In a perfect world, we wouldn’t need to trick ourselves into saving money, because we’re all grown-ups who have self-control, right?
Let’s be honest, whether its splurging or the unfortunate mishaps that require immediate funds, we could find areas where we can cut our costs and unnecessary spending.
Acknowledging that our self-control might need some work isn’t a bad thing. Try implementing some of these tips and tricks to help you become a super fine finance ninja!
It may seem old fashion, but that change after you break a dollar can add up quickly. That few extra $100 per year might not sound like much, but it’s far better things to be done with extra coins than losing them between the cushions!
Round It Up
Some banks like Bank of America have programs that can round your transactions to the nearest dollar and then transfer the difference to your savings. For example, if your purchase is $5.73, $0.27 would be added to your savings account. It may seem like a small amount, but it can quickly add up in addition to your savings rate.
Make Money Shopping
Many sites allow you to earn cash back while shopping, whether online or in an actual store. One of my personal favorites is the Dosh app. Dosh is an app that gives you cash back every time you make a purchase at the numerous participating stores using your linked debit or credit card. These stores range wide in variety from your weekly Exxon or Shell, to your Pizza Hut and Dominos. The best part is, they give you $5 just for signing up and linking your card!
Transform your routine. Instead of ordering lunch every day at work, pack a lunch on some days. Think about the unnecessary subscriptions you have monthly, and divert those payments into your savings account. Are you a social drinker? Are you a smoker? What habits do you have that you can work on quitting to help save those extra bucks at the end of the month?
Check Your Home
You’d be surprised at how much you can save monthly by just cutting back on your energy bill. Caulk holes and cracks that let warm air out in the winter and cool air in the summer. Ask your local gas and electric providers for a free or low-cost home energy audit. This can lead to tremendous long-term savings. Learn the correct settings for your thermostat to ensure you keep your usage at bay when you away from home during the day.