12 Realistic Ways for Military Families (and Everyone!) to Save

You’ve probably seen social media posts that say something like, “Why does it cost $100 just to wake up every day?” 

That may be an exaggeration, but when you’re raising a family, everything is expensive. From rent/mortgage to children’s activities to groceries and gas, it can feel very costly just to manage the necessities of daily life without even adding in any extra fun activities or trying to tackle any savings goals. 

Military Saves Week focuses on helping military families prepare for financial success, but these tips can apply to anyone, whether you’re actively serving, transitioning to civilian life, or a non-military member looking for ways to stretch earnings farther. 

1. Review your Subscriptions. 

The average American spends $86 a month on subscriptions, and almost everyone underestimates their total subscription spend. Take a minute to look at your financial statements and audit your subscriptions. 

Are there any you don’t need or rarely use? Even canceling one unused $10 subscription could put $120 back in your pocket for the year - enough to take the family out for a dinner or to plan a special splurge. 

2. Consider Before Paying for Convenience. 

Sometimes paying for convenience isn’t actually worth it. The costs of ordering a delivery meal or delivery groceries can far outweigh the benefits. During the time you have to wait for delivery, you could have easily made a simple comfort meal at home. 

We’re not underestimating the convenience of having something easy and ready to eat when you need it - instead, we’re suggesting that you stock your freezer with a few convenient, tasty items that feel like a treat to you, so you can pop them in the oven without a lot of hassle and save all those delivery app fees, tips and inflated prices. 

3. Compare Military Discounts to Actual Prices. 

If you receive a military discount, it can still make sense to do some price shopping. Compare on-base pricing to pricing from other stores. Digital shopping apps can make it easier to explore options and find the best prices for your situation. 

4. Negotiate your Bills. 

Some costs are non-negotiable. However, you’d be surprised at how easy it can be to get a discount or a rate reduction on services like internet or mobile phone. 

Call your provider and ask if there’s a promo or loyalty discount. You may also mention your military service or your veteran status when asking if there’s a lower rate available. 

5.  Cook Once. Eat Twice. 

Making a double batch of a meal you enjoy means you can easily have dinner on the table twice in one week, or that you can freeze the second batch and pull it out later when you need a low-energy, low-prep meal.  

6. Take Advantage of Cash Back. 

If you have a debit or credit card that rewards you, make sure you’re using it to max out your earnings. For example, the Kasasa Cash Back debit card pays you 3% cash back on purchases, while you can earn points on credit card purchases when you use the Titanium Rewards credit card (up to 3x on gas paid at the pump and groceries!). 

7. Take a Spending Pause. 

Choose one short time period where you spend only on essentials. You could start with as little as a day or as much as a week or a month. Track what you wanted to buy but skipped, then reflect on whether you missed it.

8. Watch for Bank Fees. 

If you use another financial institution, you may be getting charged for ATM transactions or may be paying monthly maintenance fees for your checking account. Check to see what’s going out of your account and whether a no-monthly maintenance fee checking account from Andrews Federal might be a better option. 

9. Use your Local Library. 

Libraries are one of the best places on the planet to find free education, entertainment and more. In addition to books, you can also access movies, magazines, audiobooks, activities and more - many of which you can access digitally without needing to visit the library in person. 

Some libraries may even offer passes to local museums or parks, which can save you money while being a tourist in your own city! 

10. Lower the Temperature.  

In the winter, lowering by just 2 degrees can save you up to 10 percent on heating costs without major discomfort. Those savings add up over time without having a huge impact on the way you conduct daily activities. 

11. Tap into Free Support Resources. 

Educate yourself on spending, money management and more. Andrews Federal offers free financial workshops around mortgage, fraud, credit card use and other topics, and we also partner with Greenpath Financial Solutions to offer free seminars on saving, budgeting and more.

12. Save Small. Save Consistently. 

Even if it’s small, setting aside savings consistently leads to better saving habits.  Automate $10 a week if that feels manageable to you. 

While it’s great to build an emergency fund, it can also feel a little more exciting to save for other things. Try multi-tasking your savings by automating transfers to several different accounts. For example, you could have a set amount going to your emergency fund while also automating $20 a month to your holiday shopping budget. If you do that all year, once you get to December, you’ll have $240 ready to spend without affecting your monthly budget. 

Need more guidance on saving? Military Saves offers resources and tools for military service members and families to increase their savings and prepare for the future.