5 lifestyle changes to save more money

Staying fit can benefit more than just your waistline. Good health can also bring more wealth your way by helping you save money. Getting personally and financially fit can be similar. Your calorie intake is comparable to your spending. Eat fewer calories than you use, and you lose weight. Spend less than you make, and you save.

Making certain lifestyle changes that can save you money could be a smart move if you’re working toward a financial goal, like saving up for retirement, planning for a large purchase, building up your emergency fund or cutting back on spending. You can set aside any extra cash you save from getting healthy for the future.

But does that mean you have to completely overhaul your daily routine? Not at all. Here are four lifestyle changes to save more money that are easy to do right now:

Exercising can lead to better health, and it’s one of the easiest lifestyle changes to make if you want to save more money.

Kelan Kline, who co-founded a personal finance blog with his wife, set a goal to lose 40 pounds by the beginning of the following summer. To merge his passion for frugality with a desire to stay fit, he aimed to lose weight while spending as little money as possible.

Instead of paying for a monthly gym membership at a private club, he and his wife got a yearly membership to the gym at their local college for just $45. They also turned to the great outdoors to bike, swim, hike and walk to stay active.

Getting in shape doesn’t have to cost a fortune. “The beauty of working out is you can literally do it anywhere,” Kline says. 

Dining out can significantly impact your budget. Beyond the cost, frequenting restaurants can make it harder to maintain healthy eating habits if you aren’t mindful of your choices.

Anna Dunn Tabke, principal at an investment firm, recommends meal planning when making lifestyle changes that will save you money. It can take some getting used to, she says, but it’s worth it—both for your health and your finances.

“When we started meal planning, it would take us over an hour on Sunday to go through cookbooks and pick meals,” she says. “Now that we’ve been doing it for a few months, it only takes us 10 to 20 minutes and has saved us about 10% off our monthly grocery bill.”

If you’re spending $200 a month eating out, cooking at home can be a great way to save money without drastically changing your lifestyle. If you were to eliminate such spending entirely, you would have another $2,400 a year that you could funnel into a retirement account, emergency fund or high interest rate savings account, for example. Even if you were to cut back on meals by a third, that would free up $800 a year for your savings.

Those savings can add up over time, giving you more money to put toward the goals that matter most. To help your savings grow even more, consider opening a 360 Performance Savings account with a competitive rate.

Cooking at home is a cost-effective lifestyle change, but to reap the most health benefits it’s important to choose the right ingredients. That means steering clear of processed foods in favor of fresh alternatives. The assumption that going organic means going broke isn’t necessarily the case.

“A lot of people think that eating healthy costs a bunch of money,” Kline says. “The reality is you can eat well on a budget.” Reports have found that while some organic items may be more expensive, others may be priced the same or less than their non-organic counterparts. It all hinges on what you buy, where you shop and what’s on sale at any given time.

Clardie says if you’re looking for a healthy lifestyle change that will save you money, it’s all about choices. That might mean splurging for organic versions of produce that is otherwise sprayed heavily with chemicals. This list includes celery, peaches, strawberries, apples, nectarines, sweet bell peppers, spinach, cherries and grapes.

Many non-organic (and less expensive) versions of produce have little or no trace of pesticides, so they’re safe to consume even when not grown organically. This list includes onions, avocados, mangos, cabbage, eggplant and grapefruit.

Eating fresh—and tracking your calories while you’re at it—are two relatively low-key lifestyle changes that will save you money and give your health a boost.

Some lifestyle changes to save more money may be easier to make if you take advantage of the health benefits your employer offers, like a workplace health and wellness program.

Wellness programs are designed to offer workers incentives to get and stay healthy. Yours might feature benefits like a discounted gym membership, rewards for reaching certain health goals, and plans to help you quit smoking or lose weight.

A Health Savings Account (HSA) is another savings tool worth considering if you’re looking for ways to save more money. Available to people enrolled in eligible high-deductible health plans, an HSA lets you set aside money for qualified medical expenses while offering tax advantages. You can use the funds for eligible healthcare costs now or save them for future expenses.

You can save up to a certain amount in an HSA if you have individual coverage, or more if you have family coverage. You can then use those funds to pay for medical expenses as the need arises. Unlike a Flexible Spending Account (FSA), which is a workplace benefit that generally requires you to use the money within a set time frame, the money in an HSA rolls over from year to year. HSA contributions may also be tax deductible, which can reduce your taxable income and potentially lower your tax bill or increase your refund.

If your lifestyle changes keep you healthy, your HSA can double as a retirement account down the line. After age 65, you can withdraw this money without penalty for any reason. You’ll just pay income tax on withdrawals that aren’t used for healthcare.

Small lifestyle changes to save more money can have a lasting impact on both your health and your finances. You don’t have to make every change at once. Starting with one or two simple adjustments can help you build healthier habits and increase your savings over time. For example:

• Look for low-cost ways to stay active, such as walking, biking or using community fitness programs. 

• Plan meals ahead and cook at home to spend less on food while eating healthier. 

• Review your workplace benefits to see if wellness programs or other savings opportunities are available.

Your goals don’t have to rely on major lifestyle changes to save more money. With a little time and patience, the money you save from healthier choices can continue to support your future plans.

Choosing a savings account with a competitive rate, like the 360 Performance Savings account, can help your money grow over time and make those savings work harder for you.