10 Money Saving Tips to Improve Your Finances in 10 Minutes or Less

money saving tips

Who doesn’t enjoy a quick financial win? Even if you’re short on time, you can make small steps to improve your finances with these money moves, which can improve any situation in just 5 to 10 minutes. If you need some motivation to get your finances back on track, these money saving tips will help you make an impact right away.

1. Clean out your wallet regularly

When it comes to tips on saving money, start small. Grab your wallet or purse and spend a few minutes cleaning out the contents. Throw away any crumpled receipts, but be sure to look over old receipts before tossing them—you may need them to return an item or use for a mail-in rebate form. Keep a small amount of cash on you to avoid unnecessary ATM fees if you suddenly find yourself making a cash-only purchase. Evaluate the credit cards you regularly carry with you and ask yourself: Are the interest rates fair? Do you still need them all, or can some be canceled or left at home? Lastly, file away any important business cards and coupons, and stash away loose change in a safe place.

2. Double-check bills before paying them

We’re all guilty of being in a hurry or getting into a regular routine of paying the bills, but you should always double-check the transactions. Before paying your next set of household bills, do a quick inventory of each line item. Sometimes companies will add on extra fees or a purchase will get double posted to your account. Make a point to regularly check your bills before paying them so you’re not losing out on money that might be rightfully yours.

3. Unsubscribe from deal newsletters

Your email address is a very powerful tool, which is why retailers and deal sites are always trying to get you on their newsletter lists. Reserve your inbox for emails and newsletters that actually help improve your life, not tempt you to impulse buy. As you receive deal alerts, coupons, and limited-time offer emails, unsubscribe from the ones that no longer add value to your life. To get rid of physical junk mail too, sign up with Catalog Choice to stop all paper junk mail for good.

4. Question yourself before purchasing

One of the best money saving tips is also the simplest. Before hitting the “buy” button on your next purchase, pause for a few seconds and ask yourself these questions:

  • Why am I really buying this?
  • Do I already own a similar item?
  • Is there a less expensive alternative?
  • Can I live without this item altogether?

Taking a few seconds to pause before making each purchase will help you avoid impulse buys and keep more money in your bank account.

5. Write down your debts and interest rates

Rather than committing your debt balances and corresponding interest rates to memory, take a few minutes to write them all down in a notepad or detail them in a spreadsheet. How can you make progress on your debt goals if you don’t know the exact balances? Create a quick routine of staying updated on your account balances each month so you can prioritize as needed and pay off your debt faster.

6. Audit your monthly subscriptions

Here’s one of the most obvious saving money tips: Don’t buy what you no longer need. Are you still getting the most out of that $10 monthly subscription box? Do you still need to keep paying for the upgraded cable package? Spend a few moments taking inventory of all the monthly subscriptions and extras you’re paying for, and evaluate if you still use them. Cancel the ones you no longer want and pocket the savings!

7. Open a new savings account

It may sound a bit counterintuitive at first, but having multiple savings accounts can actually help you save more money towards your goals. Instead of having one multipurpose savings account, separate out your goals into individual savings accounts (for example, one for travel, one to save for a house, and one for emergencies). Start making regular deposits to save for the goals that are most important to you.

8. Check your credit report

When was the last time you checked your credit report? Is all of your information correct and up to date? Once every quarter, take a few minutes to check your credit report for free using a site like Credit Karma, or do a thorough review annually via Annual Credit Report. Make note of any changes and report any suspicious activity that you spot.

9. Automate your finances

With just a few minutes of work, you can automatically pay any recurring monthly bills and set up regular savings transfers towards your goals. Automating your finances will help you reduce the amount of time you spend managing your money each month, as well as making it less likely for you to miss a bill payment.

10. Refinance your student loans

Take advantage of one the most underutilized saving money tips and consider refinancing your student loans to secure a lower interest rate. Spending some time researching this today could potentially save you thousands of dollars over the lifetime of your student loan. Use the calculator below to see how much you could save with a reduced interest rate.

Student Loan Refinancing Calculator






Trying these fast money saving tips could help prevent mistakes and get you on the path to improving your finances. You owe it to yourself to spend just a few minutes evaluating your situation, so use these small tips to save money and reach your goals.

Interested in refinancing student loans?

Here are the top 6 lenders of 2018!
LenderRates (APR)Eligible Degrees 
Check out the testimonials and our in-depth reviews!
2.58% - 7.25%Undergrad
& Graduate
Visit SoFi
2.99% - 6.99%Undergrad
& Graduate
Visit Laurel Road
2.57% - 6.32%Undergrad
& Graduate
Visit Earnest
2.57% - 6.49%Undergrad
& Graduate
Visit CommonBond
2.56% - 7.82%Undergrad
& Graduate
Visit Lendkey
3.11% - 8.46%Undergrad
& Graduate
Visit Citizens
Advertiser Disclosure

Student Loan Hero Advertiser Disclosure

Our team at Student Loan Hero works hard to find and recommend products and services that we believe are of high quality and will make a positive impact in your life. We sometimes earn a sales commission or advertising fee when recommending various products and services to you. Similar to when you are being sold any product or service, be sure to read the fine print, understand what you are buying, and consult a licensed professional if you have any concerns. Student Loan Hero is not a lender or investment advisor. We are not involved in the loan approval or investment process, nor do we make credit or investment related decisions. The rates and terms listed on our website are estimates and are subject to change at any time. Please do your homework and let us know if you have any questions or concerns.