As we enter into the second quarter of the year, let’s take a quick moment to revisit one of the most common goals people make in the new year – saving money. Whether a home purchase, a vacation, a new car, or other items, the issue usually isn’t how much we make or have it is how best to save some of it. I have worked with many who ask if I am living paycheck to paycheck, how can I save? Here are three 3 ways to starting saving money now you can stop delaying achieving your goals and start saving money today.
1. Cancel Unused subscriptions
Subscriptions are all the rage right now, and it’s true; they can make our lives easier. However, we often sign up for subscriptions and forget about them or rarely, if ever, use them. No matter how small the subscription amount, that is money that could be working for you. Truebill is a great app that helps you find and cancel unwanted subscriptions. See if it’s a good fit for you here.
The typical person usually makes savings goals for large purchases, but that large dollar amount can seem daunting and leave you wondering where you will get that kind of money. Especially when money is already tight? In these cases, I recommend microsaving. Microsaving is finding small savings opportunities within your existing budget and setting things up to where these small amounts will automatically transfer into your desired account. For example, if you use your debit card to purchase a coffee for 2.45, you can round up to $3 and save the change, only .55 cents. Apps like Spendebt and GoChange even allow you to have the difference go towards loans. Check them out here and here.
3. Use a money tracking system.
Tracking your money is one of the most efficient ways to save money. We make better spending habits when we have buckets for our income streams. Apps like Qubemoney make it easy to plan your budget. Take a look at it here.
The key to saving money is to start now, in any way you can and with any amount. Small numbers add up, and as you see your savings begin to grow, you will be encouraged to save even more.
Be sure to check out the free resources we have created to help you on your saving journey.
Leave us a comment and let us if you tried any of these three3 ways to starting saving money now to save or other ways you save today.