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Saving Tips for Penny Pinchers

At some point in most of our lives, we have all had to save money.  We have had the experience of either buying a home, purchasing a car, planning a vacation, paying for college, saving for retirement or just simply putting funds aside in case of an unforeseen emergency.  

Here some easy, less painful ways to save:

COUPONS: Never go shopping or out to dinner without them! Department stores have made this easier than ever.  They either mail them to you directly or you can easily access them from your smartphone. When making plans to go out to eat or shop, go through your coupons to see if you have any to use.  Also, when creating your grocery list for the week, pick out coupons for the items you need and use. Your goal should be to try and have coupons for half or more of the items on your list.

PLAN: Planning is important. The first thing you need to ask yourself is “Do I really need this?” If your answer is “no,” save the money. If your answer is “yes” because the item is truly a must have, take time to do research investigating brands, best price and where to buy.  Determine how you’re going to pay for it, cash or credit. If cash is the choice, calculate the total and determine how much your budget can permit without causing stress and

set aside each payday until you have the needed cash. If your choice is credit, investigate the stores that are offering interest free options and make sure you can pay off the balance before interest is applied. NOTE: Typically, if you are using the interest free option and the balance isn’t paid before the end of the term, interest is applied to the entire purchase price, not just the remaining balance.

GIVE UP TEMPORARILY: This one is probably the most challenging for most people to accomplish. It’s simply just giving up the extras! It can be difficult to refrain from eating out, getting manicures and pedicures, having your eyelashes done, going tanning or shopping because you are bored. Everyone in the family should participate in making this sacrifice. Try and put a positive spin on this option. Some examples would be healthier meals at home,

giving your nails a break, artificial tanning is not so good for you and if you already have 4 flat screens in the house, do you really need the 75 inch? Ladies, I know what my closet looks like and I don’t need any more clothes and or shoes. Trust me, you will be surprised how much money you can save, even if you delay gratification for 6 months. 

APPS and WEBSITES: There are many apps and websites that help save money or allow you to compare prices. The Ibotta App is a great app to use when grocery shopping to earn rewards points towards gift cards.  The Rakuten App is the app I use when purchasing big ticket Items. You can receive anywhere from 1 to 5 percent cash back. Download Honey and when you shop online and discounts will automatically be applied when you check out. Give the price comparison tool ShopSavvy a try! ShopSavvy allows you to use your smartphone to locate, research and buy products at the point of sale. With this app, scan a barcode or input a product name and it tells you where the item is sold either locally or online and at what price. Access before you even start shopping so you can find deals! This website helps you find and compare products at the cheapest price at many different stores and even tells you if the product is in stock. 

Finally, find ways to enjoy the things in life that are free: walking, riding bikes, hiking, kayaking or spending time with family and friends in your own backyard are great ways to enjoy life without spending money. 

As we Hello50 women look towards retirement, we all want to be comfortable and have the experiences we have worked all our lives to enjoy.  It’s never too late to take the small steps to make that happen. Just like any new habit – it will become part of your everyday routine and the rewards are endless!

Hello50 would love to hear your saving tips. Please go to, click on Ask Hello50 and share your ideas with the Hello50 community. You can also email us at

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