Save More Money with These Tricks
When you’re trying to find ways to save money at home, you’ll quickly notice that simply throwing spare change in a piggy bank is no longer going to cut it. If you want to save more money (and somehow gain the self-control to keep those credit card bills down), you’re going to have to get a little creative. Playing tricks on others may be frowned upon, but tricking yourself into saving more money will help you be more fiscally responsible. Wondering how to save money fast? Use these strategies and you’ll have more money in your hypothetical piggy bank in no time.
PYF … Pay Yourself First
Remember this acronym: PYF. It stands for pay yourself first, and those words of advice are just as true now as they were day your parents first imparted that wisdom. You probably already have your paycheck on direct deposit (and if you don’t, make that happen), but you should also set up a system whereby a portion of that money automatically goes into your 401(k) and your savings account. If you never see it, you won’t miss it!
Count to 10
Impulse buys are the worst enemy of someone who is trying to save more money. Rather than whipping out your credit card every time you see a cute pair of shoes or a new jersey, stop and count to 10. Ask yourself: Do I really need this? And can I afford it? By giving yourself some time to think, you may realize that spending the money really isn’t worth it–particularly if you have yet to pay your bills that month.
Find the Deals
If online shopping is your Achilles heel, trick yourself into saving more money by using sites like Groupon and LivingSocial to buy the necessities. From new glasses to getting your teeth whitened, these sites can help you live the lifestyle you want without shelling out a fortune. Find out what you would have spent had you not found a deal on Groupon, and deposit the difference in your savings account.
Some banks automatically round up your purchases to the nearest dollar and put the change in your savings account. You can do this yourself by saving your receipts, doing a few quick calculations and depositing your change at the end of the week–it seems a lot less scary than setting aside a large chunk of your paycheck every month.