Three Easy Ways To Save Money Without Even Trying

11 December 2018

A close up of change jar sitting on table

Saving money is hard, especially in today’s economy. You have bills to pay, presents to purchase and meals to cook.

For many people, it merely feels like there is never enough money leftover at the end of the month to amount to anything. That’s where you are wrong.

Even small savings will add up to larger nest eggs if you keep at it. If you need some simple ways to save money without even trying, we’ve got you covered.

1. Set Up an Automatic Debit from Your Account

They say when something is out of sight it is also out of mind. It is true for money, too. When you have money automatically deducted from your account, you don’t even notice it. If you are looking to save some cash, even on a shoestring budget, consider having money deducted and sent to a savings account on specified days.

To make it as painless as possible, have the money sent on the day you get paid. By the time you open your eyes, the money has already been removed, and it feels like it never existed.

However, it does exist; it’s just in a money witness protection program. To make the most of this habit, consider using a savings account that is not directly linked to your bank. You don’t want to see the money accumulate as you go.

Instead, check on the account every few months. You’ll be surprised how quickly even small amounts add up over time. Start with small contributions at first.

Once you are savings-minded, start adding more substantial contributions to build a nest egg.

2. Skip the Morning Coffee Run (most of the time...)

Did you know that the average American spends about $1,100 per year on coffee?

Sure, $5 at a time doesn’t seem like much, but over time it adds up. If you stop at the Starbucks drive-thru seven days a week, you are spending anywhere from $125 to $250 every single month.

Instead of spending your hard earned cash at local haunts, brew your own beverages or wait until you get to work to indulge in free coffee. Reserve trips to the local coffee shop to special occasions or as a weekend-only treat.

At the end of the month, take the money you’ve saved and put it away into a savings account. What you have at the end of a year might be enough to fuel a small emergency fund.

3. Chuck your Change in a Jar

You probably had a piggy bank growing up. You tossed a nickel or dime in whenever you could, but the money probably never added up to much.

As an adult, even an adult who doesn’t use cash too often, the money you can save in a piggy bank is profound. Americans throw away or lose an average of $62 million in change each year.

The change falls on the sidewalk, slips between couch cushions or ends up unceremoniously swept up by vacuum cleaners.

Make it a habit of tossing your change in a jar when you get home each day. Once your jar is filled, cash it in at your local bank for paper currency.

It is surprising how much can be gained from the simple habit of putting change in a jar every day.

Saving money is not an easy task. If you’ve had trouble saving cash over the years, don’t fret, you are not alone. Just over 50% of Americans have less than $1,000 in savings.

If you fall into this percentage today, it is okay: You can make some simple changes right now that will lead you to a more financially stable life.