Life can be expensive and bills can add up, but it's never too late to start saving money. Click through our gallery to learn 40 money hacks that will save you a small fortune in later life.

They say life begins at 40 but it is never too early to start thinking about life after work. You may have a retirement plan already but cutting off income quickly and abruptly could leave you in trouble if any unexpected costs occur. Instead, think about ways to earn a little money to ease you into retirement – like a part-time shop job or helping out in the neighborhood.

So you may not be as technical in later life as your six-year-old grandchild but that doesn’t mean you can’t learn how to get the most from your money using free budgeting apps. On these apps, you set your income, your expenses and what you spend on luxury. This way, overspending is less likely to come back to haunt you.

The Simple Dollar advocates the use of the ’30 day rule' before making a substantial purchase. Yes you want it. But do you need it? Are you going to use it? After a month has passed, you may realize you didn't need to spend after all.

Companies don’t want to lose your custom so talking to them on livechat or on the phone could save money on your package deal, according to various money-saving websites. Ask for deals, threaten to leave and see how it goes.

Festivals, book tours, parks and museums…all hours of fun and all free! If you find yourself spending a small fortune on books to entertain the children for five minutes, pop to the local library each week to pick up new books for free.

Going shopping without a list of items to buy can be a recipe for overspending. Plan your meals and ingredients before heading out to the shops. Those carts are big for a reason!

It may seem obvious but supermarkets have their own brand of both essentials and luxury items. They can taste just as good, look just as good but come in at half the price or less.

If you need a tumble dryer or a fridge, it pays in the long run to spend a bit more and buy a well-known manufacturer. Buying a cheap appliance costs you more as you are more likely to have to replace it sooner or shell out for parts.

Broken clothes can often be repaired and made good as new with just a basic sewing machine. Learning to sew and/or use a sewing machine can save you money in the long run by repairing clothes instead of replacing them. Adding simple accessories can also breathe life into old clothes.

Emailing friends or calling them up on Skype (or even FaceTime or Whatsapp) can save you money on phone calls and means you can see your friends too.

A good tip to save money without too much effort is just cut back minimally each time you go out. This is more of a student hack, but it can easily be applied to anybody. The money saved soon adds up.

Instead of using a kiosk in a supermarket or an online provider, start printing your own photos at home to save a bit of cash. Once you’ve got a capable printer, paper can be purchased in bulk for low prices and ink cartridges can last months before needing replacing. In the meantime, you can print glossy photographs without having to pay photo shop prices.

Instead of meeting up for dinner with friends, hosting your own potluck meal can be a great way to socialize and save money at the same time.

Shop around before buying a new car or booking that dream holiday. Take the time to visit different showrooms or browse online for the cheapest deals before handing over your hard-earned cash.

This one may seem like it is for the children but making your own lunch at home and taking it to work with you can save you a fortune each year.

Made too much pasta? Defrosted too many chicken legs? Not to worry, just use the food for lunch the next day. Throwing food away is a common way of wasting money and easily avoidable.

Money-off or free product coupons are on the back on magazines, newspapers, cereal boxes and even booklets you can pick up in restaurants and supermarkets themselves. Signing up to websites means savings land in your inbox on a regular basis.

Signing up for loyalty cards in store or in the salon can reward you after a certain amount of money spent with free products or treatments. Since you’re spending the money anyway, it makes sense to have a reward card as a benefit to you.

Yes that gas station at the end of the road is near, but is it the cheapest? Online tools can tell you where the best prices near you are to be found. Just make sure you don't drive so far you're not making any savings.

Phone companies offer ‘free’ phones but stuck on a 24-month contract you could end up overpaying the price of the phone in the first place. By paying for a phone upfront and using prepaid SIMs you can save a bundle.

If you want to treat yourself to a new MacBook, be sure to check out refurbished machines that have been certified by Apple. They’re the same machine but are usually significantly cheaper. Windows machines are also available refurbished – Dell, for example, has its own outlet site.

Sometimes it just isn’t possible to avoid weather damage but it can save you money in the long run if your house is prepared for flooding, hurricanes or heavy snowfall. Go to your local hardware store for supplies and ask them for advice.

Satellite and digital television subscriptions often creep up and end up going unused. Why not rent a film as and when you want to watch one rather than paying hundreds a year for movie channels or streaming subscriptions you aren’t using?

If you live relatively near to a colleague, why not try out a carpool system? Save on gas by taking it in turns to drive to work and/or taking contributions from the other passengers.

Keeping your tires inflated at the optimum PSI means fuel consumption is as it should be and also increases your mileage per tank. This could save you big money as you're filling up less.

Unplugging infrequently used electronics reduces ‘phantom power’ being used by appliances plugged into power sockets. This could be the games console you use once every couple of months but leave plugged in which is increasing your household power usage unnecessarily.

Compact Florescent Lamps (CFLs) and Light Emitting Diodes (LEDs) use less energy and have a longer life than normal light bulbs.

Sometimes paying by direct debit each month can save money annually. Paying the water company or gas bill a little bit each month can often be cheaper over 12 months than paying two lump sums bi-annually or at the end of the year and also eliminate possibilities of late payment fees.

A way to run down the electricity bill is by getting into the habit of turning off the lights when you leave the room. And get the kids to get into this habit as well!

Having your insurance policies up to date is a good way to save money in the long run should you need them. But make sure you shop around for insurance quotes to find the cheapest deal for the best cover.

The folks at Good Financial Cents suggest that a handy tip for saving money is to have a ‘clean the pantry’ week. Food often ends up stuck at the back of shelves or stored away in the freezer. A ‘no shopping’ week encourages you to use the food that’s been confined to storage and stops you from buying a load more to just pack away,

As well as being a very unhealthy habit, smoking is expensive. It may be hard to quit but there are several benefits to kicking the habit even if you end up spending money on quitting aids in the short term.

Doing the laundry can be a drag but it doesn’t have to raise the bills too much. Using cold water to clean clothes is perfectly fine unless you’re washing something harboring germs such as cloth diapers.

This one is more money making! Unwanted gadgets? Fancy a new wardrobe and need the space? Online marketplaces such as eBay are growing in popularity and can be a simple way to make some extra cash.

There is a sale for almost every holiday or national day in America and across the world – take advantage of them. Sales are the best way to get good deals on expensive products from clothing to household goods. Buy in bulk during sales to maximise savings. Even if this does mean you are the person doing your Christmas shopping over Labor Day.

Gardening in your spare time can save you money in the long run as well as even make you some. Tomatoes, potatoes and carrots are all cheap and common seeds and all provide a lot of produce in one go. If you don’t want to sell the excess, you can store it for a later date.

A well-known supermarket trick for making people spend more is by making ‘attractive’ offers like two for the price of one. They only make financial sense if you're going to be able to eat them before their expiry period.

Credit and debit cards can often offer their customers cashback on certain products and purchases or for use of their card over a period of time. So you make some money back on your everyday spending, providing you pay off the balance in full each month.

By the same principle of one fewer drink each night out, one fewer restaurant a month can really help you save money. You probably won’t even notice staying in for one more evening but your bank balance will thank you for it.

Often the answer to ‘what’s for dinner?’ can become a takeaway or a trip out, both of which are much more expensive options than cooking at home. Plan what you’re going to have for each meal and get the food out where you can see it in anticipation.