Saving more money this year than you did last year doesn’t have to be complicated, or painful. In fact, if you use just one of the tips, below, you will be surprised at how easy it is to accomplish your savings goals. Here are four ways to save:
(1) Budget With Cash and Envelopes
Using cold hard cash will wake you up to where your hard earned money is going each month. Simply grab some envelopes and write budget categories on the front of each one. Examples are: groceries, household items, entertainment, dining out, clothing, gifts, gas, and fun money.
Then, after each paycheck, put the budgeted amount of cash in each one. Once you run out of money in an envelope you are unable to spend any more money in that category until your next pay period.
Put any money that is left over into a savings account.
(2) Save Your Loose Change
Put a large jar on your bedroom dresser (or wherever you most often change your clothes). Each and every evening check your pockets for loose change and place it in the jar. What’s fun is to not count what’s in the jar. Then, three or four times during the year take it to your bank and have a contest with the teller where both of you guess how much is in the jar. Ask the teller to run it through the coin counter to see who came the closest to the actual amount.
Most importantly, deposit all of the money in a savings account on each trip ($4.00 of loose change per week will add up to over $200.00 over the course of a year).
(3) Use The 24 Hour Rule
This rule will keep you from making impulse purchases. Applying this rule will give you time to think over whether or not you really need that new set of golf clubs! Online purchasing makes this tip easy to apply. Rather than hitting the “buy” button, hit the “wish list” button and think it over for a day.
(4) Join The National Consumer Alliance
NCA is a non-profit organization that provides members with access to discounts on products, services and voluntary employee benefits through top companies and the best brands in the country.
Save big money on prescription eyewear, cell phones, roadside assistance, pet insurance, rental cars, legal services, computer back up, identity theft protection and more.