Who needs a little bit of help adding to their savings account? I try to add to my savings account with every paycheck. I don’t even stress that much about how much I am adding each time, I just like to make sure something gets added. I know that I sometimes are harder than others depending on what bills have hit and depending on your job, how work has been this week. If this is one of those weeks that you can use a little creative problem solving in adding to your savings account, check this out.
With these tips, I am going to show you how to add an extra $20 to your savings this week:
- Pack a brown bag lunch. Skip lunch out this week and pack your own lunch at home. Easier yet, pack leftovers from dinner each night and that’s it! Easiest lunch plan there is.
- Be sure to avoid the vending machines too. Those suckers will take all of your money $1 at a time. It’s easy to discount these purchases because they are so minor, but let’s say you drink 3 sodas a day. That’s easily $15 per workweek that you are spending.
- Carpool. How far is your commute to work? Why not carpool with a coworker and pitch in half for gas. This is a win-win as you will both save money.
- Go grocery shopping. In Your Pantry. That’s right. Before you head out grocery shopping for whatever you feel like eating, stop and shop your pantry instead. I bet you have something in there worth eating and you won’t have to go spend money on dinner.
- Stick with the staples. At least twice a week, make a meal out of old fashioned grocery staples like rice and beans. You can make an entire meal for your family for just a couple of bucks! Do this twice a week and you’ll be on the way to big savings.
How close to retirement are you? Could you use some more money? $20 may not seem like a lot, but the reality is, you can do a lot with $20 saved each week. If you are able to put that $20 into an account that nets you a 5% return on investment, you will have over $13,000 in 10 years or over $36,000 in 20 years. That’s a nice chunk of change to add to your retirement.