10 Practical Things to Buy to Save Money (2024)

Are you looking for more ways to save money? Check out this list of things to buy to save money in the long run!

One of the things I’ve learned about frugality is that it isn’t always about spending less and saving every penny you make. For me, it’s more about eliminating expenses that are not aligned with your priorities and spending more on things that truly have value.

In order to master the concept of frugality, I think it is important to know how and where to spend your money. Begin by spending on things that will add value to your life and help increase your savings over time.

So, you’ve decided to embrace the frugal life but don’t have any idea where to start? Here’s my short list of things to buy to save you money in the long run.

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Table of Contents

10 Practical Things to Buy to Save Money (1)

What to Buy to Save Money in the Long Run?

Instant Pot

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Many of us love to eat out and it’s easy to see why. Sitting down for a fancy dinner at a restaurant sounds more convenient and relaxing than spending time in the kitchen. However, while enjoying a great meal at your favorite restaurant once in a while is fine, eating out more often can create a huge dent in your budget which obviously is not good for your financial health.

If you are serious about saving a huge chunk of money on food but don’t have lots of time to spend in the kitchen, an Instant Pot should be at the top of your list.

This is hands-down my favorite investment for the kitchen as it serves multiple purpose and saves me a lot of time and energy. It is a pressure cooker, rice cooker, slow cooker, yogurt maker, and warmer in one; and it prepares dishes up to 70% faster to support your busy lifestyle

I really love my Instant Pot and honestly, I regret not purchasing one sooner. It does not only allow me to cook a wide range of great meals easily, but it also allows me to cook on a budget.

Using the Pressure Cooker feature, you can turn tough, less expensive cuts of meat and other cheaper ingredients to make hearty and flavorful meals in just minutes. Simply toss all the ingredients in the Instant Pot, switch it on, and enjoy a sumptuous meal in minutes.

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Coffee Maker

Are you a coffee lover? If you can’t function without coffee every day, invest in a good coffee maker and coffee thermos travel mug such as this one. This cute thermos travel mug enables you to enjoy your hot or cold beverages all day long wherever you are.

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With these two little investments, you can skip those expensive trips to the coffee shop and put more bucks into your savings account.

Amazon Prime Membership

If you haven’t already purchased anAmazon Prime membership, now would be the perfect time to finally sign up if you prefer shopping for food online. Prime members could receive cheaper groceries and 5% cash back every time they shop at the Whole Foods market. Plus, shipping is free with Amazon Prime!

In addition, you’ll enjoy free movies and TV shows with your Amazon Prime membership. Try Amazon Prime 30-Day Free Trial to see if this service works for you. You can cancel anytime with no questions asked so it’s absolutely risk-free.

Try Amazon Prime

Energy Efficient Light Bulbs

Energy is expensive so we invested in theseenergy-efficient light bulbs or LED lights. I think it’s one of the best money-saving inventions that should be on your list of things to buy to save money.

In certain areas of the house such as the kitchen, bedroom, front entrance, and patio, we installed these LED lights that can be programmed to turn on and off at a certain time and that we can switch on and off from our phones.

That way, if we left lights on when nobody is home, we can switch them off no matter where we are, through our phones. When we are away from the house and can’t come home until it gets dark, we can remotely turn on the lights for our dogs.

The bulbs are more expensive though than the conventional lights but they help us save energy and money in the long run (most especially if you constantly forget to turn off lights like me!)

Meal Prep Containers

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Leftovers are treated as gold in every frugal family’s house so we make sure that we store food properly using airtight containers to avoid wasting food. These containers are not only great for leftovers but are also perfect for meal prepping and keeping food such as salads or vegetables fresh for days.

I also use Ziplock freezer bags for freezer meals. I cook big batches of food and store them in the freezer to save time and money.

Advanced Power Strips

10 Practical Things to Buy to Save Money (5)

High summer electric bills can ruin a good budget plan. If your energy bills are taking a big bite out of your monthly budget, then it may be time to be more energy-conscious. Reduce your energy consumption by investing in a few advanced power strips. Electronic devices, even when turned off, are using electricity. Power strips do their job by preventing excess energy from being drained.

Important: There are many types of Advanced Power Strips to fit different people’s needs. For example, if you often fall asleep when watching TV at night, an activity monitor APS can turn everything off for you. Research about the best product that suits your needs.

Water Leak Sensors*

Water leaks may sound like a minor inconvenience, but they can cause major damage to your home and possessions and lead to big-dollar repairs if not fixed right away. Therefore, water leak sensors are a wise investment. These innovative smart home devices detect water leaks so you can prevent them before they rob you of your savings.

* This is one of the frugal home items that we are still looking to buy.

Grass Trimmer

If you have a big yard and want to trim the grass yourself, a trimmer or mower is a great investment that could save you hundreds per year.

We used to trim our yard ourselves for many years, helping us save thousands. Unfortunately, now with a baby and tight schedules, we have to call for help and now realized how much we were saving in the past few years! The gardener charges us $50 per month and that’s an extra expense of $600 per year!

Water Filter

We invested in a good water filtering system so we no longer have to buy bottled water. It’s a hefty investment at first but it sure will help us save more money in the long run. By totally avoiding buying bottled water, you are also helping the environment!

Clothes Line or Drying Rack

Air drying clothes could help you save more than $100 a year over a dryer. However, if you don’t have enough space for a clothesline or it’s not allowed in your neighborhood, you can use a clothes rack instead and save the same amount.

This foldable clothes rack is a great option if you have small space.

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Want more money saving tips? Check out these popular articles!

I WOULD LOVE TO HEAR FROM YOU!

What are the most practical home essentials you’ve spent your money on? What kind of household products provide more value to your life?

10 Practical Things to Buy to Save Money (2024)

FAQs

What is the best thing to save money for? ›

  • Emergency fund. Nearly a quarter of savers who take the America Saves pledge chose “emergency savings” as their first wealth-building goal.
  • Large Purchase. ...
  • Car. ...
  • Vacation. ...
  • Retirement. ...
  • Debt Repayment. ...
  • Education. ...
  • Homeownership.

How can I save enough money? ›

28 ways to save money
  1. Automate transfers.
  2. Count your coins and bills.
  3. Prep for grocery shopping.
  4. Minimize restaurant spending.
  5. Get discounts on entertainment.
  6. Map out major purchases.
  7. Restrict online shopping.
  8. Delay purchases with the 30-day rule.
Mar 26, 2024

How can I save money 100 ways? ›

100 Ways to Save Money
  1. Move bank accounts to take advantage of perks and earn more interest. ...
  2. Turn off the television. ...
  3. Stop collecting, and start selling. ...
  4. Sign up for every free customer rewards program you can. ...
  5. Make your own gifts instead of buying stuff from the store. ...
  6. Master the 30-day rule.

What things can you save? ›

14 things to save up for
  • Emergency fund. An emergency fund can cover unexpected expenses, including medical, car, house, or other expenses. ...
  • Homeownership and homemaking. ...
  • Vacations. ...
  • Car. ...
  • Hobbies and recreation. ...
  • Gadgets and electronics. ...
  • Phone and computer applications. ...
  • 8. Entertainment.
Aug 3, 2023

What are the 5 steps to save money? ›

5 simple steps to start saving
  • Set one specific goal. Rather than socking away money into a savings account, set specific goals for your savings. ...
  • Budget for savings. Just because you decide to save doesn't mean it's going to happen. ...
  • Make saving automatic. ...
  • Keep separate accounts. ...
  • Monitor & watch it grow.

What is the fastest way to save money? ›

Canceling unnecessary subscriptions and automating your savings are a couple of simple ways to save money quickly. Switching banks, opening a short-term CD, and signing up for rewards programs can also help you save money. Making a budget and eliminating a spending habit each day can help lead to long-term savings.

How can I save money if I barely make anything? ›

11 Foolproof Ways to Save Money On a Low Income
  1. Create a Budget. ...
  2. Open a Savings Account or Savings Pod. ...
  3. Drop Unneeded Monthly Memberships. ...
  4. Take a Hard Look at Your 'Unavoidable' Expenses. ...
  5. Save Money on Food. ...
  6. Save Money on Utilities. ...
  7. Commit to Buying Nothing New. ...
  8. Change Where You Keep Your Money.
Jan 4, 2023

How can I save $1000 fast? ›

Financial expert Dave Ramsey has a lot of ideas on the subject, and here are some of the most practical ways to save your first $1,000 quickly.
  1. Cancel Subscriptions. ...
  2. Bring Your Own Lunch. ...
  3. Avoid Coffee Out. ...
  4. Re-Sell Old Items. ...
  5. Shop at Cheaper Grocery Stores With Rewards Programs. ...
  6. Buy Generic. ...
  7. Join a Carpool.
Dec 28, 2023

How do I save money daily? ›

12 ways to save money every day
  1. Join loyalty programs to reap rewards.
  2. Shop with a cash-back credit card.
  3. Cancel subscriptions you aren't using.
  4. DIY when you can.
  5. Set up automatic bill payments.
  6. Switch bank accounts.
  7. Look for extra cash in your budget.
  8. Carefully scrutinize your spending.
Mar 31, 2023

What is the secret to saving money? ›

Set savings goals

One of the best ways to save money is to set a goal. Start by thinking about what you might want to save for—both in the short term (one to three years) and the long term (four or more years). Then estimate how much money you'll need and how long it might take you to save it.

How to dramatically save money? ›

8 ways to save money quickly
  1. Change bank accounts. ...
  2. Be strategic with your eating habits. ...
  3. Change up your insurance. ...
  4. Ask for a raise—or start job hunting. ...
  5. Consider a side hustle. ...
  6. Take advantage of a credit card that offers rewards. ...
  7. Switch up your transportation habits. ...
  8. Cancel subscriptions you don't really need or use.

What is a good to save? ›

At least 20% of your income should go towards savings. Meanwhile, another 50% (maximum) should go toward necessities, while 30% goes toward discretionary items. This is called the 50/30/20 rule of thumb, and it provides a quick and easy way for you to budget your money.

How to save $10,000 fast? ›

6 steps to save $10,000 in a year
  1. Evaluate income and expenses. To make room for saving, you'll need a meticulous budget that outlines all your sources of income and all your expenditures. ...
  2. Make an actionable savings plan. ...
  3. Cut unnecessary expenses. ...
  4. Increase your income. ...
  5. Avoid new debt. ...
  6. Invest wisely.
Apr 2, 2024

How to quickly save $1,000 dollars? ›

Financial expert Dave Ramsey has a lot of ideas on the subject, and here are some of the most practical ways to save your first $1,000 quickly.
  1. Cancel Subscriptions. ...
  2. Bring Your Own Lunch. ...
  3. Avoid Coffee Out. ...
  4. Re-Sell Old Items. ...
  5. Shop at Cheaper Grocery Stores With Rewards Programs. ...
  6. Buy Generic. ...
  7. Join a Carpool.
Dec 28, 2023

What is the 30 day rule? ›

The premise of the 30-day savings rule is straightforward: When faced with the temptation of an impulse purchase, wait 30 days before committing to the buy. During this time, take the opportunity to evaluate the necessity and impact of the purchase on your overall financial goals.

What amount of money is best to save? ›

This budgeting rule states that you should allocate 50 percent of your monthly income for essentials (such as housing, groceries and gas), 30 percent for wants and 20 percent for savings.

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