Everyone wants to see big numbers in their savings accounts, but few want to put in the work it takes to get there. Saving more money doesn’t have to be difficult or a huge sacrifice. These eight little tricks can help you save more every month.
Round Up Your Checking Transactions
Many banks now allow you to round up your debit card transactions and automatically put the money in savings. For example, if you spend $1.91 at the gas station, it rounds up to $2.00 and $0.09 goes into checking.
Set your savings account to automatically withdraw a set amount from your checking account every time you get paid. If you never see the money in checking, you’ll never miss it.
Make It Harder to Spend on Luxuries
Lots of stores have apps nowadays, like Starbucks, Papa Johns, and Dunkin’ Donuts. These apps make it easy to spend money where you shouldn’t. Make it inconvenient to spend money unnecessarily and put that money in savings.
Also, make Sure to grab the FREE online Budgeting Tools at Learnvest:
Leave Your Cards At Home
Headed out to run errands? Go to the ATM, take out the amount of cash you need, and then leave your cards at home. This helps you avoid spending temptations.
Save With Online Shopping Rebates
If you do a lot of online shopping, you may be able to get money back with sites like Ebates. You usually only get a small percentage of money back, but it all adds up.
Save for Something Specific
Rather than just trying to save more, have a specific goal in mind. This makes it easier to stick to your convictions when you want to spend.
Reward Yourself for Sticking to Your Plan
Meet your savings goal for three months in a row? Treat yourself with something small, like a manicure or a new top. These little rewards can make it easier to stick to your plan.
Keep Your Accounts Separate
Don’t have your checking and savings accounts linked. This makes it way too easy to transfer your hard-earned money to checking and spend it.
Saving is an incredibly important part of your financial life. Start small with these tips and enjoy the satisfaction of watching your account grow.
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