Saving money can be simple, easy, and automatic. Use these tips to keep more money in your account, no hassle required.
Raise your hand if you'd like to save more money each month (raising ours up high!). If you think saving money is too hard, think again! With some simple tweaks, you could be padding your bank account almost effortlessly.
The first (and easiest) step in knowing how to save more money is to make it automatic. Some banks offer a “keep the change” program. When you enroll and make purchases using your debit card, they'll round totals up to the nearest dollar. The difference is then automatically deposited into your savings account.
Also, set up a direct deposit from your paycheck into your savings account. Put a portion of each check into savings and watch it grow. Because it happens automatically, you won't even miss it!
Using coupons is way easier than it used to be. With Save, the coupons come to you so it's a regular part of your shopping routine. Check your Save weekly mailer for deals on what you typically shop for. It includes coupons for groceries, restaurants, household goods, and more. Don't need all that week's deals? Keep them for your running grocery list so can use them later and save big long-term.
An easy way to instantly save is to get rid of bills for things you’re not using. Think subscriptions to streaming apps, gym memberships, magazines, etc. You may also be paying for something like at-home phone service when you only use your cell phone.
If you're like us and can't remember all your subscriptions, use an app that helps you identify and cancel subscriptions you no longer need. It's also worth scanning your bank statements to track your spending over a month. Then, go back and circle purchases you could have done without. Use that knowledge to decrease your spending next month and watch your month-end balance go up!
If you're strategic, you can make free money just by using plastic. Many cash-back credit cards require no annual fee. Use the card to buy what you need, pay off your entire bill each month, and you’ll earn money for everyday spending. Some even offer cash-back bonuses if you meet a minimum spending requirement within a certain amount of time. Cha-ching for you!
Also, go with rewards structures that work for your lifestyle. Some offer higher cashback amounts for travel-related purchases, while others might offer more for dining and restaurants.
Speaking of credit cards, if you do carry debt, try moving your balance over to a 0% APR credit card. Free balance-transfer credit cards let you pay off your debt without interest for a given time. That's a huge monthly savings.
How often do you eat out? The average outside-the-home meal costs $12.75, compared to $2 for a cooked-at-home meal. At more than a $10 difference per person, that can add up quickly, especially if you're cooking for your family. Try to cook at least one extra meal at home each week. Bonus: Home-cooked meals are often healthier, containing less sodium, saturated fat, and calories than restaurant meals.
You can save more money when you realize how you spend it. Write down your spending habits so you can create a realistic budget. Then use these tips for saving money along with your weekly Save mailer to double down on your discounts.