Small Tips, Big Savings
Regardless of how little or big the amount may be, putting money into a savings account is always beneficial. You never know when a rainy day may hit, forcing you to tap into your extra funds. But, developing consistent saving habits can sometimes be a challenge. So, to help you become a smarter saver, here are a few tips to incorporate in your financial plan:
Make savings a routine. Whether it is one dollar or one hundred dollars, developing the habit of saving is the most important contribution towards a financially secure future. To ensure that you are saving, set your bank account to automatically transfer a set amount into a savings account.
Be mindful. Incorporate savings into your budget as if it were a mandatory bill. When going over various bills and monthly payments you must pay, include savings at the top end of important payments.
Buy in bulk. If you find yourself eating out quite often or buying coffee every morning you might want to reevaluate those money-eating habits. You can save a lot by purchasing food items in bulk and planning meals out ahead of time each week.
Save gas and the environment. Public transportation, carpooling, biking, and walking are all ecofriendly ways to save on transportation costs. If your only choice is to drive, research ahead of time the shortest routes to get you from point A to point B to save on gas.
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"Increase Savings and Rebuild Your Emergency Fund." Smart About Money. National Endowment for Financial Education, n.d. Web. 24 July 2017.