According to a recent survey, 66 million Americans have no savings for an emergency and 47% say they wouldn’t even be able to afford an emergency expense of $400. Which got us wondering: what are some of the best ways to save – even just a little bit – for something unforeseen?
Here are a few easy ways to build up your savings:
- Delay gratification: Ever been in a store or online and just had to buy something? When that happens, step away, give it two weeks and see if you still have the urge. Very often, if you wait, the moment will pass and you’ll save on an unnecessary purchase.
- List it: If you have a habit of falling into temptation at the supermarket, make a list before you go and stick with it. Or, give yourself a $5 buffer for a treat you really can’t say no to.
- Eat in: If you live in an area with a lot of great places to eat, you may be finding yourself making a lot of excuses for not wanting to cook. That’s fine once in a while but eating out can get expensive – particularly when you add a tip as well as gas to get you there and parking.
- Have a heart to heart with your credit card company: If you pay too much interest on your credit cards – and frankly, any interest at all is too much – it’s time to give them a call and ask to negotiate your interest rate. You may also want to consider transferring your balance to a balance transfer credit card, which cuts out interest on monthly payments so your entire monthly payment goes toward paying down the balance.
- Spring clean no matter if it’s spring or not: Invade your closets, drawers and basement storage. Anything you don’t wear, don’t use or forget you had should get listed on Craigslist, eBay or letgo – or donate it. If you’re old school, have a garage or yard sale. Then take the proceeds and pay down any credit card balance you have.
- Automatic savings: If your paycheck is deposited directly into your bank account, ask your bank to transfer a set amount to a dedicated savings account. Don’t touch it unless it’s urgent.
- Take the Shopper’s Voice Survey: We don’t often plug ourselves on the Shop Talk blog but we’re making an exception here. If you’re not a member or you haven’t taken our survey in a while, join and we’ll send you coupons, samples, and free stuff.
What are your most effective ways to save? Share your tips with the Shop Talk Blog community forum!
Did you know: Start early but start anyway
If you set aside $20 a week from age 22 to 67, you’ll save more than $330,000. Even if you start late, you can still save a lot – so get to it! (Source)
It’s so simple. If you don’t go shopping you can’t spend money. I’m a shopaholic so this one is a no-brainer for me.
I disagree with most other people’s ideas. Forget the list. Go to the cheapest stores & ONLY buy what is on sale (like the meats & produce that were left over yesterday & are now 1/2 price) We start out shopping in Dollar Tree where everything is only $1 & then go to other stores to fill in the things they did not have. Use coupons ONLY when it makes the item less than the store brand. Watch for the “lost leaders” & buy ONLY those & leave the store. Every 3 – 6 weeks Publix sells their yogurt at 20 for $1. Stock up then. Aldi sells toilet paper for 59 cent for 4 rolls. Why buy the expensive brands? I spend $50 – $100/wk to feed 9 people & we eat VERY well.
I ty for all the advice and plan to use it to help save.
I don’t mind that you plug yourselves on here, but honestly I have yet to receive any freebies from you.
Love to see any good offer and have the costumers….
I take my lunch to work everyday. Especially leftovers from dinner. This is a savings. I occasionally eat out for lunch. If I do, l keep it around $3-5 dollars. I cook oatmeal each morning for my breakfast. Hopefully saving about $20 per week
I can handle up ti $ 50,000.00 if necessary.
Have them do chores to earn time with the electronics….you will be amazed at how much they are willing to do
Make the time to sit down and do it!
I think this was some great advice. I need to do better with my finances. Thanks Shoppers Voice.
As long as you don’t give out my email to others I’m fine with that. Thanks.
Hi Jeanie, we don’t sell your email. We email you on behalf of advertisers who are offering something of value. We also use email to serve ads online. For more information on how we use the information you provided, please check out our Privacy Policy.
I save quarters. When it reaches $10., it goes into vacation savings for dinners out.
That’s how I save too
Put aside money instead of using coins for snack and drink machines put it into a Bank Account every little adds up
THANKS FOR THE GREAT IDEA
My husband has been on our daughter to save just a little bit. She is a single mom
Owns her own home,has a 401k plan at work and a pension from a former
Employer that will be $1000:00 per month. He does feel that she should have
An emergery fund for the unforeseen. Talking to her about money has been a sore
Point.
It is apparent that she is doing well.
Her 401k is evidence that she is saving.
However, it might be good if she could take a Dave Ramsey course.
Owning her own home means eventually she will have some home repairs and I can testify that they are expensive. Also having an operation or losing a job can cause loss of income and bills still have to be paid.
Your daughter doing great
Whlile I admire your advice to save money, INFLATION, caused by government action and GREED, erode the buying power of the dollar. Thus, the saver is SCREWED. The best ways to riches are:
( 1 ) Marry someone rich.
( 2 ) Select rich parents.
I don’t have enough to make ends meet so there is no way I can save.I am disabled and my income is very very linited.
Whenever I use my debit card, when I make the entry in my checkbook I round it up to the next dollar, there are some banks that will also do this.
I also have direct deopsit and I have money transferred every month into a savings account.
when I see something I think I would like or need I make a note, file it and several days later look at the list — usuaIy can’t remember what I wanted it for and I do not need it.
Don’t eat out alot I cook alot we shop for are food every 2 weeks my daughter buy for what we need weekly…….big help
I found taking this survey OK,,,GIL
No Problems
How do you win stuff
My favorite way to save it to do spring cleaning and tryin not to eat out as much
I try to save by not eating out all the time and not washing a lot
I try to save by not eating out all the time and not washing a lot