How to Save $200 Per Month Without Feeling Deprived

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Written By tommy b.




Discover how to effortlessly save $200 each month! This achievable target can be met with a few easy tweaks to your lifestyle. Minor modifications to your everyday expenses can help you save more, without the need for drastic budget cuts or sacrificing enjoyment.

With the right money-saving mindset and strategies, you can discover opportunities to bank extra money month after month. This enables you to reach financial goals faster, whether it’s paying off debt, building an emergency fund or investing for the future.

Follow these proven tips to trim expenses and increase earnings each month to reach a savings target of $200 or more. Little tweaks add up to big results over time!

Evaluate Monthly Expenses

One of the top ways to save $200 per month is reevaluating recurring expenses. Ongoing costs that you don’t give a second thought to could present quick money saving opportunities.

Lower Monthly Bills

Mark the bills and memberships you pay each month on autopilot that offer room to cut back:

  • Streaming services – With the rise of streaming “channels”, it’s easy to accumulate more subscriptions than you actually use. Trim any waste by dumping unused services and sharing logins where you can.
  • Cell phone plans – Look for cheaper unlimited talk/text plans if you don’t need heavy monthly data. Avoid financing new phones when you can buy outright at a major discount.
  • Insurance policies – Shop rates annually, negotiate discounts, raise deductibles to lower premium costs on car, home, health insurance.
  • Interest rates – Consolidate debts through balance transfer cards or personal loans with lower interest rates.
  • Gym memberships – Downgrade to a cheaper gym or suspend membership for a few months if not fully utilizing it.
  • Monthly boxes – Review novelty subscription boxes to see if the convenience outweighs the cost.

Paring back even $10-20 on multiple bills quickly moves the needle closer to a $200 total monthly savings.

Audit Energy Usage

An energy audit can identify ways to reduce utility costs. Simple habit changes could save $20 or more each month:

  • Unplug devices when not in use to avoid phantom energy drainage.
  • Use power strips as central off switches for electronics and appliances.
  • Switch to LED light bulbs which use far less electricity.
  • Lower the thermostat temperature by a few degrees during winter.
  • Run ceiling fans to stay cooler without overcranking the A/C in summer.
  • Change HVAC filters monthly for maximum efficiency.

Assess Necessary Expenses

For fixed expenses that can’t be reduced, make sure you’re at least getting the best possible deal. Comparison shop annually for:

  • Auto, home, renters, or life insurance
  • Mortgages, personal loans and credit cards
  • Cell phone service, internet and cable packages
  • Health, dental, and vision insurance plans

Check competitor pricing and negotiate for the lowest reasonable rates based on your usage, credit, and history as a loyal customer. Don’t overpay simply out of habit!

Making Strategic Budget Cuts

Managing your finances effectively often involves making strategic budget cuts. The goal is to trim back on flexible budget areas, opening up extra savings each month without causing deprivation. Here’s how you can do it:

1. Dine Out Less

One of the quickest ways to save money is to reduce dining out and takeout costs. Consider bringing your own lunch to work and eating dinner at home more often. Meal prepping and batch cooking can save both time and money. If dining out is important for your social life or convenience, set a budget for it, like $40-60 per week. Look for happy hour deals, consider splitting plates, and limit dining out to 1-2 times a week.

2. Entertain at Home

Instead of going to bars, restaurants, or events, consider meeting friends at home. Potlucks, board game nights, movie marathons, or crafting sessions can provide inexpensive fun. Limit paid entertainment like concerts, movies, or shows to once or twice a month. Consider renting movies at home or attending free cultural events and festivals.

3. Hold Off on Major Purchases


Pause any planned big expenditures like furniture, electronics, pricey clothing, or other luxuries. Differentiate wants from actual needs. Try to live with what you have or consider buying secondhand. Delaying major optional purchases by even 3-6 months gives your savings a chance to grow. Aim to make these purchases with cash savings rather than credit, which costs more long-term.

4. Renegotiate Monthly Expenses

Many service providers have added flexibility in pausing or lowering monthly costs since the pandemic. You may be able to reduce costs for gym memberships, lawn care, house cleaning, cable TV, high-speed internet packages, or auto and health insurance premiums. Don’t hesitate to call and politely ask about temporarily reducing or suspending your monthly rates if you’re not fully using these services.

5. Shop Smarter

shop smarter

Look for ways to save on your regular shopping. This could mean using coupons, shopping during sales, buying in bulk, or choosing generic brands over name brands.

6. Reduce Utility Costs

There are numerous ways to save on utilities. Consider switching to energy-efficient light bulbs, unplugging electronics when they’re not in use, or being more mindful of water usage.

7. Renegotiate Monthly Expenses

cut cost

In the wake of the pandemic, many service providers have introduced flexibility in pausing or lowering monthly costs. You may be able to reduce expenses such as:

  • Gym, dance class, or personal training memberships
  • Lawn care, house cleaning, or snow removal services
  • Cable TV or high-speed internet packages
  • Auto or health insurance premiums

Don’t hesitate to call and politely ask about temporarily reducing or suspending your monthly rates if you’re not fully utilizing these services. Remember, negotiation is part of the process!

Bringing in Extra Cash: Smart Ways to Supplement Your Income

I totally get the desire to have some extra money coming in. A little supplemental income can make a big difference when it comes to hitting your savings goals faster. Luckily, there are tons of flexible ways to earn extra cash these days!


Got skills in writing, graphic design, web development, social media marketing? Put them to use! Sites like Fiverr and Upwork let you freelance in your spare time and work with clients all over. The freelance world is your oyster!

Driving for Uber/Lyft


Driving for a rideshare company is a go-to option for making extra money whenever you have free time. You control your own schedule, and the cash you earn per hour is pretty sweet.

Affiliate Marketing

This is an easy online money maker – you earn commissions promoting other companies’ products that you love on your own website or social platforms. The more referrals you drive, the more you make!

Selling Handmade Goods

Get crafty! Selling homemade jewelry, candles, clothing and other items locally or on sites like Etsy is rewarding. Plus you get to tap into your creative side.

Renting Out Extra Space

save $200 per month room for rent

Have an unused parking spot or extra room? Rent it out on platforms like Airbnb! You can earn hundreds extra per month. Just make sure to check local regulations first.

The options go on and on. The point is, adding even one steady side hustle for 5-10 hours per week can bring in an extra $200+ without too much time commitment. And driving for Uber or Lyft lets you work whenever you want – total flexibility!

A little extra income goes a long way towards hitting your savings goals faster. Give a few ideas a try and see what works for you!

Changing Up Your Money Habits – Small Tweaks, Big Impact!

Our daily spending habits often happen without much thought – and that can really take a toll on potential savings! But have no fear, even small mindset shifts can make a huge difference over time.

Stop Mindless Spending

We all fall victim to grabbing a quick drive-thru coffee or making random impulse purchases in the moment. But being mindful and questioning each potential buy can add up. Delete those online shopping apps and unsubscribe from any tempting emails to remove the temptation!

Stick to the Essentials

bread and water

It’s easy to toss extra items in the cart at the grocery store without thinking. Make a habit of meal planning each week and only buying what you need for those recipes. Focus on basics and sale items rather than flashy packaged goods. Saving those pennies adds up!

Use Cash Instead of Cards

Studies show people spend way less when using physical cash. It just feels different to hand over bills versus mindlessly swiping a card. Try withdrawing a set amount each week to use for flexible purchases like food, gas, clothes. The visibility helps!

Pay with Purpose

Automate a portion of your paycheck to go straight into savings before you can spend it. Bill monthly splurges like Netflix and Hulu to a dedicated credit card so you see the charges accumulate. Small tricks like this create awareness around habits.

Reward Your Savings!

Apps like Digit analyze your spending and automatically deposit money from your checking into savings. Set milestones and reward yourself when you hit them! Positive reinforcement keeps the motivation going.

See? With a little extra mindfulness, your daily money habits can transform into savings power moves over time!

Making Dollar-Smart Choices in Everyday Life

From our morning routine to weekend plans, there are so many little ways to save on the daily. It just takes paying attention and choosing strategically! Here are some money hacks that can seriously add up:

Choose Generic


Next time you grab a medication or pick up groceries, go for the store brand generic version. You get the same quality at a steep discount. Cha-ching!

Drink Good Ol’ Water

Stay hydrated with plain tap water in a reusable bottle instead of forking over dollars on bottled water or fancy Starbucks drinks every day. Your wallet will thank you!

Cook at Home

Cooking basic meals at home saves a ton compared to takeout, meal kits, and restaurant food. Plus, you control healthier ingredients. Browse budget recipe sites for affordable meal ideas.

Access Local Freebies

Take advantage of free concerts, art exhibits, fitness classes, and other fun local happenings. You might be surprised what’s available gratis in your community if you do some research.

Go on Hikes

Instead of material things, spend money on shared experiences that enrich your life, like hiking beautiful local nature trails. The memories last much longer than impulse purchases.

Bike More


For shorter trips, hop on your bike rather than driving everywhere. You’ll save on gas while getting some exercise. Win-win!

See? With some small tweaks, your daily choices can keep more cash in your pocket. Try out a few money hacks that fit your lifestyle. It all adds up!

Final Thoughts

With a mix of these creative saving tactics, banking an extra $200 each month is very feasible without pinching pennies or sacrificing the things you enjoy. Small tweaks that optimize regular spending, generate supplemental income and foster more mindful money habits make reaching this goal completely painless.

What are you working towards – paying off student loans? Saving for a down payment? Building an emergency fund? Whatever your savings motivator may be, an extra $200 a month makes a major difference over time.

Turn saving into an ongoing game. Experiment to determine which specific strategies work best for your lifestyle. Before you know it, you’ll be making steady progress towards your financial aims stress-free! Which money saving tip are you excited to try first?

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