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3 Ways to Save Money in 2021

By June 18, 2021September 25th, 2021Save Money, Money5 min read
3 ways to save money

Saving money can be super challenging, with living expenses, food, insurance, and entertainment costs adding quickly. In this article, I’ll share 3 valuable ways to save money in 2021.

These three methods are easy enough for anyone to incorporate and will help you save money every week.

Using these methods has helped me save thousands of dollars over the past few years, and I’m 100% certain that they will help you save more money too!

Like Dave Ramsey has said, the best time to start saving money is now.

Anyways, let’s get straight onto the list of the three ways to save money.

Disclaimer: This article contains referral links, where I may receive a small commission on signups or purchases at no cost to you. You can read my full disclosure here.

Three Ways to Save Money

1. Round up your spending

The first method of the 3 ways to save money is to find a bank that rounds up your spending.

It’s as simple as it sounds. Every time you make a purchase, the bank will round up the amount to the nearest dollar. For example, a $4.23 purchase would round up to $5, with the $0.77 automatically put into savings.

You can also add a boosted amount, usually from $1 – $10. In the screenshot below from my bank app, you’ll see that my bank rounds up and adds $3 for every purchase I make.

I’m currently saving for a MacBook Air (my 2013 model is struggling 🤣), and this is the easiest and most passive way I can save for it.

This method is perfect for saving for Christmas gifts, birthday presents, a vacation, an emergency fund, and so on.

Best banks that round up purchases:
Acorns/Raiz: Get $5 when you use my invite code: 6P2KYV
UpBank – Australia only. Get $5 by signing up through my link.

3 ways to save money

2. Cost of product vs. hourly rate

Work out how much a product costs compared to your hourly rate at work. This is the method that has saved me thousands of dollars from impulse purchases.

To work out how many hours a product costs, do this simple math:
[Cost of product] ÷ [Hourly rate] = Product cost in hours

This method is a reliable way to stop impulse purchases and shows you that your time equals your money.

Example: An Apple Watch SE costs $269, and I make $21.15 an hour.
Doing the math above: $269 ÷ $21.15 = 12.7 hours of work. From here on, I have to evaluate whether or not the purchase is worth it.

3. Use cashback apps

The last of the 3 ways to save money is by using cashback apps. Cashback apps are an excellent way to save money simply by shopping online.

Shopping through a cashback app or site works exactly like this:

  1. Sign up for a cashback app/site (Rakuten, Swagbucks, Shopback, etc.)
  2. Browse through thousands of cashback deals, click the link for the store you’d like to purchase from.
  3. Place an order in the store; the cashback will be checked within 24 to 48 hours.
  4. Wait 1 – 120 days for your cashback to be redeemable.

It’s as simple as that!

On average, cashback deals range from 1% to 40%, but I’ve seen flash deals as high as 90%. It’s the easiest method to save extra money on purchases you already plan on making.

I don’t recommend spending money for the sake of a cashback percentage, but if you frequently shop at a store like Walmart, why not get 6% cashback with zero effort required.

Best cashback apps:
I’ve saved over $450 from using a combination of these cashback apps.
Rakuten – 2,500+ stores. Bonus $30 after $30 spent.
Join Rakuten today to receive your $30 bonus
Swagbucks – 2,000+ stores. Bonus $3 for signing up.
Join Swagbucks to receive your 300SB bonus
Shopback – 2,500+ stores. Bonus $10 after first purchase.
Join Shopback today to receive your $10 bonus

use cashback apps

Recommended read: 4 best cashback apps & sites in 2021

Bonus way to save money

Participate in a 52-week savings challenge:

A 52-week money savings challenge is a great way to boost your savings in a fun and easy way.

A great thing about savings challenges is that you can start them at any time throughout the year. They’re perfect for kids and adults to do and will encourage you to save money every week.

So what are you waiting for? Get some free savings challenges below!


So there we have 3 helpful ways to save money in 2021.

To start saving money properly, you also need to build healthy money habits and track your finances.

To do so, work out your income each week and expenses. It will also help to list your expenses in categories like:
Living (rent, utilities, and maintenance)
Food (groceries and takeout)
Entertainment (streaming services, going out, etc.)
And so on.

This will help you see if you’re spending money in the right places and not on impulse or unnecessary purchases.

Also, make sure to incorporate and test out all of these money-saving methods. These methods have helped me save thousands of dollars over the past few years, and I’m sure they’ll help you save money too!  😃

How do you save money every month?

Read next:
9 Ways to Save Money on a Tight Budget
Easiest Way to Make Money in 2021 [21 Ideas]

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