We all want to save more money, but we often don t feel like we can do it. It s easy to make excuses or to dip into our savings when something fun tempts us. But there are a few ways to save that are so simple you almost won t notice you ve started doing it. Try one or all of these five examples to pad your savings.
- Keep the change. Switch your plastic for cash to help keep track of your budget and then implement this easy savings strategy: Don t spend your coins. At the end of the day or the week pop all the coins into a jar or piggy bank you ll be surprised how quickly the change adds up! If you re really committed, you can do the same with one-dollar bills.
- Drink tap water. Invest in a reusable water bottle and fill it up everywhere you go. Water is the best liquid we can give our bodies, it s more thirst quenching than any drink (even those fancy sports drinks). Your body and wallet will thank you when you cut your calories and your spending by switching soda and juice for water.
- Use an automatic transfer. Instead of just telling yourself to save every time your paycheck comes in and then choosing a number in the moment when you re tempted by your new influx of cash, think ahead. Set up an automatic transfer to your savings account that occurs as often as you get your paycheck. Choose a reasonable number that makes you happy and then treat it like a bill you need to pay.
- Get rid of your credit card. There are very few times in life when we truly need to buy anything with credit. Avoid temptation by paying off and canceling your credit card(s). If you want to keep one for emergencies, hide it in a different part of your wallet and don t touch it unless you re in dire straits.
- Downgrade your cable. How much television do you really watch? If you re like most people, you re paying for a lot more than you use. Look carefully at your bill and all your TV and movie watching alternatives like Netflix, Blockbuster and Hulu, and then decide on a less expensive option that still allows you to enjoy your favorites.