Monday, June 29, 2015

List: Ten easy ways to grow your savings account.

I am one of those people that's always looking for ways to save money!  No, I'm not cheap.  I work hard for my money so I don't enjoy throwing it away.  Every dollar we save on necessities is a dollar we can spend on something we want.  Every dollar we save on things we want, is more money spent on wants in the future.  Those dollars may not seem like much, but they will add up to a nice sum over time.


simple tips to save money; easy strategies to save; how to build a savings account

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Ten easy ways to save your money.

Please note that I'll be skipping the most obvious tip:  coupons.  But, still use them.

1.  Automatic Savings Deposits
Contact your bank to have a set dollar amount automatically transferred to a savings account weekly.  Be sure that you line it up with pay day!  You want to make this a thoughtless process.

2.  Overdraft Protection
Ensure that you have overdraft protection to help avoid unnecessary fees and delinquent accounts.  Many banks will link a checking account to a free line of credit as a "just in case" method.  Tip - If you bank utilizes a line of credit, paying off your overdraft may help your credit!

3.  Cook, Cook, and Cook
Avoid expensive take out bills and empty calories by cooking yourself dinner on a nightly basis.  If cooking is overwhelming you can and totally should cook in bulk to freeze homemade meals.  For easy recipe ideas check out my recipe page.

4.  Budget
Make yourself a budget to account for all expenses.  Take a percentage of what's left and save it!  I'm the budgeting queen!  If you need any help, reach out to me personally or read this post.

5.  Make Advance Purchases
Don't wait to buy predictable gifts.  Buy them for less while on sale and in lower demand.  The same goes for purchases that you know you'll need.  For example- If a child needs a fancy calculator for school, predict the purchase and buy it on sale way in advance.  I do this for everything especially the holidays and saved ridiculous sums of money!

6.  Store Brands
Swap your expensive name brands for less expensive store brands.  Most products are near identical.  Do you need help seeing which store brand items are the same as the name brand?  Look here.

7.  Shop Weekly Ads
Before making any purchase, check out the store's weekly ad for deals and new ideas!  This is also a great way to pre-plan meals, ensure you have all ingredients, and work on improving # 3!

8.  Pack Breakfast & Lunch
Instead of wasting cash on expensive breakfasts and lunches, invest in an insulated lunch bag.  Try simple & inexpensive things to pack such as hard boiled eggs, oatmeal, fruit, or a large salad.  I was recently gifted with this lunch bag and I absolutely LOVE it.  I haven't gone out for lunch more than twice since.

9.  Transfer Debt
Consolidate your debt by transferring balances to low or zero-interest lines of credit.  Interest rates make paying off debt near impossible.  If you haven't paid off the debt before the promotional time period, just transfer again.  It's really simpler than you think.

10.  Utilize Saving Sites
For a cheaper night out, search for good deals through sites like Living Social and Groupon.  These sites help you save money AND give you hot new ideas for a day/night out.  & we're all about money saving inspiration, right?

How do you grow your savings account?

18 comments:

  1. I save only buy not eating at all :) There is no other way in my country...
    And when I saw that piggy on the toilet photo I first thought the title is TEN EASY WAYS TO CLEANSE YOUR....... :))) and I was like - no, she didn't! :)

    ReplyDelete
    Replies
    1. Not eating at all? Eep!! That's awful.

      hahahaha I LOVED that cartoon. It makes me giggle. :)

      Delete
  2. Great helpful hints! Every time I buy things on sale I tell my cheapo husband, "look how much money I saved you". He responds the same ever single time, "you would save me more money if you wouldn't shop at all"!

    ReplyDelete
    Replies
    1. Thanks, girl! LOL My man would probably say something similar.

      Delete
  3. What? Saving? What is that? Such a foreign word to my broke self lol

    ReplyDelete
    Replies
    1. Awww, Pat. Print out my list and stick it on the fridge. It will help. I swear!! hehehe

      Delete
  4. Like tips for losing weight, I could read tips for saving money over and over again and still enjoy them! These are great ones. I've really utilized the value of cooking for yourself the last couple of years but I cannot wait until we get a standalone freezer. I want to take one day and just fill it with homemade goodies.

    ReplyDelete
    Replies
    1. A girls two favorite things to do-Lose weight and save money. I with ya! lol

      Stand alone freezer? Yes, please!

      Delete
  5. I've found that eating out for lunch break can be very bad for the wallet even if it's just twice a week though there a few exceptions

    ReplyDelete
    Replies
    1. Friday is my "off" day. I'm strict with bring lunch and breakfast Monday through Thursday.

      Delete
  6. I 100% see the biggest difference when I don't buy lunch out during the week!! Need to get better at that!! xo, Biana -BlovedBoston

    ReplyDelete
    Replies
    1. It really does make a HUGE different in money AND calorie counts.

      Delete
  7. The better your credit, the lower your payments will be. Sometimes, they'll even knock off a good portion because your credit is high.

    When at all possible, pay in full. My dad saved $250 by paying for my braces up front, in full.

    ReplyDelete
    Replies
    1. Excellent point!! Saving on interest is a HUGE savings. :)

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  8. All excellent ideas...and we all need to be reminded now and then. Love the little piggy...haha...

    ReplyDelete
  9. Budgets are soooo important in keeping me on track! Plus if I budget for saving, it happens- if I don't plan for it, I just end up spending the money. (Bad, Ashley!)

    -Ashley
    Le Stylo Rouge

    ReplyDelete
  10. These are all excellent ideas...we do all of the above and have done it for years and years.
    We play-like that our savings account is another "bill" and we budget it in to add a certain amt. each month, just like paying bills.
    Another thing that has REALLY made a difference is to pay off our credit card every single month. If we know we can't pay for something in that month, we just don't buy it.
    Love that cute piggy....lol

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  11. It takes a lot of discipline to follow all these good ideas. For example, I try to bring my cup of ramen noodles to work for lunch every day... I still end up going to the vending machine and getting some chips or something in a moment of weakness.

    ReplyDelete

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