16 Proven Ways to Save Money in the U.S.: Practical Tips for Any Situation

Every day, thousands of Americans find themselves in difficult financial situations. That's the nature of the market economy—one can suddenly lose their job, a business can fail, and bills can become an unbearable burden. If you find yourself in this situation, the most important thing is not to fall into despair. Crises happen to everyone; the key is to ensure that it's a crisis you can control. Let’s calmly look at what we can do in this situation and start solving the problems one by one. Believe me, there are almost no hopeless situations, and those who keep pushing forward eventually reach their goals. This article will also be helpful to those who aren't on the brink of financial ruin but simply want to save and set money aside for the future, even with a modest income. So, let's get started.

Disclaimer: This content is not intended as financial advice. All investment decisions involve risk, and you should seek professional advice tailored to your circumstances.

1. Take Advantage of Bank Bonuses

Many banks in the U.S. offer bonuses for opening new accounts or credit cards. You can earn anywhere from $200 to $500 just by opening an account and meeting the minimum requirements. For example, refer your friends and family to open a card at the same bank.

Example: Sign up for a Chase Sapphire card or open a checking account with Wells Fargo.

2. Optimize Tax Benefits (Tax Credits and Deductions)

Take advantage of all available tax credits, such as the Earned Income Tax Credit (EITC) or Child Tax Credit. Also, if you work from home, consider tax deductions for a home office. A good accountant can help optimize your expenses, but if you can't afford one, online services are a great option. Don’t forget to search for information online and ask questions to artificial intelligence, like ChatGPT.

Tip: Consult with tax advisors or use services like TurboTax.

3. Use Cashback and Discount Programs

Programs like Rakuten, Honey, and Ibotta help save money on everyday purchases. Also, use credit cards with high cashback rates.

Example: American Express Blue Cash offers up to 6% cashback on groceries.

4. Save Even More on Purchases

Keep an eye on sales in your area. Delay expensive purchases until annual sales like Black Friday, Cyber Monday, or Christmas sales.

Explore online trading platforms like Facebook Marketplace. Don’t be afraid to negotiate. Many sellers are willing to lower the price, especially if they feel they are doing a good deed by helping someone who’s in a tough financial spot.

Example: My friends wanted to buy a used trampoline for their daughter's birthday. When they arrived to pick it up and mentioned, in passing, that it was a birthday gift and that they were new to the city, the seller gave them the trampoline for free, as $70 wasn't a big deal to him, but the feeling of doing a good deed and making a child happy was worth much more to him.

5. Reduce Medical Expenses with HSA/FSA

Open a Health Savings Account (HSA) or Flexible Spending Account (FSA) to save money on medical expenses before taxes. There are also charitable funds that can help you pay medical bills. Additionally, there are medical centers that provide low-cost services to low-income individuals, or where students and young professionals practice.

Tip: This is especially useful if you have regular medical expenses, such as for asthma or allergies.

6. Switch to a "Fixed Expenses Strategy"

Determine the minimum amount needed for monthly expenses (rent, transportation, food) and stick to it strictly. Any extra money should be directed towards savings or investments.

Example: Use the YNAB (You Need A Budget) app for budget planning.

7. Avoid the "Subscription Trap"

Check which subscriptions you’re using and cancel the unnecessary ones. Many Americans lose up to $200 a year on subscriptions they don’t use. Review your bills and decide if you really need high-speed internet at 500mb or if a slower connection would suffice. Do you need unlimited mobile service or can you switch to a cheaper plan?

Tip: Use services like Truebill or Rocket Money to manage subscriptions.

8. Live in Areas with Low Taxes

If you can work remotely, consider moving to a state with low taxes, such as Florida, Texas, or Nevada. This could save you thousands of dollars a year.

Example: Texas has no income tax, and the cost of living is below the national average.

9. Use Energy Discount Programs

Many utility companies in the U.S. offer discounts for reducing energy consumption or switching to energy-efficient devices. Additionally, check with your utility company to see if you qualify for energy bill assistance programs. Lower the temperature in your home by a few degrees in winter. This is even beneficial for your health; the best sleep temperature is around 63-64°F.

Example: Install a Nest smart thermostat and receive up to $200 off from your utility company.

10. Invest Through Low-Cost Platforms

Use platforms like Robinhood, M1 Finance, or Vanguard for investing in stocks and ETFs. Even small investments can yield returns over the long term.

Example: Start with index funds like the S&P 500.

11. Make Money from Your Skills in Your Spare Time

Freelance platforms such as Upwork, Fiverr, or TaskRabbit are popular in the U.S. If you're good at cooking, repairing things, or writing, you can earn a few hundred dollars a month on the side.

Example: Register for Uber, DoorDash, or Walmart’s Spark Driver program to work at your convenience.

12. Shop at Different Supermarkets for Different Items

There’s no one-size-fits-all "cheapest" store. From personal experience, it’s more cost-effective to shop at multiple places, choosing the best deals. For example, Walmart often has discounts on household items, WinCo has the lowest prices on grains and vegetables, Costco is great for bulk purchases, and Safeway offers excellent deals on meat and dairy products.

Tip: Keep an eye on sales and use apps like Flipp or Weekly Ads to find the best discounts in your area. Planning your shopping in advance can also significantly reduce expenses.

13. Use Help from Charitable Organizations

There are many charitable foundations and organizations in the U.S. that assist people in tough financial situations or those simply in need. These programs offer a wide range of services—from free or low-cost clothing and food to medical services and even holiday gifts for children, such as at Christmas.

My Experience: I was surprised to learn about programs where you can receive not only clothing but also gift cards, discounts on utilities, or even home repair assistance. Large organizations like Goodwill, Salvation Army, or Toys for Tots provide a wide range of support, and local charities may offer more personalized help.

Tip: Search for programs in your area via charity websites or local Facebook communities. It's also helpful to check websites like 211.org or Charity Navigator to find suitable resources.

14. Use Food Banks to Reduce Grocery Expenses

Food banks are an excellent resource for those looking to save on groceries or those in difficult financial situations. In the U.S., many organizations provide free food to anyone who needs it, no questions asked.

My Experience: I was surprised by how well-organized the system is. In some food banks, you can get not only basic items like rice, pasta, and canned goods, but also fresh vegetables, fruits, meat, bread, and even ready-to-eat meals.

How to Find a Food Bank:

• Visit the Feeding America website to find a local food bank.
• Check local religious organizations, as they often organize food giveaways.
• Look for seasonal promotions in your city—many food banks increase their distributions around holidays like Thanksgiving or Christmas.

Tip: Don’t be afraid to use food banks, even if your income is relatively stable. These organizations exist to help people, and the money saved on food can be redirected toward other needs like utilities or personal savings.

15. Seek Help from Local Churches and Religious Organizations

Many churches and religious organizations in the U.S. offer assistance not just to their congregants but to anyone in need. This support can come in the form of food, clothing, bill payments, or even temporary housing.

My Experience: When I started looking into these opportunities, I realized that many churches are genuinely willing to help anyone who asks. For instance, one local church organized free meals on weekends, and another distributed gifts to children before Christmas.

How Churches Can Help:

• Food assistance. Some churches run food pantries or provide free meals.
• Clothing and essentials. Often, you can find programs where they distribute warm clothing, blankets, or school supplies.
• Bill payments. Some organizations allocate funds to help with utility bills or rent.
• Emotional support. In difficult times, just having someone to talk to can be invaluable.

How to Find Help:

• Visit the websites of local churches, as they often post information about their charitable programs.
• Reach out to large religious organizations like Salvation Army or Catholic Charities.
• Check flyers or notices at libraries and community centers, where local religious events and programs might be poste

Tip:Even if you’re not religious, don’t hesitate to ask for help. These programs are meant to support everyone, regardless of their faith. Many people have already benefited from this support and managed to improve their financial situation.

16. Take Advantage of All Available Assistance Programs

There are several federal programs in the U.S. that can help in tough times. For example, the SNAP program offers food assistance to low-income families, and TANF provides temporary financial aid and employment programs. Many people also qualify for the Earned Income Tax Credit (EITC), which helps recover money through tax filings if your income is below a certain threshold. Additionally, each state has local organizations offering assistance, such as 211, which connects you with resources like food banks, housing aid, and medical services.

Conclusion

By following these simple and practical rules, you can save money and build capital, even if your current income is modest. The key is to stay disciplined and take advantage of all the available tools. Remember, every dollar saved today contributes to your financial freedom in the future.