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)
Let’s see how it goes
I’m pretty good at saving money, however, my husband is not! I’ve encouraged him to save and not buy things he doesn’t need. I told him that when he seen something he wanted he should not buy it and put the money away instead of getting something he didn’t have to have.
I shop very wise and use coupons and get samples
Finance has never really interested me, I was never taught by parents, I’m comfortable, thank you…..
I need to save money and quit shopping so much.
Gave me an incentive to do a couple things that I’ve been planning on doing anyway and it gave me a couple ideas that I did not know about I hope I get to start to save money better maybe get a home equity loan because I own my house that’s my goal within the next 6 months within the next 3 months I would like to get the loan so I better start saving Rite?
I am trying for my social security disability car was repose after I lost my only child in 2015 I am in therapy and see my psych Dr. For my meds and therapy saving money has been a struggle I quit my job tried 2 more I couldn’t deal with it I had breast cancer in 2016 but losing your only child is the worst.
I find myself always having trouble with saving money but i am going to try a few of these a try
the ONLY way to save money is to NOT spend it, but to put it into a DISASTER fund. A new tires fund, in cash, in the can on the bookshelf, for instance, accumulates a dedicated balance. If I pull out left-over balance in the checking account each month, I can stockpile it.
Saving money. Sounds good could use any ideas ! Thank you
I can’t save as soon as I get any money something breaks
I really don’t have a problem with finances. As for cars after I had an $1800 repair on a 2007 car, I now lease for 3 years, same as the warranty lasts. Then I lease another. Also a lot of dealers don’t tell you if you need a higher mileage lease the cost isn’t that much. It usually goes up in 3,000 mile increments.
Never have to worry about repairs.
I am trying to save money by paying extra on charge cards and adding to savings acct each social security check
Love and hiphop
Give me more sales ?
.I love sales?
Sales make it easier to save
I love taking surveys. Last year I won a tablet. I hope to win something again.
I hope to win prizes.
Instead of paying for car repair insurance on my vehicle, I pay myself $125.00 per month. It adds up. Even with the car insurance, if something should happen, there is always a $100.00 deductible. I needed tires for my car and used some of the money for that necessary purchase. Car insurance would not have paid for that. I know that it is taking a chance, but since I am retired, driving a 2010 Buick LaCrosse, and having only 54,000 miles on the car, I think the chance is worth it. You need to weigh the odds of something serious happening, and the condition of your vehicle.
I was in the habit of using money saving grocery coupons every week until the coupon sites changed the way of getting them from a coupon printer app to a cell phone (some charge you) request for a coupon Code. This only keeps working if you do not clear your cache and/or cookies. Not having a cell phone makes this new method impossible for me to use. Thanks for nothing coupon.com and all other coupon sites.