15 Easy Ways to Save an Extra $50 a Month

Saving money takes discipline, and it's easy to lose hope on the road to meeting your goals. That's why it really helps to start small. Rather than push yourself to save hundreds of dollars each month beyond your current saving rate, start with a $50 monthly boost instead. Here are a number of easy ways you can eke out an extra $50 on a monthly basis -- and grow your savings slowly but surely.

Our credit card expert uses this card, and it could earn you $1,148 (seriously)
As long as you pay them off each month, credit cards are a no-brainer for savvy Americans. They protect against fraud far better than debit cards, help raise your credit score, and can put hundreds (or thousands!) of dollars in rewards back in your pocket each year.

But with so many cards out there, you need to choose wisely. This top-rated card offers the ability to pay 0% interest on purchases until late 2021, has some of the most generous cash back rewards we’ve ever seen (up to 5%!), and somehow still sports a $0 annual fee.

That’s why our expert – who has reviewed hundreds of cards – signed up for this one personally. Click here to get free access to our expert’s top pick.

The longer you carry credit card debt, the more money you end up throwing away on interest. But if you manage to knock out your balance, you might save yourself serious money on interest -- perhaps $50 worth on a monthly basis.

Swapping your existing mortgage for a new one with a lower interest rate could easily lower your monthly payment by $50 or more. It pays to refinance if you qualify for a competitive interest rate and you plan to stay in your home long enough to recoup the closing costs you'll pay to finalize your home loan.

Restaurants charge an enormous markup on the meals they serve. You can boost your savings by mostly cooking your meals at home -- a choice that may, incidentally, be healthier for you as well.

Many people throw out money in the form of wasted or expired food. To avoid that, sit down at the start of each week, figure out what meals you'll be making, and then write up a supermarket list that includes the ingredients and staple items you'll need. It's a better bet than wandering the aisles and throwing random groceries into your cart.

Rounding up coupons may not seem like the most fun activity, but in the course of a month, you could save a lot of money by scoping out discounts. Whether it's savings on groceries, auto maintenance, or household essentials, it pays to search online and in newspapers or mailers for great deals.

Our credit card expert uses this card, and it could earn you $1,148 (seriously)
As long as you pay them off each month, credit cards are a no-brainer for savvy Americans. They protect against fraud far better than debit cards, help raise your credit score, and can put hundreds (or thousands!) of dollars in rewards back in your pocket each year.

But with so many cards out there, you need to choose wisely. This top-rated card offers the ability to pay 0% interest on purchases until late 2021, has some of the most generous cash back rewards we’ve ever seen (up to 5%!), and somehow still sports a $0 annual fee.

That’s why our expert – who has reviewed hundreds of cards – signed up for this one personally. Click here to get free access to our expert’s top pick.

Tired of hefty co-pays for your prescriptions? It pays to ask your doctor if switching to generics is possible. Doing so could save you a bundle at the pharmacy.

That gym membership you use once a month? It's probably not worth the price tag. If there are services you continue to pay for but don't use, cancel them immediately. You may be surprised at how much cash that frees up.

Keeping busy doesn't have to equate to spending money. If you swap movie theater trips with streamed movies at home and other such no-cost entertainment, you could grow your savings quite nicely.

Many people are working remotely these days, but if you're not, it pays to see if there's a trusted colleague you can split the driving with. Doing so could reduce your spending on gas, tolls, and parking.

Many of us routinely fall victim to unplanned purchases, but those can be real a budget-buster. A better bet? Take steps to avoid them, as doing so could work wonders for your savings. One easy trick is to not store your credit card details on your phone, laptop, or other devices. If checking out becomes a chore, you may be inclined to abandon impulse buys rather than go through with them.

Our credit card expert uses this card, and it could earn you $1,148 (seriously)
As long as you pay them off each month, credit cards are a no-brainer for savvy Americans. They protect against fraud far better than debit cards, help raise your credit score, and can put hundreds (or thousands!) of dollars in rewards back in your pocket each year.

But with so many cards out there, you need to choose wisely. This top-rated card offers the ability to pay 0% interest on purchases until late 2021, has some of the most generous cash back rewards we’ve ever seen (up to 5%!), and somehow still sports a $0 annual fee.

That’s why our expert – who has reviewed hundreds of cards – signed up for this one personally. Click here to get free access to our expert’s top pick.

Paying for a lawn mowing or snow removal service may be convenient, but it's apt to cost you. If you're willing to do that and other maintenance yourself, you could pad your savings over time.

Maybe you're paying a premium for a cable package that offers 347 channels you don't even watch. Or maybe you're paying for a lot of mobile data that you don't need now that you're working from home. Take a look at these bills and see about downgrading to reap savings.

A lot of people these days use streaming services instead of cable since they're a lot cheaper. If you're able to cut the cord, you, too, could walk away with more money at the end of the month.

Store-bought coffee may be a nice thing to treat yourself to occasionally, but if you want to grow your savings, brewing your own morning caffeine is a better bet. You'll spend a lot less, not to mention save time on your morning routine.

If you own a home and a vehicle, it pays to see if getting insurance for both through the same company will lower your costs in a meaningful way. Often, you'll snag a huge discount for bundling two different policies.

Our credit card expert uses this card, and it could earn you $1,148 (seriously)
As long as you pay them off each month, credit cards are a no-brainer for savvy Americans. They protect against fraud far better than debit cards, help raise your credit score, and can put hundreds (or thousands!) of dollars in rewards back in your pocket each year.

But with so many cards out there, you need to choose wisely. This top-rated card offers the ability to pay 0% interest on purchases until late 2021, has some of the most generous cash back rewards we’ve ever seen (up to 5%!), and somehow still sports a $0 annual fee.

That’s why our expert – who has reviewed hundreds of cards – signed up for this one personally. Click here to get free access to our expert’s top pick.

There's nothing wrong with building savings over time if you can't do it overnight (which most people can't). Follow these tips to stash an extra $50 in your savings account each month, and rest assured that it will really go a long way.