13 Ways To Save Money Right Now, According to George Kamel
13 Ways To Save Money Right Now, According to George Kamel
Ashley Donohoe Thu, August 7, 2025 GOBankingRates
A May 2025 McKinsey & Company survey found that inflation and tariffs topped the list of concerns for Americans, with 32% of respondents having changed their spending and another 31% planning to.
Whether you need to save money out of necessity or just want to progress more quickly toward a goal, you can do so without giving up the essentials or living an extremely frugal life.
In a recent YouTube video, money expert George Kamel discussed many creative and simple ways to cut costs. Think about which of these strategies might work for you.
Find a Roommate
While you could move to a cheaper place, finding a roommate is an easier cost-saving option. Between splitting the rent and utilities, you could save several thousand dollars each year, with the catch being that you give up some privacy.
Kamel suggested carefully vetting your potential roommate to find a responsible match.
Get Rid of Private Mortgage Insurance
If you bought your house with a conventional mortgage with a low down payment and now have at least 20% equity, you can contact your lender to see if you can stop paying for private mortgage insurance (PMI).
Fannie Mae noted that the typical cost is around 0.58% to 1.86% of your loan amount each year, so you could see significant savings in your mortgage payment.
Bundle Your Utilities
Kamel suggested bundling services through one provider for potential savings. For example, major cable TV companies like Xfinity and Spectrum offer internet, home phone and cellular services in packages. It’s also worth shopping around with a competitor if you already have a bundle that has become more expensive after your promo period expired.
Set Up Automatic Payments
Not only does using autopay help you avoid the costs of late payments, but your provider might even offer a small discount. You’ll often find this perk available for insurance premiums, utility bills and certain loan payments. Just make sure to have the funds available when the payment is due.
Be More Energy-Efficient
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