How to Save $500 Per Month

Saving $500 per month is very doable, even on a tight budget, or on a one-income family. To save $500 each month requires intentionality, discipline, and some temporary sacrifice, not extreme deprivation. Here’s a practical, realistic plan you can tailor to your life.

Step 1: Make $500 Feel Smaller

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Instead of thinking of saving “$500 a month” (which can feel unreachable some months), focus on saving $125 a week or $16–17 a day. That framing alone helps the idea of saving money much more attainable. Small, consistent amounts add up faster than you think when you stay committed. It also makes it easier to adjust on tighter days without giving up entirely. Progress matters more than perfection when it comes to building savings.

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Step 2: Audit Leaks from Streaming Services ($50)

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Monthly subscriptions add up fast! Streaming services aren’t an arm and a leg, but many people end up paying for multiple subscriptions which can be a huge leak in your bank account. Go through your bank statements and cancel or pause streaming services. You don’t have to say goodbye to your favorite streaming service forever, just for a while to help get out of any debts or help towards your saving goals. I recommend Amazon Prime Video as a streaming service because as a Prime member, you already get benefits like free shipping, streaming music, Grubhub+, unlimited photo storage, etc. That means you can still enjoy movies and TV shows without paying for an extra streaming subscription.

Cost of Subscriptions with Ads:

(these prices are as of January 2026)

Netflix: $7.99/month
Disney+ & Hulu: $12.99/month
HBO Max (now Max): $10.99/month
Peacock: $10.99/month
Paramount+: $8.99/month

For five streaming services, the cost is $52 a month! By canceling our pausing streaming services, you could save anywhere from $8 to $52 a month.

Step 3: Audit Convenience Spending ($50–$100)

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I am guilty of indulging in trips to Starbucks. There I am reloading my Starbucks balance in the drive thru to guarantee extra stars in hopes for a future free drink. The smallest reload amount is $10, which often is more than the amount I was short on. I see what you are doing Starbucks. A Starbucks trip for myself and my husband (on occasion some mayday snacks for the kids) can cost anywhere from $10 to $25. If we go to Starbucks just four times a month (we usually go after church on Sundays) that can cost us at least $60!

Instead of going out to Starbucks, or your favorite local coffee shop, make your own coffee at home! We have the Keurig K-Duo Single Serve & Carafe Coffee Maker and the Staresso Portable Espresso Maker. I have had this espresso maker since 2021 and it has served me well! I don’t have space for an expensive espresso machine, so I love using this espresso maker. Making our coffee at home instead of buying it out every day can save us upwards of $100 a month!

Also this might be a pain point for some, but as much as possible, no more take out! Or at least cut back on take out. It is no secret that fast food and restaurant prices have steadily increased over the last few years. On the low end, if we drive through In n Out, that can cost us $28 on average. If we ate at In n Out just four times a month, that would cost us $112! Imagine how many groceries we could buy with that!

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Step 4: Strategize Grocery Shopping ($100–$150)

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Once our twins were born in 2023, I realized I did not have the physical/mental energy or desire to go grocery shopping with two babies. We discovered the Albertson’s grocery app and subscribed to FreshPass (cost is $99/yr). Since 2023 we have loved shopping on the app, and it has saved us lots of time and money. In fact, the app quantifies your lifetime savings. We have saved $2385.64 (that’s $1,192.82 saved each year!) and 220.42 hours of physical shopping. Plus we have gotten lots of coupons, $5 monthly credit ($60/yr), points to cash conversion rewards, and even freebies by being FreshPass holders.

FreshPass Benefits:

Unlimited free delivery on orders over $30
$5 monthly credit for annual subscribers
Earn 2x rewards points on exclusive brands
Save 5% on Organics brand and Open Nature brand foods
Receive exclusive offers and discounts from Albertson’s partners
Save 5% on Signature Pet Care
Reward points don't expire
Monthly exclusive Starbucks perks
VIP Phone Line (I haven’t needed this service, I can use the chat feature if I need assistance)

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We strategize our grocery shopping by creating a weekly meal plan, and shopping the deals. For our family of 5, we try to spend around $100-$150 a week on groceries. There have been times where we buy non-essentials (chocolate for me 😉, ice cream, snacks, sparkling water, etc.) and that can quickly eat into our budget. Not shopping physically in the store has also helped me from impulse shopping. Every item I put in my “online cart” will display the price so I am always aware of my total, whereas if I am in store and adding things in my cart, I am not cognizant of how much I am spending.

I understand that not everyone has an Albertson’s nearby and can’t use their grocery app, but it is worth spending some time researching grocery stores that have similar benefits. If you can strategize your grocery list and cut down groceries by $35 a week, that can save $140/month!

Another way to benefit off of your shopping is through the Fetch app! Turn basically anything you do into gift cards with Fetch. Earn points at stores, restaurants and online shopping by simply taking a picture of your receipt or connecting your email for digital receipts. Download Fetch with my link or use code JGUGX to get a bonus when you scan your first receipt. I have redeemed my points for gift cards to Amazon and Starbucks. They have lots of retail/dining options to choose from!

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Step 5: Automate Savings ($100+)

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Automating your savings is one of the simplest and most effective ways to actually stick to your goals. When money is automatically transferred to savings, you remove the temptation to spend it and the pressure of having to remember to save each month. It turns saving into a habit rather than a decision you have to keep making. Even small, consistent amounts add up over time with a high yield savings account. Automation helps you stay steady and disciplined, especially during busy seasons of life. By paying yourself first, you’re building financial security in the background without it feeling overwhelming or restrictive.

Set up automatic transfers right after income hits:

Save $100 to $250 every paycheck (if paid biweekly)
Or $50 to $125 weekly

Where to put it:

High-yield savings account (out of sight)

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Step 6: Fill the gap with Small Income Boosts ($100–$200)

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Go through your home and declutter items you no longer use—clothes, shoes, kids’ items, toys, home decor, and small appliances can all sell quickly on platforms like Facebook Marketplace, OfferUp, Poshmark, or local resale groups. You can also flip items by picking up gently used pieces from thrift stores or clearance sections and reselling them online for a small profit. Consistently listing a few items each week can add up fast, and for many people, this extra $200 can go straight toward savings, debt payoff, or breathing room in the budget.

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Become an Amazon Affiliate and promote your favorite items on Pinterest/blog posts
Sell digital products (printable, template, checklist)
Sell unused baby/kid items monthly
Sell household goods, plants, equipment on OfferUp

Even $25/week = $100/month.

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