Tips To Save Money


  1. WRITE DOWN ALL YOUR EXPENSES:  Most people don’t realize how much they spend on unnecessary items or purchases and before you know it – it adds up. It’s best to write down all of your spending so you know what you may be able to do without. Maybe instead of the $2.95 for the mocha latte you put that money into your savings account.
  2. AUTO-TRANSFER:  This is a simple way to save money. Just set it up and you don’t have to think about it! Perhaps your employer can set up your payroll to be split between your checking and your savings. If not, your bank would be happy to help you set up an automatic transfer on a regular basis.
  3. DON’T SPEND THAT CHANGE:  There are two reasons. First, if you always need to break a bill in order to make a purchase it might give you pause to determine if you really need that item. Second, that change really adds up! At the end of each day, take any change you have accumulated and put it in a container. At intervals, wrap up that coin and deposit into your savings account. 
  4. REWARD YOURSELF:  In life we are taught that we get rewarded for achievements. You can do the same for yourself. Didn’t impulse spend? Found the best deal on the item you’ve been researching? Why not reward yourself by putting a some of money into your savings account.
  5. ESTABLISH & STICK TO A BUDGET:  By establishing and keeping to a budget you are in more control and can possibly be able to put even more aside into your savings!  People who use budgets are much more likely to save their money.
  6. SET GOALS; SAVE WITH A PURPOSE:  If you have a goal for your savings you are more likely to put that money aside. Maybe it’s a trip to Disney. Maybe it’s that cute little dress that costs a bit more than you like to spend. Saving for that perfect ring before you pop the question? Whatever your reason, simply having a reason will help you to save!
  7. SET YOUR PRIORITIES; PUT YOURSELF ON A TIMEOUT:  Especially for larger purchases, give yourself 24 hours to think about a purchase before you make it. Don’t get caught up in the heat of the moment or succumb to pressure from that salesperson. You may find that you don’t really need that item or you may find the same item somewhere else at a lower cost. (In which case you can put the difference into your savings account!)
  8. BONUS MONEY:  Got an unexpected bonus at work? Maybe a pay raise? Maybe a check for your birthday? Why not put it into your savings. All these little “windfalls” are golden opportunities to beef up your savings account.
  9. UNSUBSCRIBE:  If you are trying to save, why not remove the temptation to spend by unsubscribing to marketing emails? If you don’t get those email ads you won’t be tempted to spend.
  10. PAY OFF YOUR CREDIT CARDS:  So how does paying off a credit card SAVE money?  Credit cards compound interest. This simply means that every month that you do not pay off the card, you are paying interest on the interest they charged you in previous months!  If you can pay that card off, you might find a little extra to pop into your savings.