Do you want to save, but not make a ton of money as it is? Rest assured, there are foolproof, simple ways to put away some of the money you make and still have enough for the basics (and a little fun). Save on even the smallest shoestring budget with these tips.
Invest. It’s easier than you think. Consider using a micro-investing app, such as Acorns, SmartyPig, or Digit. Acorns syncs to your bank account’s routing number so you can put money away daily, weekly or monthly via its Recurring Investment feature. Acorns also offers Round-Ups. Round-Ups takes the spare change from a purchase you make—10 cents from a $4.90 buy, for example – and invests that change for you. Ten cents may not seem like a lot now, but the small amounts of money you put away with RoundUps could turn into hundreds or thousands of dollars saved down the road, depending on how long you invest.
Budget. Budgeting can be easy and is probably the most failsafe way to ensure you don’t overspend. Go on Excel and view the various budget templates, which you can customize for your own personal expenses. Add an amount that you want to save each month to your budget, and stick to it. A monthly, or even weekly budget that you regularly refer to will help keep you on track and your spending under control.
Check your bank statement every morning. Rip the band-aid off. There’s nothing scarier than opening up your account after a weekend of spending to find that you barely have enough for next week’s groceries. Viewing your balance each morning will remind you how much you can afford to spend daily.
By using one or all of these tips, you are expressing an interest in saving, and off to a great start. Saving can be fun with heightened technology and a little bit of mindfulness each day. Your future self (and credit score) will thank you. Happy Saving!