Simple Ways to Save Money

Saving money doesn’t have to feel like rocket science, take a few small and simple steps to saving money and make it feel like a breeze.

1. Create a stash – save all of the change you get during the week, or every $5 bill. Put it in a safe spot and don’t touch it. Put it in the bank, and let it go.

2. Think about big purchases for at least 24 hours before you purchase – Think you must have that brand new purse? Stop, back away from the purse, and think about it until tomorrow. Come tomorrow, it won’t be that important. You just gave yourself the opportunity to not spend recklessly.

3. Look at all of your regular bills and identify unnecessary extras – $5 a month for text messages, but you don’t even know how to use it? Cancel it, you just save yourself $60 a year. If you figure it out later, you can always add the service back on your bill. $8 for insurance on your cell phone? Check the plan you’re buying, does it cover all of the fees possible, or is it just a discount? Is it worth the $96 a year for the two year contract? I bet not!

4. Coupons in the mail? Give them away! Stores love to entice consumers with bonus cash, and extra dollars off, but if you’re trying hard to save money, those cards can cause a downward spiral, you just can’t afford. The best advice, give them away! To your co-worker, your mailman, anyone, but get them out of the house. No real loss, and bonus, when you use them, you keep them coming, so if you really think there may be a day you really need that coupon, you’ll get one. You can count on it.

5. Talk about it! If you’re trying to spend money, let those around you know. Don’t analyze every purchase you ever make to all of them, but make your goals and priorities known. get their support, and it will make it that much easier to say no to the expensive dinner but yes to the night in with friends.

6. Open a savings account – Make sure it’s one that pays you interest, but open it. Pay yourself as much as you can, as often as you can and watch your money grow. A little may go a long way, but watching it grow can be very rewarding.