10 Practical Ways to Save $10 a Day

Delay Impulse Shopping

Two jars marked save and spend.
It's OK to spend, as long as you also remember to save. Andrew TB Tan / Getty Images

See something you have to have? Go home and think about it. Give yourself 24 hours to decide if you really have to have it. 72 hours is even better. I've saved myself hundreds of dollars this way, and you know what? My life is just as satisfying without those things that, at the time, I thought I just had to have.

Have fun with this rule — it's like the "time out" you use for kids. It helps put a pause in place when the impulse shopping urge kicks in. If you engage your friends and family they can even help call time out for you.

Seek Low Cost Substitutes

Three ladies at a driving range
Making small adjustments can make a big difference. Jonatan Fernstrom / Getty Images

If you're an avid book reader, try a trip to the library instead of the book store. If you're a golfer, substitute one tee time a week for a trip to the community driving range. The important thing is not to give up the things you like! Instead make small, occasional substitutions that will save a little bit here and there. The little things add up over time.

Skip the Favorite Store

Men walking by stores instead of shopping in them.
Stores want you to come in, take a day off every so often. Roetting / Pollex / LOOK-foto / Getty Images

Years ago I realized I spent hundreds of dollar each time I walked into WalMart. I cut my spending in half by allowing myself no more than one trip a month.

Whether it be Target, eBay, or the hobby store, next time you're tempted to stop in at your favorite store, just drive on by. Instead of shopping, go for a walk, grab a cup of coffee, or read a book. Or if it's online shopping get in the habit of watching a favorite music video instead of shopping. The key to making this money saving tip work is building a new habit to replace the old one. Trust me, it's more satisfying to watch the savings account build up than the momentary pleasure you get from buying stuff.

Downsize Where You Can

Business man standing next to a small car
Downsizing your life may have its limits, so be frugal and wise. Johner / Getty Images

In his book A New Earth, author Eckhart Tolle talks about our tendency to identify ourselves, and our self-worth, by our things. Well, you are not your things!

The sense of self-respect you get when you make smart financial decisions is worth far more than the ego-centric feeling of driving the fancy car and wearing the latest styles. Evaluate lifestyle changes you can make. It might be your house, your car, your clothes — whatever it is, downsize where you can. Being financially secure is sexy at any age.

Drive Less Often

Senior woman walking on a boardwalk instead of driving.
Not only is walking good for your health, it can also be very fun and enjoyable. Sollina Images / Getty Images

Carpool or use public transportation once a week, or more if you can. If you're still working ask if you can have one telecommuting day a week. Instead of lots of trips, consolidate your errand running and plan it for times when there is not a lot of traffic. Even better, consolidate and carpool all at once by running errands with a friend!

Scour Monthly Home Expenses

Man checking his electric bill.
Modifying your "creature comforts" can save money. Stacphane Ouzounoff / Getty Images

Do you really need call waiting, 3-way calling and all the other extras the phone company charges you for? Scour your phone bill and see if one or two of those extras can be turned off. Pay special attention to the cable bill. Extra channels can add up quickly when you're charged every month, year after year. 

In addition, turn up, or off, the air conditioning or heater during the day. Yeah, it's not quite so comfortable when you first get home, but the savings will add up.

Eat Out Less

High angle view of a packed lunch on a desk.
Planning ahead for lunch and snacks can save you money. Fuse / Getty Images

Take your lunch once in awhile. Before you head out for dinner, try a glance through the pantry first, and see what creative meal you can come up with at home.

If you have to eat out frequently, skip the sodas and ice teas. Drinking water is not only better for you, for some who eat lunch out every day, this simple substitution will save well over $30 a month.

Find and Use Discount Programs

Shopping cart on keyboard.
Skipping the "middle man" can reduce costs for everyday purchases. Steven Puetzer / Getty Images

With a little effort,​ you can pay 20 - 50% less for most of the things you buy. Like most things in life, time is money. If you're willing to put in the time, you can find discount codes and sales that save you money. It may take a little extra work, and quite a bit of patience, but remember, you're getting paid for your time to not shop retail with significant savings!

Warning — many people get lured into spending more because "it's on sale". This tactic is not to be used to buy things you don't need. It's a strategy where you plan out what you buy already, and find ways to get it for less.

Cancel Gym Memberships

Woman at home exercising to a workout video on TV.
Working out from home can save in many shapes and sizes. John Fedele / Getty Images

Health and fitness are priorities in my life and I believe everyone can benefit from regular exercise. So, if the only way you can commit to a fitness regime is through a gym membership, stick with it!

But if you're the self-motivated type, there are all kinds of fitness activities that don't require a monthly fee: walk, run, do yoga at home, buy a fitness video, do pushups, sit-ups, use exercise bands and a pair of dumbbells…

Make Your Hobby a Business

Man painting in art class
Alligning your passion with an entrepreneur can lead to tremendous friendships (and discounts) for doing what you enjoy. Hero Images / Getty Images

My sister loves arts and crafts. She can't walk into the bead store without spending a few hundred dollars. She started making jewelry and now she sells it. She doesn't make a lot of extra money, but she earns enough to cover the cost of her hobby.

Other money saving hobby ideas? As I mentioned, I'm into health and fitness. I used to teach an aerobics class on occasion in exchange for a free gym membership. When I was into horses, I worked a few hours a week at the barn in exchange for horseback riding lessons. 

Implement some of these money savings ideas now — and you'll be on your way down a path that leads to greater financial success!