Saving money is a great goal to have, but we know sometimes it's hard to do.
There are days when it seems like as soon as money comes in, it goes right back out.
There are a lot of reasons why this happens. We've all had days when we woke up late and didn't have time to pack a lunch. And sometimes, you feel like you really need a pick-me-up (whether it's an afternoon coffee or an impulse purchase). "Lifestyle creep" can also happen over time, where your overall expenses increase alongside your salary.
But what if we told you this: Saving money is less about how much you make and more about what you do with it.
From little daily decisions to bigger, long-term moves, here are five ways to make it easier to save money this spring.
Payroll automation. Does your employer offer a savings program for retirement? Are you maxing that out? It's easier to save for retirement when a portion of your paycheck goes into a retirement account automatically. While you're talking to your Human Resources department, you can also ask to divert part of your paycheck into a savings account instead of all going into your checking account, where you're more likely to spend it.
Automatic transfers. In addition to making your retirement savings automatic, you can do that for a lot of your bill payments and other savings, too. You can set up a recurring transfer from your CommonWealth One checking account to a vacation savings account or another savings account, like our Kasasa Saver. You can also set up your bill payments to happen automatically, which can save you money on late fees and interest.
Apps. There are a ton of apps and programs that can save you a lot of money if you get in the habit of using them! Make sure you're signed up for your grocery store app and membership program, and look for special online coupons there. You might also consider using the Upside app®, which can give you cash back at gas stations, grocery stores and restaurants. Other useful apps include Ibotta®, Fetch® and RetailMeNot®.
Follow the 48-hour rule. An easy way to curb those impulse buys is to give yourself a 48-hour rule. If you see something you want, start a timer. If you still want that thing in 48 hours, buy it — but only after you've looked for alternatives and less expensive options. It's so easy to click and buy something immediately, that waiting 48 hours before you click that 'buy' button can save you a lot of money.
Meal plan. Before you go grocery shopping for the week, take stock of what you already have and think about what you want for breakfast, lunch and dinner in the upcoming week. Make a list of what you need to cook those meals and stick to it as much as you possibly can. Planning ahead for the upcoming week will prevent you from buying more than you need, it will reduce impulse food purchases, and it will cut down on the number of times that you order from a restaurant. All of those things can save you money!
Want more tips? Watch the recording of "Strategies for Successful Saving" when our partners at GreenPath as they discuss how to build a savings plan you can be successful with!
