in most vehicles and can be bought from most auto parts stores for less than $20. Keep your car running efficiently by changing your engine oil and filter, topping off fluids like coolant, brake fluid, and windshield washer fluid. Don’t forget to keep your tires properly inflated, and to regularly inspect your brake pads, too.
Take Advantage of Affordable Transportation
A great money-saving tip for the New Year is to go car-free and opt for local public transit such as buses, light rails, trolleys, or trains. This option can cut over $13,000 annually in vehicle expenses (including gas, parking, and maintenance) while lowering your carbon footprint. When having a car is essential, use local ride-hailing or car-sharing services.
Stay In Instead of Going Out
Going to a movie, grabbing dinner, or meeting up for drinks can quickly eat up the money you’ve set aside for flexible spending. Inviting friends over instead is a simple technique of saving money! Put together a group dinner or potluck where everyone brings a dish, have a cozy movie night in your living room, or organize a game night where everyone brings a snack or bottle of wine.
Enjoy Free Activities Near You
Looking for free or affordable activities with friends or family? Explore nearby trails, play basketball at the park, or pack a picnic and enjoy the outdoors. On rainy days, check out museums, galleries, or community centers that offer free admission. Many towns also host free year-round events, from seasonal festivals to outdoor concerts.
Get a Library Card
Having a library card from your local branch helps you spend less money on miscellaneous purchases, such as movies, books, or printing documents. Along with free books, most libraries offer ebook downloads, computer access, and free or discounted tickets to local events and attractions. You can even take writing classes, join a chess club, or participate in a book club. Just make sure to return your items on time to prevent any late fees!
Buy Used & Out-Of-Season Items
Whether you plan to decorate with outdoor holiday decor, set a Christmas table, or decorate your mantel, one of the best ways to save money is by buying in the off-season. Holiday items, such as Valentine’s Day candy, Halloween decorations, and Easter baskets, are often deeply discounted after their respective dates. Even everyday essentials, such as humidifiers and winter coats, can be found at steep markdowns when purchased out of season. If you’re looking for non-seasonal discounts, thrift shops often carry used furniture, clothing, and household items at a fraction of retail prices.
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Looking for more ideas to save money for the New Year? Renting self storage is a reliable, affordable way to help you declutter or store off-season belongings. Find a storage unit near you!
