If you’re looking to cut back on your expenses and create some breathing room in your budget, you’re not alone.
Sixty-three percent of Americans are living paycheck to paycheck, according to the CNBC and SurveyMonkey Quarterly Money Survey published in July. Of that group, 20% break even each month and 17% spend more than they make.
Earning more money isn’t feasible for everyone but trimming your expenses could provide some relief. While that might sound like a daunting task, there are many tools that can help.
CNBC Select picked the best strategies and products to help you make some extra space in your budget, including ways to cut back on small expenses and where to find extra cash.
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Use these tricks to make more room in your budgetShop for and switch your insurance
Insurance costs, including homeowners and auto insurance, have increased since 2021. Auto insurance costs jumped by 47.5% between 2021 and 2026, according to data from insurance comparison site The Zebra. Premiums jumped 64% between 2021 and the end of 2025, according to data from mortgage lender and servicer Newrez.
One of the best ways to combat these increasing costs is to shop around for coverage. That way, you can be certain that you’re getting the best deal on policies for homeowners, auto and renters insurance.
You can work with a broker — who can help you get quotes and policies from several different insurance companies — or comparison shop with insurers that offer quotes online.
If you’re going the DIY route, one product could be especially useful for auto insurance: Jerry, an AI-powered shopping tool, can give you quotes from dozens of insurers in just a few minutes and can alert you if it finds a lower price for you in the future.
- Highlights
Jerry is an AI tool that allows drivers to compare auto insurance policies from dozens of insurers in minutes. You’ll need to provide personal information, including your name, address, phone number and vehicle information, but it gives you estimated rates from many top insurers.
- Availability
Jerry is a licensed insurance agency in all 50 U.S. states and Washington, D.C.
If you haven’t done a thorough audit of all of your subscriptions recently, doing so could help you trim your expenses. After all, the average American adult spends about $21 per month on subscriptions they don’t use, according to a survey by technology publication CNET.
Several popular budgeting apps can spot subscriptions that may have fallen through the cracks. Rocket Money is one, and the premium version — which ranges from $7 to $14 per month in price — can also negotiate a refund on your behalf.
- Cost
The basic plan is free. Rocket Money Premium is $7 to $14 a month with a 7-day free trial. Bill negotiation services cost 35% to 60% of the first-year savings, if the negotiation is successful.
- Standout features
Easily cancel unwanted subscriptions, track your spending and credit score, automate savings and get help lowering bills. Rocket Money Premium includes additional services like net-worth tracking, credit reports and a subscription cancellation concierge service
- Security
Rocket Money accesses transaction data via an encrypted token, uses Plaid API so user credentials are never stored, provides bank-level 256-bit encryption and hosts servers on Amazon Web Services
- Availability
Offered online and on both the App Store (for iOS) and on Google Play (for Android)
While not every bill is negotiable, you may be able to get a better price on your home internet, phone plan, or other monthly bills simply by asking. For example, if you have credit card debt, it may be possible to ask for lower interest rates, which can, in turn, lower the amount of interest you’ll pay.
While it’s possible to find scripts and templates for these types of bill negotiation online, you can use a service to help. On top of being a comprehensive budgeting app, PocketGuard can help negotiate phone, internet and other bills for you to help lower your monthly expenses. PocketGuard does have a limited free version, but the paid version costs $12.99 per month.
Information about PocketGuard has been collected independently by CNBC Select and has not been reviewed or provided by PocketGuard prior to publication.
- Cost
Basic PocketGuard plan is free, while PocketGuard Plus subscription is $12.99 per month or $74.99 annually. Lifetime membership offer available at a reduced rate.
- Standout features
In My Pocket feature uses your income, recurring expenses and savings goals to determine how much you have for everyday spending.
- Categorizes your expenses
Yes, but users can customize
- Links to accounts
Yes, users can connect accounts through Plaid and Finicity to import data automatically or manually add cash accounts for tracking
- Availability
Offered in both the App Store (for iOS) and on Google Play (for Android)
- Security features
PocketGuard utilizes bank-level encryption, PINs and biometrics like Touch ID and Face ID
- Availability
Offered in both the App Store (for iOS) and on Google Play (for Android)
Similarly, Billshark can help with phone, wireless, internet and other utility bills, and boasts a 90% success rate. Instead of a flat fee, Billshark costs equal 40% of your savings, capped at two years of discounts or $9 per cancellation. If you don’t save, you don’t pay anything.
- Cost
40% of whatever savings you earn, $9 per canceled subscription
- Standout features
“Sharks” negotiate with phone, internet, cable, security and other providers for lower rates. Subscription cancellation service, “No savings, no fee” policy
- Categorizes your expenses
- Links to accounts
Not required; you create an account and upload your bills (as opposed to linking bank accounts)
- Availability
Available for iOS and Android
- Security features
Encrypted with bank-level security (256-bit encryption), doesn’t store credit card information or share data with third parties
Pros
- Doesn’t charge if agents aren’t able to find savings
- Claims a 90% success rate
- Negotiates for service credits during outages
- Earn Reward Dollars to use on dining, shopping, and travel
Cons
- Won’t negotiate credit cards, utilities or medical bills
- $9 fee per canceled subscription
- Mixed customer reviews
Switch to a no-fee checking or savings account
The average bank account maintenance fee is $13.51, according to a MoneyRates survey. Over the course of a year, that adds up to more than $162. But you can often avoid this by choosing from the dozens of no-fee bank account options.
The best no-fee checking accounts include free ATM access, low or no minimum balance requirements, and possibly interest. CNBC Select likes Alliant High-Rate Checking because it has no monthly maintenance fees or overdraft fees. It also includes ATM fee reimbursement of up to $20 per month and free access to 80,000 ATMs.
Alliant Credit Union High-Rate Checking
Alliant Credit Union is a Member NCUA.
- Monthly maintenance fee
- Minimum deposit to open
$25 when opening online or over the phone
- Minimum balance
- Annual Percentage Yield (APY)
0.25% with paperless and recurring monthly electronic deposit
- Free ATM network
80,000+ Alliant network ATMs
- ATM fee reimbursement
- Overdraft fee
- Mobile check deposit
Capital One 360 Performance Savings™
Capital One Bank is a Member FDIC.
- Annual Percentage Yield (APY)
- Minimum balance
- Monthly fee
- Maximum transactions
Up to 6 free withdrawals or transfers per statement cycle
- Excessive transactions fee
- Overdraft fee
- Offer checking account?
- Offer ATM card?
Yes, if have a Capital One checking account
Get a bank account welcome bonus
If you’re planning on opening a new bank account soon, taking advantage of a welcome bonus could help you get some extra cash. Bonuses can range from $25 to hundreds of dollars, though larger rewards tend to require larger deposits.
Typically, these bank account bonuses don’t require much work: You set up the account, make the required deposits or route your direct deposits to the account, and then get the bonus after a certain period of time. What’s more, some of the accounts also have no maintenance or service fees.
Opening a new SoFi Checking and Savings account could help you earn a *$50 cash bonus with a qualifying direct deposit of $1,000 to $4,999.99, or a $400 cash bonus with a direct deposit of at least $5,000. You’ll need to keep the account open for at least 14 days to qualify, but there are no account service or maintenance fees in the future.
SoFi Bank, N.A. is a Member FDIC.
SoFi Bank, N.A. is a Member FDIC.
Annual Percentage Yield (APY)
Sign-up bonus of $50 or $400
No account, service or maintenance fees for SoFi Checking and Savings.
No-fee overdraft protection
Overdraft Coverage is a feature automatically offered to SoFi Checking and Savings account holders who receive at least $1,000 or more in Eligible Direct Deposits within a rolling 31 calendar day period on a recurring basis.
*Click here for important disclaimers and disclosures.
Make sure to read the fine print before you start the process, since some offers require the money to stay in the account for a certain period or include other terms and conditions. Additionally, this money is typically considered taxable income at tax time.
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At CNBC Select, our mission is to provide our readers with high-quality service journalism and comprehensive consumer advice so they can make informed decisions with their money. Every personal finance review is based on rigorous reporting by our team of expert writers and editors with extensive knowledge of personal finance products. While CNBC Select earns a commission from affiliate partners on many offers and links, we create all our content without input from our commercial team or any outside third parties, and we pride ourselves on our journalistic standards and ethics.
*New and existing Checking and Savings members who have not previously enrolled in Direct Deposit with SoFi are eligible to earn a cash bonus of either $50 (with at least $1,000 total Eligible Direct Deposits received within 25 calendar days of your first Eligible Direct Deposit of $1 or more) OR $400 (with at least $5,000 total Eligible Direct Deposits received within 25 calendar days of your first Eligible Direct Deposit of $1 or more). Cash bonus amount will be based on the total amount of Eligible Direct Deposit received within 25 calendar days of your first Eligible Direct Deposit of $1 or more. If you have satisfied the Eligible Direct Deposit requirements but have not received a cash bonus in your Checking account, please contact us at 855-456-7634 with the details of your Eligible Direct Deposit. Direct Deposit Promotion begins on 5/15/2026 and will be available through 12/31/26. See full bonus and annual percentage yield (APY) terms at sofi.com/banking/checking-offer/
Editorial Note: Opinions, analyses, reviews or recommendations expressed in this article are those of the Select editorial staff’s alone, and have not been reviewed, approved or otherwise endorsed by any third party.