Trying to Cut Costs? Redditors Swear By These Money-Saving Techniques

Saving money in today's world can feel like swimming against a tide of rising costs and relentless inflation. But not all hope is lost. With a little ingenuity and strategic thinking, you can keep your savings afloat and start cutting back on unnecessary expenses. From bidding alcohol goodbye and growing your own veggie garden to hitting up auction homes to snag essential supplies on the cheap, here are 10 cost-saving hacks that thrifty Redditors suggest doing.

By researching local auctions near where you live, you can snag essential supplies and all kinds of items including jewelry, clothing, collectibles, and more for a fraction of the cost than if you were to buy them new.

Have you seen how much a bar tab is nowadays? It's mind-boggling how a mere few drinks can rack up a bill of $70 or more. Cutting back on alcohol can lead to significant savings since indulging at bars (or even going to the liquor store) can quickly add up, Redditors say.

It's always worth a shot to check in with your car and home insurance agents about potential unapplied discounts that could be helping you save money. You never know what hidden savings might be waiting to be unlocked.

It never hurts to regularly check with internet and phone providers to explore better deals. By staying proactive and exploring your options, you could uncover more affordable plans or promotions that could significantly reduce your monthly expenses without compromising on the services you need.

Meal planning can reduce your grocery bill by cutting out unnecessary expenses and impulse purchases. While it may not yield the desired savings initially, as the Redditor points out, substitute prepackaged store-bought items with homemade alternatives like muffins, breakfast cookies, and frozen fruit to save more on groceries.

Harness the power of price-matching to save big on your next grocery run. By comparing prices and utilizing apps like Flipp, ShopSavvy, and Price Cruncher, you can ensure that you always get the best deals while stocking up on everything you need.

This strategy might seem a bit questionable depending on who you ask, but times are hard, so you won't be shamed by us. Unlike us, Amazon is worth billions — surely it can accommodate some of our frugal efforts. (Right, right?!)

Community-driven initiatives such as the Buy Nothing Project, Freecycle, and Streetbank allow members to share and receive items for free while promoting a culture of kindness and support. Bonus: It also minimizes waste and encourages sustainability.

Don’t underestimate the power of homegrown goodness. Planting and growing your own produce can cut down on grocery expenses. Plus, growing your own veggies allows you to enjoy a bountiful harvest that wasn't produced using pesticides and other harmful chemicals.

Exploring tax breaks and rebates can be another savvy way to reduce expenses and keep more money in your pocket. By taking advantage of these opportunities and checking in with your employer, you can potentially lower your tax liability or even receive reimbursements for expenses such as childcare.