4 things millionaires save

If you want to save money, you're bound to make some sacrifices, big and small. For starters, here are four basic things to do,CNBCLearn from self-made millionaires, early retirees, and "super savers."

Cut down on living space

Financial blogger Matt and his fiancée were on a tight budget in 2016. The Chicago-based couple tried a variety of strategies to increase their savings, and they concluded that cutting housing costs was the most effective solution.

"We live in a neighborhood where most of our neighbors spend a higher percentage of their income on rent. Of course we could pay that much for a two-bedroom, two-bathroom, but we're happy with our current decision,"Matt said.

Specifically, the couple chose to rent an apartment of only 65 m². As a result, they pay 15% less rent than their neighbors, saving them $1,000 a month, or $12,000 a year.

Cook your own lunch

Scott Alan Turner paid off $70,000 in debt and became a millionaire by age 35. His top money-saving tip is simple: pack your lunch to work. He says eating out can cost hundreds and even thousands of dollars a month if you’re not careful.

"The biggest saving tip I learned was from my parents. My dad worked in town his whole life. He brought his lunch to work every day. In that small town, we didn't have restaurants and we never ate out,"Scott said.

When he went to work, Scott diligently maintained his father's habit of bringing his own lunch to work for 10 years. He even cooked on Sundays and ate it throughout the following week.

Don't spend like others

Spending money the way your friends or neighbors usually do will make you feel satisfied and not at a disadvantage, but it will also be very expensive. Usually, spending money on clothes, technology or even cars to "keep up with friends" only brings temporary joy but not long-term happiness if your financial ability is not abundant.

"Question the things you spend your money on. Just because your friends are spending money on expensive clothes doesn't mean you should. Don't waste money on things that don't really matter to you," advises readers on the personal finance blog "The Money Wizard."

Reduce spending on vehicles

Expensive cars are not a good choice if you are in a budget phase. Instead, choose cars that are affordable and fuel-efficient.

There are other ways to cut down on transportation costs. You can split gas costs with a co-worker or neighbor if you both need to carpool to work. If you live in an area with good public transportation, consider using public transportation a few days a week. Of course, this won’t save you time, but it will save you money.

Finally, if you live just a few miles from work, consider buying a bike. Investing in a bike can pay for itself in just a few months in gas savings. Trent Hamm, author of “The Simple Dollar,” says Americans can save $6,000 a year by leaving their cars at home and cycling to work regularly. Plus, cycling is a great way to stay fit.