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:

  1. 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.
  2. 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
  3. 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
  4. Look for coupons and deals on everything
  5. Get a temporary side job
    • Find a flexible job that can easily work with your schedule like Uber or Lyft
  6. 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
  7. Sell your stuff
    • Sell your unused clothes and items online, at a thrift store, or have a garage sale
  8. 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
  9. Spend less on the weekends
    • Don’t go out as much: Stay in for game night or movie night
  10. 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!