Money Mondays: Saving Money

This week, we are going to take a look at saving money, and some ways that you can go about it. We know how important it is to save money, so we’re going to skip that and go straight to some methods you can use to save money.

Keep the change. Each day, you should empty your pockets full of change into a jar. A bank account will sometimes allow you to round the purchase amount up to the nearest dollar, and transfer the rest into your savings account. You will be surprised how quickly this adds up. Occasionally, throw all your single bills in there, too.

Open a Savings account. Each month, deposit your change savings into your bank account, and/or have a set amount transfer over from checking. Never touch the savings, unless it qualifies as an expense that you need the savings for, such as a vacation, or an emergency.

Re-Evaluate your budget. Take a look at your expenses. See where you can cut them. For instance, if you spend $20 a month on movie rentals at the store, switch to an online store, spend $15. You’ll get more movies each month, and some money to save! Keep the budget the same even though you cut it. Throw the difference in savings.

Check out online programs. Programs like MyPoints, Upromise, and others will have you earning money or points on to use on gift cards or college savings. It will help your budget, and will not take much time each day. There are also coupon websites you can join to get coupons to use at the grocery store.

How do you save money? Share your thoughts below! I’m sure we can learn a lot from each other!