It is easy to spend money. Whether you’re shopping the sales each weekend, you’re eating out multiple times a week, or you love pulling through and grabbing a coffee every morning, chances are, you’re spending more than you’re saving.
The good news is that you don’t have to give up all the little things you love if you want to put a little more into your savings account each month. Here are four easy-to-follow tips that will help you save without forcing you to change your habits.
Save on Fees When You Can
Fees are insidious. A dollar or two here and another dollar or two there and by the end of the year, you may have spent over $100 in little fees.
A few ways to save money on fees include:
- Save on money transfer fees with Remitly
- Choose a checking account without monthly fees
- Withdraw money from your bank’s ATM to avoid processing fees
- Never overdraw your bank account
- Avoid checking a bag and bring a carry-on on the airplane
- Choose a cell phone carrier that doesn’t charge extra fees
Using credit and debit cards is easy and convenient. That can be a bad thing. When buying something is so easy and convenient, you’re a lot less likely to think about your purchase.
Go on a cash only diet and you’ll spend less so you can save more. When the money you’ve budgeted for the month runs out, there’s nothing left to spend. That will force you to think more carefully about whether you want to spend money on that extra coffee at lunch.
Spending cash also means you can start a change jar! When it’s full, you can deposit it directly into your savings account.
Make Saving Automatic
Most of us have every intention of saving more. We plan to move that money into our account at the end of every month, but life often gets in the way. You may forget to move the money, or you may decide to spend it on something else.
Don’t allow yourself to sabotage your own savings plan! Instead of having to remember to move the cash over, make it automatic. Set the date of the transfer for when you get paid and you can ensure that some cash ends up in savings every month.
Hire a Tax Professional
Using an online tax preparation program is easy. It’s also affordable. Unfortunately, you could be missing out on some really great tax deductions.
There are quite a few reasons to hire an accountant, but one of the most convincing is the fact that a tax professional will be able to find more deductions, based on your circumstances. When that extra cash is refunded to you, it can go straight into your savings account.
Saving isn’t necessarily easy, but it doesn’t have to be hard either! With the tips on this list, you can save in ways you may not have expected so you can build a more secure future.