Are you wanting to save up for a vacation, a new car, a dream wedding maybe? Regardless of what it is you’re saving for, these tips will help you reach your savings goals faster:
- Open a high interest savings account
- Add to your account as often as possible
- Consider setting up a direct debit so a small portion of your paycheck is immediately deposited into your savings account.
- Make a list of things you can go without or cut down on, such as:
- Cable TV
- Netflix, Hulu, and other video streaming accounts
- Starbucks/specialty coffee drinks
- Alcohol
- Clothes shopping: shop at thrift stores and second-hand stores instead
- Gym membership: work out at home and take advantage of YouTube videos and fitness apps with workouts that don’t require gym equipment
- Expensive phone plan: consider downgrading to a cheaper plan
- Spend less on food
- Cook smart: Cook cheap meals, and cook enough to last you through the week
- Shop smart: Buy in bulk, shop at the Farmer’s market, and skip items you don’t need
- Take a packed lunch to work instead of dining out every day
- Limit how often you go out to eat
- Look for coupons and deals on everything
- Use apps like Groupon or Living Social and compare prices before you shop
- Get a temporary side job
- Reduce utility bills
- Buy energy efficient light bulbs and keep thermostat at a reasonable temperature
- Turn off lights and electronics and unplug chargers and appliances when they aren’t being used
- Sell your stuff
- Sell your unused clothes and items online, at a thrift store, or have a garage sale
- Save on transportation
- Track gas prices and fill up when it’s cheapest
- Use public transportation, car pool, walk or ride your bike whenever you can
- Spend less on the weekends
- Don’t go out as much: Stay in for game night or movie night
- Make a new budget
- Track your spending and determine which costs are necessary, and which are not
- Give yourself a weekly allowance and stick to it.
Start saving now with these small tips- a few dollars saved here and there will add up a lot sooner than you think. Whatever it is your saving for, Global Loans can help you get the extra money you need, when you need it. Contact us today!