If you’re looking to increase your savings so that you can reach your Financial Independence goal sooner, there are a number of simple things that you can do. You don’t need to be a financial expert or live on the streets of San Francisco (though I’m sure that would do wonders for your wallet). In fact, most people could easily make these changes in their everyday lives and see some results in as little as 6 months. So let’s jump right into them:

Set yourself a savings goal.

There are many ways to save money and achieve your financial goals, but the most important thing is that you set one that’s achievable in the short term and long term. If you’re looking at building up a substantial amount of money over the next few years (for example, paying off student loans or saving for retirement), it’s important to make sure that this amount is realistic for where you are today. It’s also important not to get so caught up with saving every penny that it becomes difficult or impossible for other aspects of life like eating out or going out for dinner once in awhile!

Create your own spending rules.

You can use your budget to create spending rules. These are the guidelines for how you spend money and what you can do to save it. Make a list of the things that you spend money on and find ways to cut back on those expenses so that there’s more left over at the end of each month. For example, if you spend $100 per month eating out, try to find ways to cut back on that expense by cooking at home and packing a lunch.

Start with the small things.

You can save more than you think by making simple changes to your lifestyle. There are so many ways to do that, but it’s important to start with the small things. Remember the first law of holes: “If you find yourself in a hole, stop digging.” Here are some ideas:

  • Go for a cheaper gym membership instead of paying full price at your usual place (if you can find one!).
  • Buy generic brands instead of name brands when possible—they may be just as good but come in different quantities and therefore cost less per item!
  • Use public transport instead of driving everywhere, especially if parking is expensive or hard to find nearby places like work/school where people might not even know where they parked their cars! Instead of driving everywhere though perhaps consider walking instead? It’s fun too. And don’t forget about bicycles which can also help reduce emissions into atmosphere since they’re carbon-neutral machines after all :)
  • Look for a cheaper cell phone plan. If you are a smartphone user then there are plenty of ways to reduce your monthly cell phone bill. Try looking for prepaid plans or cheaper plans with fewer minutes, text messages and data (if you don’t use it). You might even want to consider switching over to a family plan since they tend to be slightly cheaper than individual ones while still giving each person the same amount of minutes and texts per month.
  • Cancel your cable subscription. Cable TV can be very expensive and the cost of the service doesn’t seem to be going down anytime soon. If you are looking for cheaper entertainment options then consider switching over to streaming services instead. You don’t have to watch everything on a big screen anymore, so why not save some money by using your laptop or tablet? Head over to Netflix, Hulu Plus, Amazon Prime Video and other similar services for all of your entertainment needs! More and more people are doing just that!
  • Look for ways to lower your electricity bill, especially if you live in areas where power is expensive (like California). Try turning off lights when they’re not needed as well as appliances that consume a lot of energy like computers and televisions. If you want to be extra eco-conscious then consider installing solar panels on your roof so you can use the sun’s energy instead of relying on the power company!
  • Reduce the cost of your morning coffee by buying a cheaper brand (and avoid the overpriced coffee shops)

Don’t borrow from your future for increased consumption today

Don’t buy things you can’t afford. If you want to save money, the one thing you need to avoid is borrowing from your future self and then spending it on things today! After all it’s your future self’s problem on paying the debt off, right? Well, no! That’s how you got into your current situation. It’s finally time to take ownership and change that! It’s a lot easier to spend money than it is to earn it. And that’s why so many people do it. They buy their way into the things they want today, instead of working hard and saving for them in the future. But what happens when those things you bought start breaking down? You have to replace them or repair them—and then either way, you still have no savings!

Choose one day a week to ‘fast’ from spending.

One of the best ways to increase your savings is to take one day a week and ‘fast’ from spending. This means that you don’t buy anything, or do any unnecessary shopping. Instead, you save up the money you would have spent on shopping or other expenses and add that to your savings.

If you make the choice not to spend any money one day per week, then it will be much easier for you to save up over time.

Shop around for the best deals on services and supplies.

Shopping around for the best deals on services and supplies is a great way to save money. For example, if you’re looking to get rid of your cable or internet service, using a price comparison site will help you find the best deal available. If you want to reduce your energy bills and switch to an eco-friendly heating system, then shopping around for the best deals on heating systems is a great way to save money. The more you shop around, the more likely you’ll find better prices than if you had only looked at one company or product.

If there’s something that needs replacing but isn’t too expensive (like an old car), don’t be afraid to ask friends or family members if they know anyone who could help out with repairs—you might even be able to score some free labor!

Avoid credit card debt

Don’t use credit cards. Or if you do, be smart about it. Use credit cards not because you don’t have money, but because you want to earn rewards or cash back for essential spending (Eg: if your land lord allows you to pay your rent by credit card, utilities, grocery bills and so on).

Avoiding credit card debt is critical. Credit cards are expensive, and they can be hard to get out of. If you owe too much on your credit card balance, it may affect your credit rating negatively and make it harder for you to save money in the future.

Before spending remember that you need to pay off your credit card bills in full every month. If you don’t have the money, then don’t buy it. It’s simple.


There you have it! As you can see, saving money isn’t as complicated as people make it out to be. These are just some of the tips and tricks that you can use to accelerate your Financial Independence journey. Check out the website today for more articles on reaching your FIRE goal faster!