Wouldn’t it be a great feeling to know that you’re moving ahead financially? Even an additional $100 a month in savings would help most families. To find extra money for saving, dig deep into your money management and spending habits.
Consider these suggestions for finding $50 a week to bank. After all, if you do, you’ll end up with an extra $200 per month. In just 6 months, you’ll have saved $1,200.
1. Think about the money that you spend each week on beverages. Buying extra sodas at the convenience store or the fuel station are eating up part of your $50 for the week. Do you buy coffee every day on your way to work? Even 3 coffees a week can add up to over $10.
* Consider bringing your beverages from home and save the money towards the $50 for your bank account at the end of the week.
2. Eating lunch out costs money. Perhaps you allow for lunches in your budget. But would you consider taking your lunch every other day, or at least 3 days out of the 5-day workweek?
* You’d stand to save at least $5 (and maybe close to $10) for each lunch you don’t eat from a restaurant.
* Alternatively, eat only at restaurants and fast food businesses for which you have coupons. You can find restaurant coupons in your Sunday paper practically every week. Vow to use coupons for your lunches to save money to bank.
3. Set a goal to trim $5 to $10 from your weekly grocery bill:
* What products are you buying that are expensive, unhealthy, or just plain unnecessary?
* Maybe you’re paying $4-plus for a processed snack food.
* Substitute something else at half the cost for those pricey items.
* If you usually buy a high-fat item, consider omitting it from your list.
* Focus on your store’s sales and buy-one-get-one-free offers.
* Be cautious about buying something just because it’s on sale.
* Try some of the store’s generic products for more savings.
4. Save money on gas. Make a vow to stay out of the car at least 2 days a week.
* If you work from home, you can avoid driving 3 or more days a week. Besides, once you go out in the car, you’re going to spend money on other things besides fuel.
* Can you carpool to work? Do you live close enough to walk? What about public transportation?
* Consider running errands and shopping on your way home from work so it won’t take any extra gas to complete those tasks.
5. Deposit part of your cash into the bank. Then, do what you can to avoid withdrawing money once you place it in your account.
* You might be able to save at least another $10 through this method: keeping back only $1.43 of your change each day adds up to $10 per week. You’ll hardly notice the dent in your cash, but your bank account will steadily grow.
* Avoid carrying large amounts of cash because if you have it with you, you might spend it.
6. Think about excess services you pay for that you can delay. For example, if you get a manicure each week, switch to every other week to save a bundle of cash.
Make it a goal to find $50 each week to deposit into your bank account. You’ll feel like a rock star as you watch your money grow. Apply these suggestions to discover and bank $50 every week to build your savings account.