How To Save More Money Without Making More

You don't always have to make more in order to save more!

Chapters

00:00 Start Here
00:31 Allocate More Taxes To Be Withheld From Your Paycheck
01:51 Switch Banks
03:09 Index Investing
04:28 Dividend Payments
05:52 Sell Your Unused Items
07:28 Switch To Mint Mobile
08:39 Switch Insurance Providers
09:37 Do A Saving Challenge
10:59 Don’t Waste Anything
12:00 Spend Less

The problem that people often have with saving money is the lack of income. It's hard to save money when you're not making a lot of money; however, if you are savvy with how you go about saving, you can save more without making more. In this video, I share 10 ways you can save more without making more.

1. Allocate More Taxes To Be Withheld From Your Paycheck

One way to trick yourself into saving more money is to allocate more money to be taken out of your paycheck for taxes. There are pros and cons to this, but if you allocate a little more money to be set aside, at the end of the year, you will have a larger tax refund.

2. Switch Banks

Banks are a lot more competitive than they used to be where they compete with different benefits. If you switch banks to a bank with higher interest rates and no fees, you can save more money.

3. Index Investing

If you have a solid emergency fund, you can get a higher interest rate by investing in index funds. If you put your money in a low cost index fund, you can receive an average yearly return of 10%, which can help you save more without making more.

4. Dividend Payments

Dividend payments are when you own stocks or index funds, you can sometimes get a percentage of the profits paid out yearly or quarterly. This is a great way to get extra money to save passively.

5. Sell Your Unused Items

I am in the process of moving and what I have noticed is that we all have things in our house that we don't use. If you can start listing those items online to sell, you can save more and declutter your house.

6. Switch To Mint Mobile

Another great way to save money is by lowering your cell phone bill and switch to Mint Mobile. Mint has plans as low as $15/month, which can allow you to save more.

7. Switch Insurance Providers

As we enter the new year, it is good to take a look at all of your insurance plans and see if you can find any lower rates.

8. Do A Saving Challenge

Saving challenges are ways to have a plan to save more money. If you choose a saving challenge from my video, you can save more by having a plan.

9. Don’t Waste Anything

We waste a lot each year whether that's with food or stuff. If you focus on cutting out your waste, you can save more.

10. Spend Less

The easiest way to save more money is by spending less. If you focus on cutting out your spending, you can save more without making more.

**I am not a financial advisor. The ideas presented in this video are for entertainment purposes only. You are responsible for the financial decisions that you make. Links above are affiliate links where if you click and order, I will receive a commission at no cost to you. **

[ElAgustin]

What's another way to save more without making more?

[pattykake]

I started a no buy 6 months on Jan 1….hoping to extend it to 12 months…I am determined to stick to this …and boost my emergency funds..💰

[MadisonBriggsArtchick]

I am doing a no spend challenge. I have spent a total of $34 on necessities this month and I am really enjoying this challenge! No eating out, no paid entertainment…I am brave and fearless!

[whatsleft]

Started getting better with not wasting food . There's the we have nothing to eat panic but then stopping and actually looking at what's left in fridge / freezer/pantry . More often we are only missing an ingredient or two so we get them rather than doing a big shop

[gabrielafonseca]

I used to use cabs and Ubers to go to and from work. The public transportation to get there was exhausting, unreliable and unsafe in Mexico City. During the pandemic they created a bus line that's safe and the bus stop is only six blocks away from my home. I couldn't believe how much extra money I had at the end of the month and it was an eye opener. I'm currently doing a no spend year since December and it's really not that hard. I want to become frugal and I can do it right now

[plappin]

I am a big believer in selling unused items to those who want/need them. There's an added benefit beside the money: you'll have less clutter in your life. Last week I unloaded two vintage sewing machines -- I priced them pretty low because I wanted them out asap -- and sold each of them in just one day. Many things have become very expensive compared to just a few years ago and there are a lot of people who simply can't afford "new" anymore. You're doing them a favor and yourself as well. Excellent video as always!

[rudymalizia]

You give very good advice.
I disagree about having more money withheld.
That is YOUR money. Why be without it and allow a company have it?
You are teaching discipline. Don't let the gov't hold your money, you be responsible with it. Bank it and let it collect interest vs be without it til tax time comes.

[stevebubar]

Because of u… I switched to mint 2 months ago. Saving me a $100 a month. Great customer service! And earlier this year I shopped around for different car insurance. I went from $247 down to $80! SHOP AROUND PEOPLE!

[markamark]

I'm invested in VTSAX fund, 401k maxed yearly, HSA and finally adding into a 4.25% HYSA (Ally). I'm on track to pay off my house this September 2024 (7 years total out of a 30 year loan @ 4%). To help reach the goals. I cut cable. I switched to mint mobile. I found a better electric plan. I switched to liability car insurance. I cook my own food. I invested in a food vacuum sealer to freeze vegetables, bulk meat, left overs etc. I buy store brand products vs name brand products. I found cheaper laundry detergent in bulk. I stopped drinking soda. I make my own ice tea. I installed a bidet and saved a lot on toilet paper. I live way below under my means. Lets go 2024.

[ana-maria.vătavu]

To have the conviction that you can save more from your present income is so motivational. It gives you the feeling that you already have the security that you are looking for in your life.

[thisisme]

Hi Austin! Heard about your channel from Dawn aka Money Mom. She was right, after listening to just one video, I like what I hear and I'm subscribing. Great info you are sharing!

[jameserickson]

Step 7: I shop around and compare every six months. (Car insurance). In December I lowered my six month car premium for same options from $1150 to $762!

[ashleyohtori]

I've been binge watching your videos and what I've realized is that while tips are important, money and spending is literally a reflection of your thought processes...why you are spending, what are your goals. Thank you for your practical and philosophical videos on the topic!

[axelaazej]

I miss hearing your voice! I listen to you while doing house chores. Happy new year!

[rogerjohnson]

Austin, u r such a natural & born YouTuber for sure! U r going to go FAR!!!

[trinigarcia]

My friends used to laugh at me because i was “cheap”. I dont agree with waste. I see it as throwing away my labor since it takes work to earn money to buy stuff. Anyhow, my present self is in the position it is now, thanks to my past selfs actions

[sandrabryan]

I love my dividends. They pay out quarterly and usually more of a payout at the end of the year(4th quarter). I keep mine in a tax free account (Canada) but we also have a lower tax rate for dividends if held outside a tax free account. Highest tax rate in Canada is on interest, then lower is capital gains and lowest is dividends. Happy frugal New Year!

[NoriegasGaming]

Love Your Channel And All Your Advice And Help.. Wish I Had A Close Friend Like You. Not Even 1 Person Around Me Is Financially Stabled. It Is So Hard To Do It All Alone Around People That Are Living Pay Check To Pay Check And Have A Lot Of Financial Problems 😢😒

[monishthomasp]

Awesome.. short n Sweet video as usual El Agustin.. I found a great way to save money.. previously on most of my off days I used to hit a pub. Nowadays I just sit at home and watch YouTube.. this saves me gas money plus money spent on food and drinks.. eating at home more often made me healthier too. So hopefully less expense on healthcare too.. ❤

[douglaswood]

Cook every meal at home. Utilize portion control to limit the amount of food you cook. I eat meat at every meal except beef. It's too expensive and gives me heartburn. 2 s!ices of bacon at breakfast, a few slices of deli meat at lunch, and no more than 4 oz of salmon, pork, chicken or sausage for dinner. I pad out all my meals with inexpensive starches and fresh vegetables. My stomach gets full at every meal with no indigestion. The financial reduction in my weekly grocery bill surprised me.