Every household should really have a nice little stash of cash. Unfortunately, saving money and building a stash can be quite difficult for many households, especially those living pay check to pay check.
It’s certainly not impossible, though. It just takes a little discipline, planning, and of course some creative money savings strategies!
Start saving money today with these super simple techniques. Most of these only take a
1. Pay yourself first.
If you haven’t started an automated bank deposit into your savings account yet, now’s the time to start! It only takes a moment to set up a weekly, bi-weekly, or monthly transfer from your main account to a dedicated savings account, but the money will add up to a tidy little sum over time.
2. Get a piggy bank.
Piggy banks aren’t just for kids. They can be a great way to save money for adults too! You don’t have to just plunk in nickels either. Add spare dollar bills to your piggy bank to grow your savings quickly. You can also set up a designated piggy bank savings account and sweep any extra change or uneven denominations from your main account to your new savings account.
3. Make impulse savings instead of impulse buys.
You know those impulse buys you always seem to give in to? From now on, resist the natural urge to spend, and save instead. Take the money that you would have spent and put it into a savings account instead. That $1 for a candy bar, $10 for a new blouse, $30 for a candle, and $50 for a pair of boots can really add up.
4. Stash your savings.
Look for additional ways to start saving money, and stash that extra savings for a rainy day. Just determine how much you would normally spend on something, and put the amount of money you save on your purchases into an account. For instance, if you normally spend $1.50 on a loaf of bread and you find it on sale for $.50, add $.50 to your savings account for each loaf you buy. here are some ideas to help you save money like a pro:
- Only buy products on sale.
- Use coupons on sale items to cut your cost even more.
- Learn to DIY instead of calling in a professional.
- Shop for clothes a season or two in advance by buying last year’s apparel on clearance.
- Polish your green thumb and grow your own veggies.