Let's be honest: saving money isn't much fun. But if we spent it all without care, we'd never reach long term goals lilke buying a home or retiring.Like it or not, unless you have to make saving a part of your lilfe.Try a few of these tips to make it easier.
1.AUTOMATE YOUR SAVING
Saving can be difficult because you often think about what it prevents you from having right now,so you might betempted to send instead.Automating saving can help by ending all of that internal debate.Youdecide how much you'd like to save each week,pay period,or month--and then your bank will automatically transfer those fund to your saving account according to the schedule you set up.You don't have to think about it or r4emember to transfer any money on your own.All the saving happens in the background,and you can spend the rest of your money guilt free.
2.USE A HIGH YIELD SAVING ACCOUNT
Boosting your saving can be as simple as changing the account where you keep the money.The average saving account has an annual percentage yield(APY) of only0.07%.High yield saving accounts have APYs of 2% or more.For an idea of the diffrence that makes over time,consider $1,000 left in the account for five years.With a 0.07% APY,you wouldn't even be at $1,000 would be worth $1,104. That $100 extra just from switching up your account,and the difference could be even greater if you have more savings or keep the money in the account longer.
3.Wait before buying things you don't need.
If saving was a superhero,impulse buying would probably be its archenemy.Yet with all the advertising on every media platform,it's temptation many find hard to resist.You can increase your odds of doing so by instuting a mandatory waiting period before buying things off your want list.It should be at least 24 hours,but you may want to choose to wait longer.Use this time to ask yourself if you rreally need this item,if you need to buy it right now or if it could wait a few months,or if you could find it elsewhere cheaper.You might still want to buy it,but often,whn the initial "I must have this" feeling wears off,you'll realise it's not the best use of your hard earned cash.
4.USE CUPONS WHENEVER POPSSIBLE.
Whenever you buy anything,whether groceries,clothing,or hobby items,look for cupons to keep your cost down.Your local newspaper might have some for stores in your area or you can check online if you do most of your shopping there.Many stores enables you to subscribe to their email lilst for information on sales and cupon codes.This might be a smart play if you trust yourself to only buy what you need,but you're better off avoiding this if you're attempted to buy things just because they are on sale.
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