As much as we may try, saving money is rarely easy.¹ There are bills that need to be paid, groceries and other expenses. If you’re able to save a little here and there, you’ll be surprised how quickly it adds up. If you’re looking to build your savings, here are a few tips to get you started.

Use cash

The “act now, pay later” method for credit cards can easily cause trouble. It’s convenient to reach for your cards, but not having a visible way to see how much you’re spending can lead to overspending.² Before going to the grocery store or shopping elsewhere, withdraw the amount that fits your budget for the day, week or month. That way, you have to stick to the plan.

Eat out less

Eating out at restaurants or ordering carryout regularly can be expensive,³ which can cause your spending to get out of hand. Eating out several times a week can surpass what you would pay for groceries. Instead, plan meals you can cook in batches and eat throughout the week. Not only could it be healthier, but it’ll save you some extra cash.

Scan weekly ads for deals

When you go grocery shopping, put some time aside to plan before you go. Check the weekly ads for different stores to see where you can get the best deals on the items you need. You could surprisingly save a good amount of money this way. Be on the lookout for coupons,⁴ too.

Make a budget

If you don’t have a set budget, it’s worth looking into. You can keep track in a notebook, on a spreadsheet or whatever method makes sense to you. Actually mapping out what you spend each month can help you identify areas you can cut back on. Having a written goal for each month can also better help motivate you to work towards saving money for those expenses.

Then make your budget visible

Whether handwritten or printed out, make sure your budget is easily visible. To keep yourself accountable for staying on track with what you want to spend each month, keep your budget somewhere you can see it, such as on the fridge or kitchen counter. The daily reminder can help prevent unnecessary spending.

The views expressed by the articles and sites linked in this post do not necessarily reflect the opinions and policies of Cash Central or Community Choice Financial® .

Sources:

¹Gillespie, Lane. (2023, Feb 23). Retrieved from: https://www.bankrate.com/banking/savings/emergency-savings-report/

²Elkins, Kathleen. (2019, Feb 5). Retrieved from: https://www.cnbc.com/2019/02/05/paying-with-cash-can-help-you-lose-weight-and-save-money.html

³Lowell, Erin. (2022, Jan 26). Retrieved from: https://www.ynab.com/do-you-spend-too-much-eating-out-try-this/

⁴Neidel, Courtney. (2022, Jul 13). Retrieved from: https://www.nerdwallet.com/article/finance/how-to-coupon