You already know you need to put more money into your savings account. Even if you schedule an automatic deposit into your savings account each month, you have to have the extra money to put into that account in the first place!
So, how do you make sure you’ve got more money at the end of the month? The short answer is that you have to make saving a part of your everyday life. Here are four ways to do just that.
Cut Back on Fees
Everyone has to stare down fees on a daily basis. Whether it’s ATM fees, checking account fees, or shipping charges, you can end up saving a lot of money if you find ways to reduce these fees.
For example, Remitly allows you to, “Send cash to your recipient to pick up at a cash pickup location nationwide! We deliver on time and you can always track your money transfer wherever you are,” and they allow you to do it for less. When you send money using their Economy option, it’s absolutely free!
No matter what fees you face on a daily basis, if you make a habit to reduce or eliminate them, you’ll save.
Use an App, like Acorns
When saving simply becomes a part of your lifestyle, you don’t have to think about it, and when you don’t have to think about it, you’re going to save more. One of the best ways to save money without thinking about it is by using the Acorns app.
The concept is simple. You link your credit and debit cards to the app. Then, when you make a purchase, it rounds up your purchases and puts the spare change into a savings account. It doesn’t sound like much, but it has helped people save tens of millions of dollars!
Take a Breather Before Making a Purchase
Do you have trouble with impulse purchases? It doesn’t have to mean buying that designer handbag either. Even impulse purchases at the counter can add up.
Adjust your mindset and start thinking more carefully about whether you actually need that thing you want. Give yourself at least 24 hours. If it’s something you still want to purchase, then it’s probably worth the money.
Switch from Plastic to Paper
If you end up spending more money than you should because swiping that credit or debit card is so easy, make the lifestyle switch to cash. You’ll spend a lot less money as you physically hand it over. A cash-only diet has other benefits too that include:
- Haggling is easier when you only have so much in your pocket
- It will help prevent impulse purchases
- It can help you lose weight by avoiding unhealthy choices
It’s never too late to start saving, and with the tips on this list, it doesn’t have to be painful either! Saving will just become part of your everyday life, which means you’ll be able to save tons of money every year without even thinking about it!
