Simple Ways I Boost My Savings Every Month Without Stress
We all want to watch our savings account grow and grow, but for many, this is more challenging to achieve than it should be. I have definitely struggled in the past to save money. It has taken me decades to reach the point where I feel financially savvy and knowledgeable about savings. So, I wanted to share a few of my really basic tips and tricks that I use to save money every month. These methods work for me, so I hope they will work for you, too, because having financial security is one of the best feelings ever.
Save For Something
For years, I tried to put money in my savings account just to have it on hand. This strategy was not a good one! I would skip saving money because it really had no hard purpose. Why would I put money in my savings account just for it to sit there? There were so many better ways to use it!
Once I gave that savings account a purpose, it became a lot easier for me to deposit money into the account. Having something you are saving for will help you mentally, as you can quantify the money you are saving compared to the amount in your account. Tell yourself you need to save $500,000 for retirement or that you just need to get $500 to buy a new TV. You will quickly find that it is a lot more fun to save money when you are working toward an achievable goal. You’re less likely to give up on saving when you have a clear, tangible goal to work toward. This was definitely true for me!
Automate Your Savings
This one was a big help to me. I used to think I’d save whatever was left at the end of the month, but you can probably guess how that went…there was never anything left. Then I heard someone say, “Pay yourself first,” and it just clicked.
As soon as I get paid, a set amount is automatically transferred into my savings account. It goes straight from my paycheck to my savings, and I don’t even have to think about it! I also don’t miss the money because it’s gone before I even notice it. Even if it’s just $50 or $100 a month, the amount adds up quickly. When the money isn’t in my checking account, I’m less likely to spend it.
Track Your Spending (But Keep It Simple)
I used to think tracking my spending was a hassle. Who wants to keep track of every single receipt and every expense? No one! It is time-consuming and annoying, but let me tell you something: once I started doing it, I realized how eye-opening it is.
The first time I looked at where my money was going, I was shocked. Did I really spend that much on takeout and random Amazon orders? Yup, I did.
Now, I keep track of my spending in the easiest way possible. I use my bank app to categorize purchases, and once a week, I take five minutes to see where my money went. I don’t micromanage every penny, but just knowing where I’m overspending helps me cut back without feeling overwhelmed.
Cut Back on Unnecessary Subscriptions
I bet you have heard this savings tip before, but have you actually used it? I admit that this one is challenging, but it is worth it. One day, I sat down and looked at all my subscriptions, from streaming services, fitness apps, and meal kits to everything in between. I realized I was paying for things I wasn’t even using anymore and didn’t even miss.
I canceled a few services I didn’t need, and suddenly, I was saving $100 or more every month. I now only keep the subscriptions I actually use, and I make it a habit to review them every few months to see if there’s anything else I can cut.
There are apps available that can use your name and email to search for the subscriptions you are signed up for, or even check your bank account. You may be paying for something you don’t even know about! That needs to stop, and that money needs to go back into your pocket.
Find Ways to Make Saving Fun
Saving money used to feel like a chore to me. Most people do not want to save money but want to spend money! However, when I decided to make saving more enjoyable, my whole outlook changed. One thing that’s worked for me is turning saving money into a challenge.
Recently, I did a challenge that I said was a “no-spend weekend.” I decided to try not to spend any money for two days. It was a whole lot harder than I thought it would be, but after the weekend, I still had a good amount of money in the bank! I also did a $5 bill game, taking any $5 I got and putting them into a jar. It might sound silly, but it’s kind of exciting to watch the jar fill up or to see how much I can save and how long it takes to get full.
Saving money can be fun, and if you are having a hard time boosting your savings, I suggest you think of a way to make it exciting. Life should be fun, after all!
After practicing these little tips and tricks for several years, I can confidently say that I enjoy saving money. My bank account has grown, and I no longer feel the need to buy stuff all the time. I get excited when I am able to save!
These tips don’t require big sacrifices, and I still treat myself to fun things, so I don’t feel like I’m living on a strict budget. The difference is that now I’m much more in control of my money and no longer spending carelessly. I am in a ‘saving’ mindset, and it is amazing!
If you’re struggling to save money each month, try to start small. Pick one or two of these tips and give them a try. You don’t have to overhaul your entire life overnight! Try to make a few little changes, and I know that once you see your savings grow, even a little bit, it will be incredibly motivating. Before you know it, you’ll have a nice cushion that gives you peace of mind and opens up more opportunities.
