10 Creative Ways To Save Money


Managing to save money can be a challenge, specially when life keeps coming at you with unexpected expenses. If you are saving towards a down payment for a new Lennar home or a home project that you have been putting off, here are creative ways you can save money. This RealEstate.com article by Stefanie O’Connell will allow you to reach your savings goals with these 10 great tips.

You know you should be saving money, but that’s easier said than done.

When it comes to actually setting that savings aside, life has a tendency to get in the way — the unexpected dental bill, the urgent car repair, the surprise baby shower your colleagues ask you to chip in for at work.

You might feel like you can’t possibly afford to set another penny aside.

But with these ten strategies, you might just be able to trick your way into saving more money anyway.

Your Starter Savings Steps

When you’re just starting out, getting into the habit of setting money aside is more important than the actual amount you save.

Start with these simple strategies to prove to yourself that you can actually afford to save — and eventually, you can increase your savings contributions as you’re more able.

1. Save Your Change

This classic strategy of saving all your spare change in a jar is a valuable reminder of just how much small savings can add up over time.

Your own change jar can help you start making regular micro-savings contributions while serving as a daily reminder that you can almost always afford to set something aside.

2. Use a Microsavings App

Depending on how often you use cash, the coin jar savings strategy might not be as effective as it used to be. Enter Qapital, a popular savings app that allows you to round up your purchases to the nearest dollar, saving your change virtually.

According to Qapital, the average user automatically saves $44 each month. Again, this is a great way to boost your savings painlessly and challenge the notion that you can’t afford to save more money.

3. Save Your Savings

The next time you use a coupon to get five dollars off your groceries or 20 percent off your delivery order, make sure the money you saved on your purchase actually winds up in your savings account by using an app like Tip Yourself, which links directly to your bank account and lets you pay yourself any amount you want.

So the next time you see something to the effect of “You saved $44.78” on the bottom of your receipt, use Tip Yourself, or schedule an immediate transfer from your checking account to your savings account, for the amount saved.

Up Your Savings Game

Once you’ve proven to yourself that you can afford to save (or save more) with our starter savings steps, up your savings game with these next-level steps.

4. Save an Extra 1 Percent

Whatever your savings rate is right now, that is, however much of your salary you’re currently setting aside, challenge yourself to increase that amount by 1 percent.

You’ve already proven to yourself that you can save more, so why not make it official and up your regular savings rate?

By increasing your savings by small increments like 1 percent, you’re unlikely to feel much of a difference in your day-to-day spending abilities, but you will see the growth in your savings.

Continue Reading the Full Article Here.

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