Have you found yourself stressing out about ways to increase your savings account? If you are trying to come up with ways to save extra money on a monthly basis and feel like you are not seeing any positive movement in that direction then keep on reading. We’ve got some ideas to help you start saving!
If you have found yourself at a stopping point in thinking of more ways to increase your savings, take a step back and process. Look at how much you have saved thus far.
Ask yourself; what worked for you, what didn’t? Do you prefer to set savings goals or are you more of the “wing it” type? Whatever suites you best in ways to save money is where you should focus your efforts.
Look at the year and break it down monthly. Don’t think of saving money in such a broad and wide term. Think of it in terms of what you are wanting to save each and every week or month.
By breaking it down into a more simple and realistic goal, you may find that it is more achievable and less stressful for you! Saving money doesn’t have to be hard. There are simple things you can do to make it easier to save.
Let’s give you a few easy options to consider to get you started.
Here Are 5 Ways To Save Money Each Month
Give yourself a daily or a weekly goal.
Are you a long-term goal setter, or do you like to set break down money saving goals daily or weekly? Regardless, set those goals. For a daily goal, think of ways that you can save money each day. Do you typically grab a cup of coffee each morning at the local shop down the street? Can you make coffee at home instead?
Make it a goal for the first of the month to stop that daily purchase and put that $3 into a savings account instead. By the end of the month, you could have over $100, all by just eliminating one small daily purchase!
If you are more of a weekly goal setter, take a look at how many times you eat out per week, and then eliminate 1 or 2 of those times to put right into savings. Again, by the end of the month, your savings account will show a quick and easy increase! Savings from little goals can add up quickly.
Round up your change.
Talk to your bank and see if they offer a round up program for customers. Basically, what that entails is when a purchase is made, the difference between the cents and the next dollar amount are rounded up and added into your savings.
That pack of gum that costs you $1.20? When you buy it, your bank rounds that amount up to $2.00, where a deduction of $2.00 will come out of your checking account and that rounded up amount of .80 cents will be added to your savings. While the amounts may not be huge, any amount saved is great! And trust me, it adds up quickly!
Set up automatic payments.
Did you know that some companies offer discounts or lower APR options if you set up an automatic payment for your bill each month? A $5 discount per month on your cell phone bill just for automating the payment? I’ll say yes to that any day! Free money for doing nothing!
Buy discounted food and freeze for future use.
We all have to eat, right? There is no getting around the fact that groceries and buying food at the store is a reoccurring fact in our lives. So, why not find ways to save money each month at the store? Check out the meat aisle to see if they have discounted any items for “quick” sale.
Amazing deals can be found! A ham that is normally $17 for only $8? Grab that sucker up and freeze it for future use! Many stores often have certain days that they discount items, so be sure to ask what their rotation is so you can know when to shop and get more food for less money!
Start a carpool.
Not only will you be going green and helping the environment, it will also help in lowering your gas expense as well. See if anyone at your work would be interested in car-pooling or switching off weeks to drive. See if any moms in your neighborhood want to take turns driving kids to and from school. Going to the gas pump less to fill up less often sounds like a huge savings win to me!
While the five ways to save money listed above are just suggestions, see if any of them may be a good fit for you and your lifestyle. If not, use them as ideas to get started and to find other creative ways to save money.
Saving ANYTHING is better than saving NOTHING!