31 Ways to Earn and Save Money

One of the most intimidating aspects of adulting is money. Whether it’s how much you earn, how much you owe or how much you spend, it can be overwhelming. This list will help you earn more and spend less, so that you’re managing your money instead of the other way around.

Five Ways to Make Money

Upgrade your credit cards for cash back or points options. Keep in mind this is only an option if you A) have a good enough credit score and B) pay your credit card balance monthly. But if you meet that criteria, you could be eligible for some serious cashback options or rewards points that will help you offset other costs.

Take an online course through your employer or library to upgrade your skills or get new ones. These are both free options that can help you negotiate a raise or increase your eligibility for a promotion. Another option that is free (to you) is if your employee provides tuition reimbursement.   

Open a new checking or savings account (including virtual-exclusive banks and high yield savings accounts). Honestly, the odds are pretty good that there’s a better checking or savings account out there than what you are currently using. Compare fees, interest rates and even cash incentives for switching. 

Invest in stocks that pay quarterly dividends. Now these funds have to be some you won’t miss or need in the near term, but purchasing shares in a company that pays quarterly dividends is a nice way to earn some money with little effort. 

Sell stuff you either don’t want any more or made yourself. Have some items in your closet that you don’t need? Or did you recently take up resin art as a hobby? From Facebook Marketplace to Etsy to local flea markets, you can generate some quick income. 

Twenty Six Ways to Save Money

Create or update your budget. Even just the mention of the word “budget” can cause heart palpitations. But really a budget is just knowing how much money you have coming and going out and taking steps (big or small) to improve both.

Use your gift cards. I know it can be time consuming to find them all and look up the balances but that’s free money that’s just collecting dust. 

Review credit cards and bank accounts for fraud. In a regular review of our credit card statement, we found someone had started charging for a streaming service using our information. It was easy to miss the $9.99 a month fee that was fraudulently being charged. The sooner you catch it and reach out to the bank, the less you will be scammed and the faster you can be reimbursed for the charges.  

Meal plan. Don’t be intimidated or overwhelmed by meal planning. If you’re a creature of habit (like me) decide every week what you will have for breakfast and lunch. After all, that’s at least half of the food you’re consuming every week!

Buy in bulk (where it makes sense). You will never see me buy a 4 pack of toilet paper or an individual chicken breasts (especially when it’s on sale). As long as you have the storage space, buying necessities and staples in bulk is a great way to manage your needs budget.

Invest in a programmable thermostat. We purchased this model a few years ago for our cottage and it’s been a lifesaver. When the temperature falls outside, we are able to turn the heat on from our phones to keep the pipes from freezing. We also have it in our home and it is set to drop the temperature at night when we’re sleeping and increase it again shortly before we roll out of bed in the mornings. It’s a great set-it-and-forget-it device.

Buy reusable products. From these bamboo towels to this 15 pack of reusable sandwich bags, these purchases save money and the environment. 

Wash your clothes in cold water or off peak times. It costs money to heat your water, so opting for cold water for your laundry can reduce your energy bills. Some cities also charge you a premium for using hot water during “peak times” so opting to wash your whites and/or linens after the cut off can add up as well.   

Sign up for a rewards program for gas. We have Fuel Rewards from Shell that saves us five cents off every gallon of gas. Not enough to retire early, but it adds up as often as often as we fill up.  

Check your credit score. An excellent credit score means better credit card options, ability to refinance debts or even finally invest in that home.  

List all of your debts and have a plan to pay them all off.

Call lenders to explore early pay off or refinancing options. Some lenders charge penalties for early pay offs – but if it’s less than the interest you’d pay if you didn’t pay it off early, it’s still a good deal. Also, did you know there are no fees for refinancing student loans? A few phone calls can mean saving hundreds or even thousands of dollars in interest.  

Ensure you contribute at least the match amount to your employer-offered retirement plan. Find out how much your employer matches (it’s a percentage of your annual salary) and contribute the same amount (or more).  

Sign up for paperless billing and autopay. We recently switched from T-Mobile to Verizon and both offer $10 off every month if you sign up for paperless billing and autopay. I find autopay especially useful in avoiding late fees and paying bills that are the same every month, such as streaming services.  

Share services/accounts. Speaking of streaming services, did you know you can stream YouTube TV on three devices at any time? Hulu offers the same for two devices. We currently share our YouTube TV and Netflix accounts, saving us over $41 a month. You can also add an authorized user to your Amazon Prime account. We share ours with my mother-in-law but never see her orders, notifications, etc. 

Cut services you don’t need. Maybe it’s a monthly box or content subscription that hasn’t really been valuable to you. Or maybe you can just go down a tier in your Hulu account. A few dollars a month, especially across multiple services, can really add up. 

Research utility rates. For example, we are able to choose both our electric and natural gas suppliers. You’ll need your most recent bill to compare rates and sign up for a new supplier, but it can save you hundreds of dollars versus being at market rate.  

Call current service providers (such as internet or trash) to see if your eligible for better services at the same rates or better pricing at the current rate. Sometimes the answer is no, but you’d be surprised how often it’s yes.

Get creative.  Instead of buying a new couch, buy a slip cover to help it last a few more years. Instead of investing in those beautiful but pricey storage bins, cover office paper boxes in contact paper. Instead of dropping a whole paycheck on a new dresser from your favorite retailer, buy one used and give it a new paint job. 

Share with your neighbor. We own a lawn mower and our next door neighbor owns a snow blower (we live in the Midwest). We share both, which not only saves us money but highly coveted garage space as well. 

Log in to your health insurance provider’s website to understand co-pays and how can you use HSA/HRA/FSA funds. Did you know you can add your HSA/FSA card to your Amazon account and view a list of eligible items? From air purifiers to contact lens solution to lip care, you are probably purchasing these things with your hard earned money when you could be taking advantage of your HSA funds instead. 

Review your cell phone options. The catch with this one is you usually have to own your phone outright, but if you do, there’s usually a better deal out there. Make sure to take all costs into consideration, including things like discounts you receive, activation fees and if the “perks” that are offered are temporary or come with a catch. PS this is another great opportunity to split costs with family or friends.  

Contact an independent insurance agent to review your car, homeowners/renters and life insurance costs. The key is to find an independent agent who does the research for you and provides the best two to three options – all at no cost to you! They are paid by their employer and the insurance companies.

Learn how to file your taxes on your own. If you held just one or two jobs and especially if you are single, tools like TurboTax and H&R Block Free make it quick and painless to file your taxes on your own for little to no cost. 

Once you’ve filed your taxes for 2020, use your return to update your W4. Your 2020 return will provide you with the data to withhold the right amount for the next year instead of withholding too much or too little. 

Negotiate payments. You’d be surprised at the deep discounts you can get for paying cash or paying for a few months at a time (think: rent). We saved 5% on childcare for paying monthly instead of weekly.  

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