Effective Tips to Save Better

Savings. Blah, we hear that word and immediately tune out because we all know we could be better at it but don’t want to go through the disciplinary steps to achieve it, right? But we’ve got some quirky and fun ideas to help make it a little more fun (and beneficial)!

Save the 5’s

Maybe you have heard this one before, but it’s turned out to be rather successful (trust us, we’ve tested it). Each time you receive cash, set your $5 bills aside. So, let’s say you go to a fast food restaurant and use a $20 bill and receive $16 in change. Take the $5 bill and put it aside. Over time, your $5 bills will turn into much more without even causing you much financial straining. Then, this amount of money can be used to pay off a bill, buy groceries, or put directly into savings!

Resist the Urge

Here’s something to try next time you are tempted to make an impulse purchase. We’ll set the stage: You are at the mall and you see a clothing item you just have to have. Or you’re in Academy and you see new fishing or hunting gear. Try this: Put the item back and walk around. Give it 10-15 minutes if you can. Then see if you can remember what the item was that you really wanted. You’ll be surprised at how many times you will forget the item that you were so badly wanting just 15 minutes earlier! Doing this helps you to resist the urgency of impulsive buying and ultimately saves you a little (or a lot) more! Fun fact: This works with eating better too! When you’re trying to lose a few pounds and come face to face with a brownie, walk away and resist the urge!

Be Your Own Barista

Okay, we are not going to tell you to completely stop buying those on-the-go coffee drinks that we all love. That would be extreme. However, if you stop at somewhere like Starbucks or Dunkin Donuts every day, you are spending approximately $120 per month on coffee! So, what’s an alternative? Three things: Coffee creamer, Coffee beans, and Coffee filters. That’s right – we suggest you make yourself a cup of coffee before starting your day! The best part? It costs a total of $15 to buy the supplies that will make well over a month’s worth of coffee. Still not sure that you can do it? Check out this video by Shark Tank Millionaire Kevin O’Leary, who refuses to buy a cup of coffee and instead makes his own. It seems to work for him, considering he’s worth $400 million.

Round it Up

Here’s a super cool idea that many people don’t think about. Each time you spend money, round up the amount and put the difference aside. For example, if you go to the grocery store and spend $116.05, round it to $120 and put the additional $3.95 aside. You can still do this if you use a debit card by recording the difference of $3.95 and putting that amount aside at the end of each month or having it sent to a separate savings account. Do this with every transaction and you will be amazed how much you have saved in a short amount of time!