These creative tips could up your savings game big time.
#1: Small amounts can add up
Programs that help you save small amounts frequently can really add up! “Round Up” programs like Qapital throw a few cents in your savings with every purchase. Collecting loose change in a change jar also adds up surprisingly fast!
#2 Debt paid off? Keep paying - into savings
When you’ve finally paid off a debt, take the amount you were paying into that and save it instead! Since you’re used to not having that money to spend anyway, you won’t miss it.
#3 Audit your subscriptions
Regularly check the money that’s automatically coming out of your account every month. You could be losing money to subscriptions you’ve forgotten about or don’t use (gym, Spotify, Amazon Prime) or are paying too much for (Internet, cable, phone plan).
The library often offers tons of free entertainment too, and sharing accounts with friends and family can cut costs. Calling your provider and threatening to switch to a competitor can even get you a deal!
#4: Got a windfall? Use the rule of thirds.
When you get your tax refund or stimulus check, use the rule of thirds to manage it. That means 1/3 goes to debt (the past), one third goes to savings (the future), and you can spend the last third (give yourself a present)!