Savings Tips You Can Sink Your Teeth Into
Keep Your Money Safe With These Tips
Saving Money is difficult. Pennies don't seem to stretch as far as they used to, and everything seems to cost more than it did. Let's take the stress out of saving and give you some simple tricks to slowly build up your nest egg!
1. Deposit Your Change
Every time you cash a check or get change back from the store, throw it in a jar. As it fills up, take it right to the bank and deposit it into your savings account. If you can skip the jar altogether, and deposit those random cents when cashing your check, go for it. Before you know it, those pennies add up!
2. Examine Your Subscriptions
Pull a 3-month statement from all your accounts and see what subscription services you have coming out. Did you know about all of them? How many of them overlap or offer similar services? Are there any you can do away with? Cancelling unwanted subscriptions, then taking those funds you would have spent and putting them in savings, is an easy way to save without changing much in your bottom line. You are just spending your money wiser!
3. Automate Your Saving
If you are the type of person who always leaves the savings account for last on pay day, try automating it to be off the top. Set up a direct deposit from your employer for any amount, even as little as $5, to go right to your savings. Out of sight, out of mind!
4. Set Aside a Portion Of Your Raise
If you are in the fortunate position of getting a raise this year, considering tucking away a portion of that raise into your savings. Almost the same as suggestion #3, set up a deposit into your savings for a small bit of whatever increase you received. This way you are saving money and still have a little left to spend each pay cycle!
5. Try To Limit Unnecessary Fees
Take a look at previous bank statements. Do you often pay overdraft or NSF fees? Let's say over the course of three months you spend about $90 in bank fees (averaging $30/month). See where you can avoid these fees, and if you are successfully able to, put that extra $90 in your savings account!
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