How New Jerseyans Can Save Money in 2023

A financial advisor weighs in on getting more bang for your buck.

Person putting folded up $100 bill into piggy bank
Here are a few practical tips for Garden State residents. Photo: Shutterstock/Pickadook

It may sound like an oxymoron, but there are some ways to save while living in New Jersey.

We asked Roger Moss, an advisor with the Montville Financial Group, how Garden State residents can keep a little more of their hard-earned green.

If you want to elicit a shiver out of a New Jersey homeowner, all you have to do is say the words “property taxes.” Is there any way homeowners can catch  break?
 The ANCHOR program, which last year replaced the Homestead Rebate, offers $1,500 for homeowners and $400 for renters. This year, it’s based on 2020 data and subject to income limits. For more information, go to

For many of us, the second greatest expense we’ll incur (after buying a home) is our kids’ college education (and the way things are going, the cost of a college education could someday surpass that of a typical starter home). Is there a way for New Jersey residents to cut those costs?
New Jersey just upped its game on saving for college. Now, if you open a New Jersey 529 College Savings Plan, there are significant benefits. Families with an annual income under $75,000 can get a match up to $750 on their first contribution. Those with incomes under $200,000 can deduct up to $10,000 per year on their state taxes, and if their child goes to school in New Jersey, he or she will receive a $3,000 scholarship. The best part is that the money grows tax free if used for education.

The cost of driving to the Shore is likely to remain high for quite a while. Other than staying home and cranking up the air conditioning, is there any way to counter that expense?
Choose your favorite Shore town and stick with it. Many beach towns offer season passes, even for nonresidents. I frequent Seven Presidents Beach in Long Branch, and by purchasing a season pass, I save around $200 every summer. But don’t dawdle: Those passes sell out fast.

Looking for ways to save on entertainment and fun in New Jersey? Check out our list of free and discounted arts happenings, plus top-notch spa deals and the best thrift and consignment stores.

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