Try These Tips To Save Money In 2025
Lately, it’s rare to leave a financial situation feeling like you got a great deal. Prices are up, tension is high, and many families are finding it harder than ever to make ends meet. One way you can take accountability for yourself under these circumstances is to set a budget and stick to it. Once you set your budget, you might find yourself looking for ways to stretch it further. Read on for some tips to get the most out of your hard-earned money in 2025. If you’re considering filing for bankruptcy with our Las Vegas bankruptcy lawyers, contact our firm for your free consultation at 702-370-0155.
1. Maximize Your Credit Card Usage
This doesn’t mean to take yourself on a shopping spree you can’t actually afford using your credit cards. This just means to use your credit cards wisely. Most credit cards offer loyalty points which can be redeemed for air travel, cash back, and more. While the percentage is usually small, it can add up quickly if you use your credit cards to pay for monthly bills like your streaming services and utilities, and larger one-off expenses like medical care or a new phone or computer. The next step to getting the most out of your credit cards is by paying your balance in full each month. When you do this, it keeps your revolving available credit high, which is good for your credit score. It also helps you avoid interest payments and late fees, which can be expensive because most credit cards have relatively high APRs.
2. Cancel The Services You Don’t Need
As the cost of living increases, many people are cutting down on non-essential purchases. That’s why retailers and fast-casual restaurants have been shutting down ever since the COVID-19 pandemic. And you as an individual have no obligation to spend your money on things you don’t need just to keep businesses open. If you haven’t watched a show on Netflix in a month, cancel it- it only takes a few moments to re-join when something new you want to watch is released. Check your bank account statements for subscriptions that you no longer use and forgot about- there are apps that can complete this for you. Fun fact- if you cancel your Amazon subscription, you still get free shipping at $35 and it is delivered about just as quickly. Plus, there is less temptation to impulse buy things you don’t really need. Saving $5 here and $10 there eventually becomes substantial savings over the course of a year.
3. Try Coupons & Cash Back Apps
You might not know how to use coupons, or you might even be embarrassed to try. There are plenty of people who don’t even sign up to get member prices at their local grocery store. Start there- having a phone number to enter at checkout will usually save you a solid percentage per item and allow you to take advantage of other special offers. For example, my primary grocery store has an app that shows weekly specials and sometimes offers general coupons like $3 off any produce purchase or $5 off any purchase of $20 or more. These are automatically linked with your cell phone so you don’t have to pull coupons out at the register.
You can add another layer of savings if you don’t mind clipping physical coupons. Many grocery stores and household goods companies send out mailers with coupons that can be added to your membership savings at your grocery store. You can sign up for additional coupons on their websites and other coupon websites. You have to be extremely careful while reading the terms on these coupons. They may have an expiration date that is rapidly approaching, or require that you buy two or more of the product to get the deal. If you have the space, buying in bulk can be convenient and allow you to qualify for coupons that save you money.
After all of these discounts have been applied, you can scan your receipts for cash back. Ibotta and Fetch are two examples of apps that you can use to scan your receipts and receive cash back for your purchases. Sometimes when a company releases a new product, they offer cash back for the item’s full value so the shopper can test the product risk-free. An item being on sale or clearance at the store doesn’t invalidate cash back on these apps, which occasionally creates an opportunity to earn marginal funds on your purchase. Like physical coupons, the terms of these offers need to be reviewed carefully for the shopper to get their cash back. These apps often give the choice between cash back or redemption for gift cards. If there is a special- say, 2,500 points for $25 cash back or 2,250 points for a $25 Home Depot gift card, and you already need to make a purchase there- selecting a gift card special can allow you to save even more.
4. Reduce Your Eating Out Budget
Sometimes, a family only has time and energy for stopping at a drive-through or ordering food on DoorDash. But fast food costs are rising, as are fees and tipping expectations when using a delivery service. Most of the time in Arizona, your order is going to melt or re-bake, spending an hour in the back of the driver’s car or bicycle. If convenience is your goal, stocking up on frozen and ready-made meals costs far less than ordering from any type of restaurant. You can prepare your meals for the week if you are looking to eat healthier. If you simply want to eat at restaurants less, you can try meal delivery services like Factor and Hello Fresh. These options might not be the cheapest, but they usually have sign-up specials that offer significant savings. Once the special expires, simply move on to another service, and repeat the cycle as often as they will give you sign-up bonuses. They will try to trick you by offering free breakfast or immunity shots for life if you maintain your subscription- don’t fall for it! Also, this is not saying to lie, but often if you contact these companies whenever there is something wrong with a delivery (e.g., if it comes late or is missing an item), they will offer you a discount to remain a customer. Keep track of your memberships if you do this, as it can become complicated to juggle which dates your deliveries are coming and when you need to cancel services.
5. Look Into Formal Debt Relief
There is only so far you can extend your budget with scrimping and saving. You could also experience a setback outside of your control that makes it harder to stay current with your monthly payments. In a serious debt situation, while budgeting is always beneficial, you may need several hundred or even thousands of dollars to keep your creditors from pursuing a lawsuit, repossession, wage garnishment, and more. Upon filing for bankruptcy, the automatic stay goes into place and protects the debtor from their creditors. If the debtor successfully discharges their debts through bankruptcy, the creditor cannot proceed with the collection effort after the automatic stay is lifted.
Many companies might advise you to consider debt settlement and other forms of debt relief before turning to bankruptcy. The problem is that many people who use debt settlement end up spending significant funds on the effort, life happens and they miss a payment, their financial situation goes into freefall, and they end up filing for bankruptcy. All of this time, money, and effort could have just been put into the bankruptcy filing, which might be complicated by the debt settlement attempt. Don’t rush when choosing between debt relief options. Many professionals should be willing to evaluate your situation without charging you a fee.
Have More Questions? Don’t Hesitate To Ask With Your Free Consultation
Bankruptcy debtors are required to take credit counseling courses, which are meant to educate about budgeting after debts have been discharged. If your budget is constricted by consequences of debt like interest, late fees, overdrafts, etc., filing for bankruptcy may clear your debts so you have more funds available for what’s most important to you. Want to learn more about the process of declaring chapter 7 or chapter 13? Schedule your free debt evaluation with our bankruptcy firm in Las Vegas today at 702-370-0155.
Las Vegas Bankruptcy Lawyers
LAS VEGAS
7251 W Lake Mead BLVD #300
Las Vegas, NV89128
Office: 702-879-2499
Email: [email protected]
HENDERSON
1489 W Warm Springs Rd. Ste 110
Henderson, NV 89014
Email: [email protected]
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