9 Amazing Ways to Save $300 Every Month
- Save $300 a month with a few changes.
- Socialize at home more, and exercise outside instead of at the gym.
- Buy cheaper brands and shop expensive necessities like insurance.
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An extra $300 could go a long way toward paying down debt or building up a savings account. In fact, it’s the difference between making minimum payments and snowballing your way to financial freedom. What if you could hit the ground running, lower your debt, and stockpile some cash long before you need relief from credit card debt? We’ve covered nine ways to save $300 every month that are low-effort and quick to start.
1. Host a Game Night
Have your friends over to watch the big game instead of hitting the sports bar, or ask everyone to bring their favorite board games (snacks and drink donations are always appreciated).
You might want to try a potluck dinner, pizza night, a Bob Ross painting party, or a charcuterie party. The key is to have everyone chip in for supplies (or bring their own).
2. Cancel Your Gym Membership
If you’re a gym regular, keep it up and enjoy yourself! But if you don’t go to the gym at least three times a week, you may be wasting some money. Check out a local recreation center with a fitness room. These gyms can cost as little as $24 a month and might be half that price if you’re 50 or older.
Other low-cost ways to stay fit: Run outdoors or try some YouTube fitness videos. Like using work-out equipment? Your local recreational center or building’s on-premise gym might offer equipment for low fees, with discounts for veterans or seniors.
3. Empty Your Storage Unit
Reconsider paying for storage space you may not need. Monthly fees for a 10x10 storage unit average $128.
Evaluate what you need versus the “maybe we’ll use that someday” items. As you hold each item, ask yourself if it’s worth $1,500 per year? Whip up a garage sale or sell items through Facebook Marketplace. For online selling, try eBay or Poshmark.
4. Buy Generic
At the supermarket, store-brand groceries can cost 10% less than name-brand products. If you spend $100 a week on name-brand groceries, swapping for store brands is an easy way to save $40 per month or more. Check the label—chances are, the ingredients will be nearly identical.
Consider generic medications for your prescription drugs. The healthcare company Kaiser Permanente says generics are safe and generally 85% cheaper than brand-name drugs. When in doubt, check with your doctor.
Read more: 7 Ways to Save Money on Healthcare
5. Turn Off Auto-Renewals
Canceling your less-than-essential subscriptions means you stop paying for the services you rarely use.
Do a subscription cleanse a couple times a year. Sometimes, just the simple act of listing your subscriptions could motivate you to cancel a few. You could easily save $100 a year by unsubscribing from a single entertainment app.
6. Switch Cell Phone Plans
Scout different plans for the one that best fits your needs and possibly costs less. Some providers will give you discounts for switching or guarantee a lower price.
7. Call Your Insurance Company
Research any available discounts for having multiple policies with the same provider, aka bundling. Discounts of 10% to 25% are typical. Many insurers like Geico give additional discounts for multiple vehicles or enrolling in auto-pay.
If you have enough savings on hand to cover expenses for filing a claim, then consider raising the deductibles on your policies. Higher deductibles shrink the amount you pay monthly.
8. Set Up Automatic Transfers
Turn on automatic transfers to your savings account. Most banks let you set up automatic transfers. It’s not fancy, but it’s a good financial habit, and a great way to save money without much effort.
9. Bonus: Make Saving a Game With Friends
It’s not always easy to find ways to save $300 every month, but it gets easier when you spend time with like-minded people. Talk about saving and money issues with your friends—share your best tips, spur each other on, and celebrate the wins when someone pays off a credit card or comes up with a budget alternative.
Learn more: Ways to Save More Money
Debt relief by the numbers
We looked at a sample of data from Freedom Debt Relief of people seeking credit card debt relief during September 2025. This data reveals the diversity of individuals seeking help and provides insights into some of their key characteristics.
FICO scores and enrolled debt
Curious about the credit scores of those in debt relief? In September 2025, the average FICO score for people enrolling in a debt settlement program was 599, with an average enrolled debt of $26,046. For different age groups, the FICO scores varied. For instance, those aged 51-65 had an average FICO score of 597 and an enrolled debt of $28,324. The 18-25 age group had an average FICO score of 567 and an enrolled debt of $15,354. No matter your age or debt level, it's reassuring to know you're not alone. Taking the step to seek help can lead you towards a brighter financial future.
Collection accounts balances – average debt by selected states.
Collection debt is one example of consumers struggling to pay their bills. According to 2023, data from the Urban Institute, 26% of people had a debt in collection.
In September 2025, 30% of debt relief seekers had a collection balance. The average amount of open collection account debt was $3,203.
Here is a quick look at the top five states by average collection debt balance.
| State | % with collection balance | Avg. collection balance |
|---|---|---|
| District of Columbia | 23 | $4,899 |
| Montana | 24 | $4,481 |
| Kansas | 32 | $4,468 |
| Nevada | 32 | $4,328 |
| Idaho | 27 | $4,305 |
The statistics are based on all debt relief seekers with a collection account balance over $0.
If you’re facing similar challenges, remember you’re not alone. Seeking help is a good first step to managing your debt.
Support for a Brighter Future
No matter your age, FICO score, or debt level, seeking debt relief can provide the support you need. Take control of your financial future by taking the first step today.
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Author Information
Written by
Cole Tretheway
Cole is a freelance writer. He’s written hundreds of useful articles on money for personal finance publications like The Motley Fool Money. He breaks down complicated topics, like how credit cards work and which brokerage apps are the best, so that they’re easy to understand.
Reviewed by
Kailey Hagen
Kailey is a CERTIFIED FINANCIAL PLANNER® Professional and has been writing about finance, including credit cards, banking, insurance, and retirement, since 2013. Her advice has been featured in major personal finance publications.
Can a budget app help me save money?
Yes, budget apps could help you save money by helping you create a budget and track your spending and income. Popular budget apps include Goodbudget, PocketGuard, EveryDollar, MoLO, and YNAB.
Are there coupon apps?
Yes, there are many free apps and browser extensions that serve as online coupon clippers and help you apply the biggest available discounts to applicable purchases. Many of these apps provide promo codes you can add at checkout for a discount, and some also help you accrue points and rewards for shopping with participating retailers. Among the most popular coupon apps are Dosh, Honey, Ibotta, ShopKick, and Rakuten.
Is there an app for investing small amounts?
Yes, there are apps for investing small amounts. The Acorns app, for example, lets you invest small amounts into a portfolio of exchange-traded funds (ETFs). Acorns rounds up your purchases to the next dollar if you use a linked account, debit card, or credit card and invests the digital spare change. Another investing app, Stash, also lets you invest in fractional amounts of shares for as little as $1 and offers a round-up feature when you use its StockBack card.
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