Pay Yourself First
Each time your paycheck comes in, be sure to pay yourself first before paying off debt. Find an amount that you’re able to stick with consistently, even if it’s just $25 per paycheck, and have it automatically transferred into your savings account. If you’re paid 2 times per month, this could mean saving up to $600 per year. Anything is better than nothing! The money that you save could be great for building up your emergency savings account, or your long-term savings plan.
Investing can come across as intimidating for people that have not done it before, but investing is one of the best ways to grow your money. There are many ways to invest, but for newbie investors, it could make sense to invest in a certificate
that would give you guaranteed returns on your investment.
Take Advantage of your Library
Your local library can be a great place to pick up books and movies, and even attend some community meetings and clubs. You not only can take advantage of some great entertainment for free, it’s also a great place to go if you want to get some work done. While coffee shops are tempting, you’ll have to buy something in order to stay. At the library, you can come with your laptop and not have to worry about buying something new every time you go.
When you take part in rewards programs, you can earn more for your savings without any extra effort. For example, our Kasasa free checking accounts
offer you rewards when you qualify. You can either earn cash back or earn high dividends on your balance. Qualify for rewards by having at least 12 debit card purchases per qualification cycle, be enrolled in and agree to receive eStatements, and be enrolled in and log into online banking. It’s that easy to earn and start saving.
While Kasasa is one of our products that give you the opportunity to earn rewards, there are tons of rewards programs that you can be part of. Just be sure that when you decide to take part in it – it’s something that makes sense for you and your lifestyle.
Cancel Your Gym Membership
Gym memberships can be a good investment in yourself, but they’re only a good investment if you actually spend time going to the gym. If you’re someone that has a gym membership but hasn’t been to the gym in months, it’s time to cancel and pocket that extra money each month instead.
Refinance Your Mortgage or Car Loan
If you’re paying high rates on your mortgage or car loan and haven’t refinanced yet, it’s time to look into it! You may be paying more than you need to be. Refinancing your mortgage
or car loan
may help you to drastically lower your monthly payments and the amount of money you spend over the course of the loan.
Plan Your Grocery Runs
How many times have you gone to the grocery store to pick up just a few things and you end up with a full cart load? When this happens, you’re liking buying more on impulse and less on what you actually need. This is an easy way to waste money or spend more than you were intending to – leading to breaking the budget. Making a list and planning your grocery trip each time you go is a great way to keep yourself on track. You’ll find you’ll save more money over the course of the month.
Buy Store Brand
On your planned grocery shopping trip – take some time to notice the price between store brand and name brand items. Most of the time the store brand will be more affordable. While you may think that the name brand items are better quality, that’s not always the case. It may take some trial and error to find what store brand items you like better or just as much as the name brands, but when you do – you’ll notice your grocery bill being a little less.
Bring Lunch Instead of Buying Out
While buying lunch out is super convenient, it’s expensive and adds up. You can save hundreds of dollars each month by bringing your lunch instead of buying out every single day. Try meal prepping on Sundays or making extra when you make dinner so you’re guaranteed to have leftovers for the next day’s lunch.
Unsubscribe from Retail Store’s Marketing Emails
While some marketing emails can be good and helpful, marketing emails coming from retail stores can easily tempt you to spend money on things you may not even need. If you unsubscribe from their emails but still want to know when there’s a sale – follow them on social media. You won’t get emails from them everyday anymore, but you’ll still be in the know for when you may need to purchase something.
Saving money for the future and for an emergency savings fund is an important part of being financially stable. But, for many people, it can be difficult to save. Here are 10 things you can do to start saving more money.