10 Ways To Add Money Back To Your Wallet

10 Ways To Add Money Back To Your Wallet

Add $20K-30K Back to Your Wallet

It’s all too common. We make more money only to spend more. Sometimes it takes months or even years to realize that we are living on the edge. One mishap such as a medical emergency or loss of a job, is all it takes to bring us back to reality. In addition, the added expenses prevent us from saving for now and in the future. 

Most of us need to act fast before we get ourselves into financial trouble. If this sounds like you, use the list below to add money back to your wallet. Use the money for savings, retirement, investments or paying down debt.


1. Quit smoking. I know. This one is easier said than done, but there are many resources now to help you quit. Just think of what you could do with an extra $7-12 per day? Yearly savings: $2555 – $4380

2. Pack your lunch. The amount of money spent on lunch can easily add up. A few extra moments in the morning can save you a lot of money. Yearly savings: $2500

3. Get rid of cable.  The options here are plenty. In fact, video streaming has become a very popular and low-cost alternative to cable services. All you need is internet. Yearly Savings: $1800

4. Understand Your Auto Policy Take some time to understand the details of your policy. Compare the options within your policy to your state’s laws. When I finally sat down and did this, I realized I had coverage that I either didn’t need or wasn’t required by the state. Yearly savings: $1080

5. Shop around for car insurance. In addition to researching the details within your policy, consider shopping around for quotes from other auto insurance companies. I was shocked by the difference in prices for the same coverage. Yearly Savings: $550

10 Ways to add Money back to your Wallet


6. Refinance your auto loan. Keeping with savings related to your auto, shop around for a lower interest rate on your auto loan. This is especially important if your credit score has  increased since you originally purchased your vehicle. Capital One has a prequalification site to help you gauge what your new rate would be without a hard inquiry. To save in the long term, do not extend the terms of the loan. If you only have 3 years remaining on your auto loan, refinance with a three year loan. Yearly savings: $1200

7. Eat at home.  Yes. It’s true. Americans love to dine out. I’m not sure if this is due to laziness or really good food. According to the Bureau of Labor and Statistics, the average household spent $3,008 in 2015 on restaurants & take-out.

8. Switch cell phone providers. Did you know you can go from paying $140 month to $50 month for the same exact plan? It’s true. Switching to another cell phone provider can save you tons of money. Yearly savings: $1080

9. Get rid of unused memberships. If you are paying a monthly fee for a gym membership, recreation, etc., but haven’t been there since you signed up, get rid of it. You are essentially throwing money away. Purchase exercise videos or play basketball at the local playground to save money.  Yearly savings: $480

10. Set limits for your children.  Parents know all too well that this category can quickly add up. Budget a small amount each month for your younger children’s activities. If your children are grown, set a monthly or yearly limit for how much you help them financially. Yearly Savings: $5,000 – $20,00

Commit to changing the way you spend money

As you see, there are many ways to add money back to your wallet to help you save. So what happens when you reevaluate where all of your money goes? If we add up each category here, that is an approximate yearly savings of $20,000 – $35,000!

I can think of many more ways to save. Feel free to comment with some of the ways you were able to save and add money back to your wallet. 

See Also: 3 Steps To Get Your Personal Finances In Order.

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4 thoughts on “10 Ways To Add Money Back To Your Wallet”

  1. Thanks for the great info! Keeping track of your money and budget like this is so important. Thanks again 🙂

    1. Thanks Michelle! Yes. I had to start setting limits for my kiddies as well.

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