Do your paychecks seem to get sucked up before you have a chance to sock any away in savings? It happens to the best of us. Saving money doesn't have to be difficult. There are simple steps you can put into your daily routine that will help you save money.
Check Your Account Balance
Reviewing your online bank account statement on a daily basis means you'll know when something looks fishy. Whether it's a $21 purchase at Ladies in Lace or $1500 plane tickets to Tahiti, you'll easily be able to recognize unauthorized purchases right away. It's also a good way to keep your own spending in check.
Make Your Own Coffee
Caffeine addicts need to become addicted to something else: making their own cup of joe. Tap into your inner-barista and learn to brew a bodacious shot of espresso. Making this a daily habit will save you big bucks over time.
Eat at Home
A $5 Subway meatball sub one day and a $7.99 Arby's meal the next really will add up. In just a week, eating at home or packing your lunch can save a minimum of $20.
Reducing your dependency on credit is a good thing. If you can't pay cash, ask yourself if it's a purchase you really must make. Forcing yourself to pay cash means you're committing to living within your means. Withdraw just enough cash to take care of the necessities each week and keep those credit cards locked up.
Put Some in Savings
Make this easier on yourself by setting up an automatic process. If you have direct deposit, allocate a certain percentage or dollar amount of each pay check to go right into your savings account. Or try a something like Bank of America's Keep the Change program. Every time your debit card is used, the purchase is rounded up to the nearest whole dollar amount and the change is put into your savings. Chances are, you won't miss the money but you'll be making a habit of saving.
By Alison Storm
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