15 Ways to Save Money and Be Frugal in 2025

We all know how difficult it can be to save money in 2025. It seems, especially in Canada, we’re taxed at every turn. A trade war has made a bad situation worse. There are, however, many ways you can save money. I don’t believe there’s one secret way to save money, but using many methods could save you hundreds of dollars a month. Here are 15 ways to save money and be frugal in 2025.

1. Automate Your Savings

• Automate your Effort: Automatically transferring a set amount of money into a savings or investment account each month, or biweekly when you get paid, works very well. You can do this through payroll deductions (depending on your employer) or through your banking app. Also, there are apps like Qapital, Chime, or Digit that can round up your purchases and save the difference, making saving effortless.

2. Price Comparison

• Compare Before You Buy: Use price comparison websites and browser extensions like Honey or Rakuten to find the best deals and track discounts before buying. You can also shop the local flyers and compare prices, or browse their websites and do the same. Search for coupons when possible.
• Cashback & Reward Programs: Take advantage of cashback apps (e.g., Rakuten, Ibotta) and credit cards that offer rewards for everyday purchases. Keep in mind spending more to save more does NOT work. As long as your spending remains stable, these programs can add up your savings.

3. Review Subscription Frequently

• Audit Subscriptions: Periodically review your subscriptions (Netflix, Spotify, gym, etc.). Cancel services you don’t use frequently or share accounts with family members or friends to split costs.
• Use Shared Services: Share streaming services or subscription boxes with family or friends to reduce the cost of things you use regularly, but be aware many services now track IP addresses and are cracking down on account sharing.

4. DO NOT Impulse Buy

• Wait Before Buying: If you’re thinking of buying something considered non-essential, wait and think about it. Always buy your “needs” first, and wait before buying your “wants”. This often helps you realize that you don’t actually need the item. Save up money before buying your “wants”.

5. Meal Planning & Cooking at Home

• Plan Meals: Set a weekly menu and buy groceries based on what you need for the week. This prevents impulse buying and reduces food waste. Bulk deals are tempting but often lead to a stockpile of items you are not consuming that week.
• Cooking In Advance: Preparing meals in advance and freezing them can reduce the cost of takeout or eating out on the days you don’t feel like cooking.
• Reduce Your Food Waste: Track what you have in your pantry and fridge to avoid buying duplicates and to use up leftovers creatively.

6. Use Public Transport or Carpool

• Public Transportation: If feasible, use public transportation to save on gas, car maintenance, and insurance. Many cities have affordable monthly passes.
• Carpool or Share Rides: Share rides with friends or coworkers to cut down on the costs of commuting.

7. Buy Used

• Thrift and Consignment Shops: Shop for clothes, furniture, and electronics at thrift stores, consignment shops, or online marketplaces like Facebook Marketplace and eBay. Just be cautious, as scammers are everywhere. Never pick up items alone. Meeting a seller at a police station parking lot is a great way to avoid danger.
• Recycled Electronics: Instead of buying new tech, look into certified refurbished products such as cell phones, which are often much cheaper and still have a warranty.

8. Negotiate Bills & Services

• Negotiate Bills: Call your service providers (internet, phone, insurance, etc.) and ask for discounts or a better rate, especially if you’ve been a loyal customer. Some companies will lower your rates just to keep your business.
• Switch Providers: Shop around for better deals on insurance, utility providers, and streaming services to ensure you’re getting the best value.

9. Energy Efficiency

• Use Smart Thermostats: Invest in a smart thermostat that can optimize heating and cooling to reduce energy bills. Your local utility company may actually have promotions on such items.
• Switch to LED Bulbs: Replace incandescent bulbs with energy-efficient LED bulbs, which consume less power and MAY last longer.
• Unplug Devices: Unplug devices when not in use to avoid “phantom” energy consumption. Smart power strips can help with this.

10. Leverage Free or Low-Cost Entertainment

• Free Events and Activities: Attend free local events, such as museum days, free concerts, or community festivals. Many cities offer free or low-cost entertainment options.
• Streaming Services: Instead of paying for multiple streaming platforms, stick to one or two and explore free services like Tubi, Pluto TV, or library services that offer movies, TV shows, and audiobooks.

11. DIY Projects

• Do-It-Yourself: Learn how to fix small issues at home (e.g., fixing leaky faucets, reupholstering furniture) instead of hiring someone. YouTube tutorials and online resources can guide you through many simple tasks.
• Crafting & Upcycling: Repurpose old clothing or furniture instead of buying new.

12. Use Financial Apps to Track Spending

• Track Spending: Use apps like Mint or YNAB (You Need a Budget) to categorize your expenses and track your budget. This will help you understand where your money is going and identify areas to cut back. You can do the same on paper depending on your preference.
• Debt Repayment Apps: If you have debts, create a strategy to pay them down faster while saving on interest. Some apps like Debt Payoff Planner can help with such tasks.

13. Smart Shopping Strategies

• Seasonal Sales: Shop during seasonal sales or wait until items go on sale. For example, buy winter clothes in the spring or electronics around Black Friday.
• Buy in Bulk: When possible, buy items like toiletries, canned goods, and pantry staples in bulk. This often reduces the per-unit cost and can save you money over time. Keep in mind you don’t want to stockpile too many unnecessary items.

14. Use Technology to Avoid Overpaying

• AI Price Trackers: Use AI-based price trackers like Honey, CamelCamelCamel (for Amazon), or PriceBlink to automatically monitor and alert you when prices drop on products you want to buy.
• Digital Coupons: Search for online coupons or cashback offers before making any purchase, whether it’s for groceries, clothes, or tech.

15. Minimalism and Mindful Consumption

• Adopt Minimalism: Practice minimalism by focusing on buying only what you truly need. It encourages mindful spending and helps curb impulsive purchases.
• Focus on Quality: Sometimes buying fewer, but higher-quality, items can save money in the long run because they last longer and provide more value.