For most of us, savings can be elusive if we don’t put it in our heads to do so. Most of the time we end up realizing that our savings just isn’t enough to cover emergencies, extra investments, and even the holiday travels that we’ve always wanted to have. So what can we do to start saving more? Below are 25 creative ways to save that can encourage us to keep tucking away that extra cash. Before you know it, your savings account will be growing in no time.
1. Place a piggy bank in several areas of the house. Whenever you find a stray coin in the laundry, on the floor, in a pants pocket, and so on, immediately put it in your piggy bank and deposit the money when it gets full.
2. Make it a resolution not to spend small bills. For example, if you decided on saving $5 bills, whenever you come across one in your wallet, don’t spend it. Tuck it away safely and watch it turn into $100 or more.
3. Don’t bring around too much cash. Having less cash in your wallet will prevent you from buying unnecessary things such as sodas or junk food. Plus, people are naturally more cautious when they have to swipe the purchase off debit.
4. Buy used stuff instead of new ones. There’s a lot of secondhand goods milling around that are still in superb condition. Take advantage of online selling platforms and scout around for the best deals.
5. Save on energy and you’ll save on money. Be sure to turn off those lights and turn down the heating, and your electricity bill won’t be so high either.
6. Shop after the season. You’ll be surprised how cheap things can be when January comes. That’s when year end sales and post holiday promotions come out. Buying things such as Christmas decor and saving them for next Christmas can save you a whole lot.
7. Every time you take cash out of an ATM, place the same amount in your savings account.
8. For every dollar you spend on bills, save at least half of the amount. It can be difficult, but it’s a quick way to fatten up your savings.
9. Encourage everyone in the family to save. You can do this by creating a competition such as “the first one to fill up his piggy bank will be relieved from washing the dishes for a month”.
10. Take advantage of coupons.
11. Steer clear from unnecessary and expensive purchases such as that mocha frappe in Starbucks.
12. Save on exercise. Instead of going to the gym, why not sign up in a local community college, or maybe jog to work?
13. Take care of your stuff. The more you maintain the good condition of your things, the less you will spend on buying replacements.
14. Be creative with your wardrobe. Instead of buying something new every month, why not discover how you can wear each piece differently? For example, you can wear that skirt as a tube top, or you can pair off the skirt of a dress with a cute blouse. Yes, it can work.
15. Save money on home entertainment by watching videos online instead of renting.
These tips do not only save you money, but they are also very doable as well. Anyone with discipline and a sense of fun can play around with these techniques to save more.