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11 Easy Tips for Saving Money


Saving money is important if you want to be prepared for future financial surprises or hardships and establish peace of mind. But sometimes, finding extra funds to set aside is a challenge. These simple money saving tips can show you new ways to save and fill your savings account up in no time.

11 Great Money Saving Tips

1. Switch your bank account. If your current bank account charges you fees, you might consider switching to a bank that offers you ways to keep your account fee free. First Bank* offers five different checking account options, each with ways to keep your account free of fees.

2. Save loose change. Save money by storing loose change in a jar. Once the jar is full, you can cash in the change at your bank and deposit the money into a savings account.

3. Create a budget. By creating a budget, you’ll be able to see where you can cut back your expenses and save money each month. 

4. Making a shopping list and stick to it. Instead of going to the store without a plan, try creating a shopping list and not straying from it. This way you won’t be tempted to buy things you don’t absolutely need.

5. Avoid dining out. Dining out is expensive. You can save a ton of money each month by simply eating at home. And if you have to eat out for an event or because you’re running low on time, you won’t feel guilty spending the money because you’ve been saving all month.

6. Cancel cable. As great as television is, cable is an unnecessary expense. If you’re really looking for ways to save money, consider canceling your cable subscription.

7. Make coffee at home. The average American worker spends about $14.40 on coffee per week. By making coffee at home, you could save around $1,100 annually.

8. Cancel unused memberships. Have a gym membership you never use? What about a subscription to a magazine you never read? Look at all of your recurring membership fees and cancel the ones that you’re not using on a regular basis.

9. Shop generic. Often, generic items are just as good as their name brand counterparts. Choosing the generic brand when grocery shopping can save you tons of money on your bill. And to save even more money, don’t forget to sign up for your favorite grocery store’s rewards program.

10. Take the bus. Do you live in an area that offers public transportation? If so, consider taking the bus to and from work to save money on gas.

11. Take advantage of warranties. These service contracts offset the costs of expensive home or car repairs. With established monthly or annual costs, you and your budget won’t be caught off guard by an unexpected bill.

For more money saving tips, check out First Bank’s Financial Education Center.


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Source:

ABC News: http://abcnews.go.com/GMA/american-coffee-habits-spend-coffee/story?id=16923079

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