101 Proven Ways To Spend Less and Save More

Save and Finance

Carson O.
9 Min Read
  • Look for affordable housing and accommodation.
  • Cut down on your taxes.
  • Manage food and restaurant spending.
  • Trim your transportation expenses.
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You’d be surprised at how many financially literate people seek advice on how to cut spending and save more. If you are finding a way of saving for future investments or retirement, this article will take you through all proven ways how to spend less and save more of your salary or income.

Saving part of your monthly income, or daily wage is determined by your priorities. Therefore, if you tend to make myriads of small worthless purchases, you will most likely chew into your savings portion. While it may not look big, summing up the cumulative funds wasted will shock you. This is why you should start cutting your spending as soon as possible.

Important to note is that many spenders who decide to save may be enticed by the accumulating sums of money in their savings account to a point that they will dread using the savings for investment. Since you cannot predict the future, it is important to keep your mind open to investment opportunities, instead of locking money in your bank account.

Below are the steps to saving more of your income;

Housing and Accommodation

Housing is associated with costs such as insurance, utilities, furniture, maintenance etc. It is the leading expenditure for most homes and finding ways to cut down on housing costs is ultimately essential. Below are steps you should take to effectively control your spending on housing.

1.      Share rent with roommates

If you are single, you are more flexible than couples. This means that you can opt to leave with roommates who will share housing bills, thus saving you money. In your youthful years, it is crucial to save as much as possible.

2.      Move to a lower-cost rental

There is no need of living solo in a luxurious rental house that costs a fortune. Live within or better still, below your means. Save and chase your financial goals.

If living in cheaper rentals means that you should move away from towns and urban areas, then by all means, DO IT!

However, you shouldn’t compromise your security and safety in the name of ‘saving money’. Abstain from ‘high-crime’ neighbourhoods and ghettos. Safety always comes before cost.

3.      Negotiate rental increases

Several unscrupulous landlords take advantage of ignorant tenants by increasing rent yearly. If you find yourself in such a situation, contact the landlord via email or personally and talk to them. If the rental increment was done illegally, feel free to use an advocate if the landlord is unwilling to listen to your pleas.

In doing this, you should take note of your environment. The landlord (at times) may organize a way of evicting you from his house. You may even get harmed.

4.      Live with relatives

It is general knowledge that some families don’t get along and therefore, this option may not apply to you. However, if it does, you will need to sit down with the willing relatives and discuss arrangements.

You may choose to pay them and if they are not willing to take payment from you, then you will have to discuss reasonable terms of accommodation.

If your folks’ home is close-by, living with them will mean lesser freedom but better saving. Pick your poison wisely.

5. Get to the path of purchasing your own home

Purchasing your own home may be very expensive but in the long run, will help you evade monthly rent and you will therefore spend less and save more.

This section needs more explanation, detailed in a subsequent article. Consider subscribing to our newsletter for it, and more about how to purchase real estate.

6. Reduce homeowner expenses

If you already own a home, there are several ways in which you can save expenses;

  1. Get a roommate and some rental income
  2. Convert a section into an Airbnb
  3. Contain your utility costs e.g., energy, water, internet and decoder subscriptions.

Cut down on your taxes

Alongside housing costs, taxes are among the highest expenditures for individuals and families. Everyone is taxed by the government agency KRA. However, learning how to legally reduce your tax rate is essential. Here are some pointers in the right direction:

  • Use retirement savings plan – Such investment plans are sheltered from taxation.
  • Reduce the amount of sales tax you pay – When you buy most consumer products, you pay sales tax. Therefore, if you spend less money, you reduce your sales taxes.

Manage food and restaurant spending

Learning culinary strategies will help you cut down on restaurant spending alongside maintaining your overall health and nutrition.

  1. Learn how to cook – cooking at home has always been cost friendly as compared to eating at restaurants and hotels.
  2. Consider store brands – big brands spend a lot of money on marketing and will therefore set high processes on their commodities to recover money spent and make a profit. Do your research and purchase food from less popular brands. Take a keen note of quality though.
  3. Buy in bulk – buying in bulk will save you money substantially through operational and transport costs.
  4. Stop buying bottled water – make a habit of boiling your water and carrying it to places instead of spending money on it.
  5. Carry packed lunch regularly
  6. Go easy on beverages, especially alcohol.

Trim your transportation expenses

Commuting should also be factored in while cutting down on spending. Choosing to walk short distances will not only help you save on small expenses but also help your health.

For longer distances, here are the guidelines;

  • Go for public transport
  • Travel as a group if you choose your car and share fuel costs
  • Ride your bicycle if you own one

Finesse your fashion finances

Quite often, ladies are culprits of fashion spending. Cutting down on non-essentials is a critical step in saving income. Here is how to save;

  • Don’t chase the latest fashions, as they will soon get outdated
  • Buy long-lasting, high-quality clothing
  • Avoid clothes that require dry cleaning as it is costly
  • Look for discounts in specific shops
  • Minimize accessories. Stay simple.

Tame your technology spending

Jumping up to catch the latest gadget is a bad idea. More often than not, the gadget has bugs and is quite costly.

Waiting for some time before purchasing that latest Samsung phone or Tecno, will ultimately save you time and trouble from bugs not seen by the manufacturer.

All in all, avoid buying gadgets just because you have the money. Save your income and channel it towards financially rewarding goals.

Handle your healthcare expenses

When you are young, you may shun the importance of healthcare insurance. However, growing old exposes you to all sorts of health risks. Therefore:

  • Look for good health insurance medical coverage while you are young
  • Examine your employer’s benefit plans
  • Kick your addictions such as alcohol and drugs. Prevention is cheaper than treatment


In summary, you should never equate spending more money with having more fun. Enjoying life is determined by the people around you and how you relate with them, your health and mental well-being, to mention but a few. To enforce this money-saving habit, hang out with people that share the same values and you are guaranteed success in spending less and saving more.

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I am a multi-faceted professional with a strong foundation in Business and Finance, honed since 2020. Additionally, I possess a deep passion for automobiles, serving as an avid car enthusiast. In parallel to my diverse interests, I am also a dedicated student pursuing a career in the medical field.

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