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11 Ways to Save Money This Month

I decided at the beginning of May, that I wanted to look for ways to save money each day this month. Finding ways to save money is a fun game when you set your mind on it!

We often say to ourselves that we want to save money, but implementing is often the hard part. Turn it into a daily challenge and you’ll find it’s easier to tackle.

A third of the way through the month, and here’s a different savings idea from each day in May. We’ll see if I can keep it going all month!

Money Saving Ideas

  1. Switch Insurance Companies. We moved most of our insurance policies to Allstate [1] to take advantage of cheaper rates.
  2. Use Redbox. We tried out Redbox [2] for the first time, saving money over Blockbuster [3] rentals.
  3. Cancel Services. I was using Credit Check Total [4] for daily credit scores, but no longer need them, so we canceled the service saving the monthly fee.
  4. Reduce Christmas Budget. I put money in an ING account [5] each month to save up for holiday gifts. Since we let go of our nanny [6], it’s one less gift we’ll have to buy and it frees up some extra money in our monthly budget.
  5. Free Magazines. One of my magazine subscriptions expired recently, so I’m shopping the list of free magazines [7] to find a replacement.
  6. Appeal Property Taxes. After we bought our first rental property [8] below the assessed value, our partner filed an appeal with the assessor. Hopefully, we’ll see a lower assessment and a lower tax bill.
  7. Lower Estimated Tax Payments. After the implementation of the Make Working Pay Tax Credit [9] I lowered our projected estimated tax payments [10] to save some money.
  8. Cheap Photos. I took my son to Portrait Innovations to take advantage of the $9.95 portrait special. It’s a much cheaper way to have kids and family pictures taken!
  9. State Tax Refund. Even though I Filed an Extension to Lower or Hedge our Tax Bill [11], I am getting a $28 state tax refund, so I want to file that one sooner to get my money. I’ll use a preliminary federal copy and amend if necessary.
  10. Bonus Funds for College. I signed up for a few more Ohio 529 plans to take advantage of the College Advantage $25 Sign Up Bonus [12].
  11. Lower Expense Ratios. I’m in the process of moving a portion of my Roth IRA [13] from Vanguard to Schwab after Schwab announced lower expense ratios [14].

What are you doing to save money this month?