Tips For Saving Money Quickly
Tips for saving money quickly
Think you can’t save money? Think again! Everyone can start saving, and there are so many reasons why you should:
- Emergency fund
- Large expenses
- Special occasions
- Big purchase
Don’t put off saving for a rainy day -- learn quick and easy tips for saving money fast that will help you feel more confident in your financial situation.
There are several common ways to save money fast:
- Stick to a budget
- Trim entertainment expenses
- Cook at home instead of dining out
- Walk or combine trips to save gas
- Use coupons and discount codes
- Sell your extra items
- Meal plan to keep your grocery bill low
- Negotiate your cable or phone bill
- Switch to cheaper insurance
The trick to saving money quickly is to ruthlessly divert every extra penny. Most people accomplish this by cutting costs, eliminating “fun” money, and trimming their expenses as much as possible. They then put all “extra” funds into savings.
Depending on your income and how it compares to your expenses, you may be able to save money very quickly using this method.
However, it can be difficult to sustain this method of saving for very long periods. Most people need at least a little bit of “fun” in their lives beyond paying bills and buying groceries. And it can be really tough to constantly remind yourself to save money, especially if it doesn’t come naturally to you. If you force yourself to save when you’d rather spend, you might even find yourself on a shopping spree later -- ruining all of your hard work!
That’s why there’s another method of saving money fast that’s even more effective: making saving automatic.
Saving money automatically
When you make your savings automatic, you save without thinking. You no longer have to battle yourself about what to spend and what to save. We recommend setting up a Dimes to Dollars Savings Account with Consumers National Bank, to makes this process easy for you. With this account, you can drop your spare change into savings, even when you pay electronically.
With an automatic savings account, your extra funds are routed to your savings account without you needing to lift a finger. The money is moved automatically into your account, where it can grow quickly.
A Dimes to Dollars account from Consumers National Bank makes this process simple and effective. Here’s how it works:
1. Spend with your MasterCard debit card like normal — at the grocery store, your favorite retailer, or anywhere you like. You can even pay bills.
2. Your purchase amount is rounded up to the nearest dollar.
3. We transfer the difference to your Dimes to Dollars savings account instantly.
Take an example. Say you make a purchase at a convenience store for $9.75. With a Dollars to Dimes account, we round that up to $10 and put the extra 25 cents into your savings account. You didn’t need to do anything extra; your savings grew just by you making an everyday purchase.
With just four transactions like that convenience store purchase, you’ll have an extra dollar in your account. Now imagine how many times you use your debit card … and how many extra dollars you could save without even noticing!
Earn interest too
And there’s another important perk, too. Your Dollars to Dimes account earns interest, another creative way to save money fast, which helps your savings can grow even faster. See the latest rates to calculate how much you could receive just for holding a Dollars to Dimes savings account.
So you can keep the change AND watch it grow -- quickly and easily.
Consumers National Bank has a number of personal savings products to help you grow your money. Contact us to find out how you can open your own Dimes to Dollars Savings Account today!