![4 Ways to Make Saving Money Easy](https://wisedollar.org/wp-content/uploads/2017/06/2930044119_2a65cee6c7_z-150x150.jpg)
?Saving for a rainy day? is a phrase you?ll often hear when people refer?to the importance of saving money.
Though saving for a rainy day sounds easy, saving money can be a challenge.
With high consumer and student loan debt plaguing many in the United States, saving those extra cents becomes an all too rare event.
But, the truth is, saving money doesn?t have to be dramatic or difficult. It can even become automatic.
Here are a few ways to make saving money?easy, or at least easier than you think.
Set up an Automatic Transfer to Savings
Pay yourself first and you?ll thank yourself later. By setting up an automatic transfer you won?t notice that the money’s not there. Create your budget based off the amount of money you have after the automatic savings transfer.
The same goes for your retirement?contributions. Set those up automatically so you even see the money coming into, or coming out of, your account.
Move Your Savings Account to a Different Bank
Having two banks may seem a tad complicated, but it does help if you find yourself often tempted to dip into your savings.
With your savings account being held?at another bank it makes it harder for you to float by moving savings to checking and spending it.
You can still set up an automatic deposit to savings and not mess with physically going to two separate banks to make deposits. You may also be able to switch to a bank with a higher interest rate on savings, like Discover Bank, or at least move away from a bank that charges high fees.
Start a Retirement Savings Account
The numbers are staggering for how many Americans don?t have a savings account, let alone savings for retirement. If you are self-employed, a Roth IRA is a good option for a retirement account. Setting up an automatic deposit to your retirement account makes it easy to save for the future.
Set up a Savings Transfer on all Purchases
Does your bank offer an automatic savings program that puts your “spare change” into your savings account? Mine does! It means every time I swipe my debit card, the change is put into my saving account.
For example, if I spend $3.01 on coffee, $0.99 is automatically put into my savings account.
It?s like putting your spare change in a jar. It’s only a few cents here and there. But, over time, that amount adds up.
Cash Back Rewards on Credit Cards
Now don?t get it into your mind that a credit card can solve your money problems. Cash back rewards only work if you don?t carry a balance on your card and pay your bill in full every month.
But, if you use cash back credit cards responsibly, they can be a good way to save money. Instead of putting your rewards toward your monthly bill, have it transferred directly into your saving account.
Saving your money is easy, especially with the ease of online banking and automation. Whether you are saving a little, or a lot, it all adds up over time.
You don’t have to start big. Set small goals and work your up from there.?You can make saving money easy and hassle free with these tips.
What easy methods do you use to save money? How do you make saving money easy?
Photo courtesy of: Ramberto Cumagun
Wise Dollar
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Good tips Kayla. I have a single credit card – Citi double cash back – and pay it off each month. I run everything through it and wind up with a couple thousand dollars per year in cash back. I’d never spend more (of course) for the benefit, but I spend the money anyway, so take it! 🙂
In that case, that makes sense. You just have to make sure you stick to the part about not spending extra just to get rewards. Some people get caught up in that and end up in debt. 🙁