Sick of making sacrifices? Stop pinching pennies and start making your dollars work harder.
To get the most out of every buck you earn, use these 20 clever money hacks. These easy-to-implement adjustments are designed to boost your income, reduce your costs, and minimize your taxes.
And no, we’re not talking about drastic changes. These simple tactics can improve your financial health without overhauling your lifestyle.
From harnessing the power of cashback apps to swapping CDs for Treasuries, each tip is a step toward a more prosperous future.
20 Powerful Money Hacks To Fast-Track Your Savings
Ready for a richer life? These 20 money hacks cut straight to the chase — giving you maximum gain with minimal effort.
1) Put Your Pennies To Work
Rounding up your purchases to the nearest dollar is a hassle-free way to force savings into your budget.
Let’s say you buy a latte for $5.75. With this money hack, your bank will automatically round the purchase up to $6.00 and then transfer the $0.25 difference to your savings account. Genius!
Two online banking apps make it easy to implement this strategy: Chime and Acorn.
Chime’s Save When You Spend program automatically rounds up debit card purchases to the nearest dollar, putting the difference in a high-yield savings account. Acorn’s “Round-Ups,” on the other hand, invests that spare change into a portfolio of low-cost ETFs.
Both programs automate your savings and help you generate a return on your money. This way, with every swipe of your debit card, you will be making a mini-investment toward your future.
2) Leverage Cashback Apps
When you install a cashback app on your phone, you earn a fixed percentage back on all of your everyday purchases. It’s like having a team of accountants going over every receipt, making sure you get the best deals.
One of the most popular apps, Rakuten, earns a commission from stores when you purchase through their platform. But instead of keeping this money, they share it with you.
To take advantage of this opportunity, just find your desired store on their website (or app) and shop like you normally would. You will earn cash back on every eligible purchase and get paid quarterly, via a check or PayPal deposit.
Ibotta, on the other hand, makes couponing a thing of the past. Here’s how it works:
- Download the app and complete the registration
- Click the Link Retailer button to connect to your favorite shops
- Add offers to Your List before shopping to claim the most up-to-date discounts
- Go shopping!
If you shop online through the app, all of your purchases will sync to Ibotta. If you shop in-store, just scan your Loyalty Card or provide your phone number at checkout
Then, Ibotta will automatically check discounts and apply the best ones available to your purchases. Shortly after, you get an email highlighting how much cashback you earned and when you can expect to receive it!
Pro Tip: Don’t fall prey to special offers that tempt you to spend more. Remember, these money hacks are designed to increase our savings, not our expenses.
3) Make TV Time Profitable
Companies want to know what you think, and they will pay you for your opinions. Completing simple online surveys or watching short videos on commercial breaks can put real cash in your wallet.
One popular app is Swagbucks, which rewards you with points for watching videos, taking surveys, and even playing games. Once you accumulate enough points, you can redeem them for gift cards or cash.
So, the next time you are binge-watching Suits, take a few minutes between episodes to knock out a quick survey or two. That way, even your downtime can be profitable.
Pro Tip: Save all the cash and gift cards you earn until the end of the month. Then, use them to offset next month’s expenses and transfer your savings directly into your investment account.
4) Choose Treasuries Over CDs
This easy hack could save you hundreds or even thousands of dollars per year.
If you live in the following states, don’t park your money in CDs or high-yield savings accounts:
- California
- Hawaii
- Oregon
- New Jersey
- Minnesota
- New York
- Vermont
Instead, invest in U.S. Treasuries!
Treasuries are just as safe as CDs, but they are free from state and local taxes. For residents of high-income tax states (like the above), this simple swap could offer significant savings on your next tax bill.
5) Snag Sign-Up Bonuses
Before you open a new account, check to see if the company offers a sign-up bonus. From banks to stockbrokers and even reward sites, companies will often pay cash to earn your business.
If you planned on signing up anyway, great! Enjoy the extra cash. If not, consider signing up, collecting the bonus, and then closing the account.
But before you do so, be sure to read the fine print. Sometimes there are minimum balances or time requirements to earn the bonus.
Here are a few sign-up bonuses (free money hacks) you can claim today:
- Swagbucks: Get a $10 bonus when you sign up
- Chase Total Checking: $200 to open a new checking account and set up direct deposit
- Coinbase: Get $10 in free Bitcoin when you sign up
- Rakuten: $10 welcome bonus when you sign up
- MyPoints: Earn $10 for your first purchase
- InboxDollars: Get a $5 bonus when you sign up
6) Monetize Your Social Media
You don’t have to be Kim Kardashian or Charli D’Amelio to monetize your social media accounts. Even profiles with a modest following can generate income.
In fact, many brands are turning their attention to micro or nano influencers due to their niche targeting and higher engagement rates.
Although there isn’t a standard rate, some micro-influencers report charging companies $100+ per 10,000 followers per post to promote their products.
Becoming a micro-influencer starts with carving out a niche and developing a content style. As you pump out on-brand content, your followers will come to recognize your voice and see you as a trusted advisor.
Then, when you are ready, initiate collaborations by reaching out to brands that resonate with your values and content style.
But here’s the key — craft your pitch to highlight your engagement rate. After all, companies will pay a premium for influencers who can demonstrate actual influence (and not just reach).
An even faster way to generate income is through affiliate deals.
To get started, sign up for an affiliate network like Amazon Associates or Commission Junction. Next, find products that fit your niche and that you can organically promote without eroding trust with your audience.
Every time a friend or family member listens to your recommendation and buys through your link — you will earn a cut from 5% to as high as 50%.
Pro Tip: Credibility plays a key role in building an audience and earning trust. So be selective with partners! Always find the right fit to make sure each promotion is authentic.
7) House Hack
House hacking isn’t just for real estate moguls — it’s a savvy move anyone can consider.
One approach is buying a multi-family property, like a duplex. While you live in one unit, rent out the other. The rental income you collect should significantly offset, if not cover, the mortgage payment and maintenance costs for the entire property.
If a move isn’t in your future, don’t worry.
You can also start house hacking by renting out a spare room in your own home. Platforms like Airbnb make turning extra space into cash easier than ever.
If having guests in your home isn’t for you, consider even shorter-term options. You could rent out your backyard for events or let your neighbors lease part of your garage as storage.
Before you know it, you could be living rent-free (or almost rent-free) thanks to the untapped potential of your own home.
8) Get Rid Of Bad Debt Fast
One of the best money moves you can make is to eliminate your bad debt. The problem is that many Americans don’t know the difference between good and bad debt.
Good debt, like a mortgage, typically has a lower interest and is used to buy an appreciating asset. Bad debt, on the other hand, carries higher interest rates and is used to buy depreciating assets, like that new flat-screen TV.
Your best bet is to avoid accumulating bad debt in the first place. But if you already find yourself struggling with a mountain of debt, there’s a solution!
These three money hacks can get you back on track fast:
- Avalanche Method: Focus on your highest interest rate debt first, rather than splitting extra payments between all your debt. Once that expensive debt is paid, tackle the debt with the next highest rate. This way, you minimize your interest payments over time.
- Snowball Method: This strategy targets the debt with the lowest balance first, then moves on to the next smallest. As you eliminate each debt, your momentum builds, making it psychologically easier to keep going.
- 0% APR Credit Cards: Use offers like this to your advantage by transferring your high-interest rate balances to a zero-interest rate credit card. Not only will 100% of your payment go to reducing principal, but you may even get a sign-up bonus, too!
Pro Tip: Don’t fall into the trap of paying off bad debt just to replace it with more debt. Once a credit card is paid off, cut it up and close the account to eliminate any further temptation.
9) Invest In Low-Cost ETFs
Are mutual fund fees silently eating away at your earnings?
One of the simplest yet most powerful money hacks is switching to low-cost ETFs, like those offered by Vanguard. In doing so, you could save between 0.5% to 1% per year in management fees without sacrificing market exposure.
If half a percent doesn’t sound like much, you might be surprised by the effects of compounding.
Here’s an example: Let’s say you have a $100,000 portfolio and you never invest another buck. After 30 years, the difference between a 10% return and a 9.5% return ends up costing you a staggering $220,000!
That’s right, a pesky 0.5% fee will amount to hundreds of thousands of dollars.
So do yourself a valuable favor and put that money back in your own pocket by investing in low-cost ETFs. (Sorry, fund managers.)
10) Build A Rock Solid Budget (In Reverse)
The benefits of a budget can’t be overstated. Not only does it provide a foundation for managing your finances, but it allows you to set and hit money goals with ease.
But here’s the hack.
When creating your next budget — start with your financial goals first and work backward from there. Yep, you heard right. Enter your saving and investment targets at the top, before you dive into your monthly expenses.
This reverse-engineering approach shifts your priority from making ends meet to planning for long-term financial security.
And trust me, the benefits are real. This method leads to better decision-making as you focus on long-term wealth creation over immediate gratification.
11) Curb Overspending With Cash Envelopes
Ever feel like money slips right through your fingers?
Cash envelopes might be the solution. By cashing your paycheck and splitting it among different envelopes, you create a physical barrier to overspending. Just be sure to earmark the envelopes for each expense category, like groceries, gas, or entertainment.
The magic of cash envelopes lies in their simplicity.
They force you to confront your spending habits head-on. If you are consistently going over budget, this approach will stop you dead in your tracks.
12) Drop Unused Subscriptions
Unused recurring subscriptions are a common source of disappearing dollars. In fact, according to a recent Forbes survey, nearly 50% of Americans pay for streaming services that they never use.
With apps like Rocket Money and Trim, you can easily identify and eliminate these hidden money drains.
Just download one of the apps on your phone, and let it scan your finances to surface all of your recurring charges. You can even cancel them directly through the app and save yourself the hassle of canceling each one independently.
13) Plan For The Unexpected (And Prepare for the Expected)
An emergency fund is a financial safety net for life’s curveballs, like unexpected car repairs or medical bills. This keeps you from accumulating high-interest debt by ensuring that surprise bills don’t end up on your credit card.
For that reason, experts recommend setting aside 3-to-6 months’ of living expenses in a liquid account, like a high-yield savings account.
Unlike your emergency fund, sinking funds are designated savings pots for specific future expenses. For instance, you might be stashing away funds for a down payment, earmarking money for a dream getaway, or saving for the ultimate wedding celebration.
When you combine an emergency fund with sinking funds, you create a financial safety net that’s both broad and focused. It’s like having both an insurance policy and a wish-list fund, taking the stress out of anticipated and surprise expenses.
14) Don’t Forget Your Shopping List
Let’s talk about one of the most overlooked money hacks: the humble shopping list.
Why is a shopping list so helpful?
Americans drop an eye-popping $300 per month on impulse buys. And a shopping list can be your shield against these budget-wrecking, spur-of-the-moment splurges.
Having a list (and sticking to it) is like having a personal shopping GPS.
Instead of wandering the aisles aimlessly, it directs you to exactly what you need. That way, you can steer clear of budget traps, like that tempting aisle of fancy snacks or the latest kitchen gadget you will never use.
Pro Tip: If you are an online shopper, let items sit in your cart for a couple of days before pulling the trigger. It’s the digital version of “Sleeping on It.” Often, the urge will pass and you can happily click “remove” instead of “check out,” keeping your budget intact.
15) Do A Monthly Freezer Cleanse
Not sure if that ice-encrusted meat is chicken or fish? Then it’s time for a cleanse.
Once per month, make it a point to use up everything in your freezer. Get creative and whip up some new recipes with whatever you’ve got — it’s a win-win for your wallet and your culinary skills.
Pro Tip: Consider splitting Costco runs with neighbors and friends. This strategy allows you to benefit from the discount without all the freezer clutter.
16) Turn Your Hobby Into Income
If you spend hours immersed in a hobby, why not make it pay its own way? From crafting artisanal candles to mastering drone photography, your leisure time could become your next income stream.
Take gaming, for example. Platforms like Twitch allow you to livestream your games and build a following. Then, watch as subscriber donations and brand sponsorships turn your hobby into a paycheck.
Or, maybe you are into something even more niche, like using AI to create custom images. Platforms like Fiverr make it easy to turn fun pet portraits into paying customers, even if you are a complete beginner.
17) Do A Subscription Freeze
Tightening your budget doesn’t have to mean giving up everything you love for good. Instead, you can periodically freeze subscriptions (or rotate providers).
By putting a temporary pause on streaming services, magazines, or gym memberships, you can evaluate their real value in your life. You just might find it easy to live without them.
And even if you can’t, you may not need them all at once. Consider swapping between Netflix, Hulu, and HBO every few months, rather than paying for all three.
Pro Tip: Want to get your service at a better price? Go through the cancellation process online or ask your customer service rep for the retention department. Companies hate to lose a loyal customer, so they might just offer you a discount to stick around.
18) Declutter For Cash
Getting rid of those unused items doesn’t just clear your space — it can also fatten your wallet.
That tennis racket gathering dust in your closet, the old video game console in the attic, or the vintage sunglasses in your drawer could all fetch a decent sum on eBay or Facebook Marketplace.
To maximize your profits, clean up the item, take high-quality photography from multiple angles, and create a detailed listing. This extra upfront effort will make buyers feel more confident, creating a faster process and a higher sales price.
Pro Tip: Organize a neighborhood swap meet to trade unused items. After all, one man’s trash is another man’s treasure. And who knows — you just might snag something valuable in the process.
19) Implement A Mini-Budget
During financial setbacks, don’t ditch your regular budget altogether. Instead, switch to a mini-budget to weather the storm.
Here’s how it works:
- Let’s say you suddenly lose your job. Don’t keep spending as usual, and don’t accept defeat.
- Switch to a mini-budget and keep a laser focus on only the must-pay bills. Skip dining out, vacation planning, and buying any new clothes.
- Once you find a new job and you are back on your feet, resume your regular budget and start rebuilding.
As you can see, this stripped-down mini-budget focuses only on the essentials — rent, utilities, and groceries. It cuts out all discretionary spending to free up cash for immediate needs.
This approach allows you to stay on track and avoid piling up credit card debt, no matter what life throws your way.
20) Give Yourself A Monthly Allowance
Remember the good ol’ days of allowances? Who says they’re just for kids?
Go ahead and give yourself a monthly “fun money” allowance for guilt-free spending on whatever tickles your fancy. Want a late-afternoon frappe? Go for it. Been eyeing that new book? No worries.
Withdraw your allowance in cash at the start of the month, and when it’s gone, it’s gone.
This strategy allows you to indulge responsibly without getting derailed from your long-term financial goals.
Final Thoughts
Getting ahead financially doesn’t have to mean endless sacrifice. With the right money hacks, you can find extra wiggle room in your budget and continue enjoying your lifestyle.
So go ahead and pick your favorite money hacks and make them part of your financial DNA. Just one or two can make all the difference between scraping by and designing your financial future.
After all, you work hard enough. Isn’t it about time that your money did the same?
