Seven Tips to Boost Your Everyday Savings

Here are seven practical tips you can use today:

1. Pay Yourself First

Set aside a portion of your earnings every month to go into a separate account that you don’t regularly look at or spend from.

How to get started:

• Decide the amount you’re comfortable transferring to your savings every paycheck. This could be a percentage of your pay or a set dollar amount.
• Set up an automatic deposit from your checking account to your savings account at the beginning of the month or on the day that you typically get paid. TIP: Consider setting up a direct deposit to the checking or savings account where your savings is going so that you won’t even notice the savings being taken out.
• Use EasyUp^® to automatically save an amount that works for you — from 10¢ to $5 — that will be transferred from your checking account to your savings every time you make a debit card purchase.

2. Shop Online Using Cash Back and Coupon Tools

Cash back online shopping tools that allow you to earn cash back on purchases with major retailers. And whether your purchase is small or large, check to see whether there is a store, product or service coupon available. There are plenty of savings to be had that you might not otherwise be aware of, including apps and browser extensions, so find one that works for you.

3. Declutter, Sell and Save

Go through your home room by room and set aside things you haven’t used in a while or that no longer bring you joy. List these items on a resell platform or social media, or even have a yard sale. Tuck the proceeds into your savings account.

4. Freeze Your Spending

Review your purchases to identify a want versus a need — and try not to buy the “wants” for one week. Deposit the money you would have spent into your savings account. Once you have successfully cut out these purchases for a week, challenge yourself to go without them for another period and continue to put that into savings instead.

5. Pack Your Lunches

Buying lunches while at work can add up quickly but preparing your own lunches can significantly reduce this cost — and it is typically healthier too. Plan and prep meals ahead of time to avoid impulse lunch purchases and limit the number of times you eat out for lunch.

6. Grocery Shop With a Plan

Making a shopping list and sticking to it goes a long way toward saving money at the store, along with checking what you already have at home and preparing meals based on those resources.

Take advantage of grocery store loyalty programs and coupons, and if there’s a curbside pickup option, then that service can help prevent impulse buying too.

7. Start Saving Today No Matter How Small

Just the act of starting your savings is crucial — even small savings helps to establish and maintain invaluable spending habits. This includes:

• Spare Change
  Check frequently used areas around your house (think cup holders in your car, desk drawers and between couch cushions) and gather all the loose change you find. Put it in a clear jar and watch your savings add up. When the jar is full, tally it up and deposit into your savings account.
  
• Dollar-a-Day Challenge
  One popular challenge is to save a dollar a day. It’s simple, yet powerful — you’ll not only start building a habit of saving, but you will also see how small amounts can add up. If you start today and commit to a year of saving, then you will have saved $365 by the end.
  
• Weekly $ Saving Challenge
  Start by putting a dollar into your savings account in the first week. Then, increase the amount to $2 in week two, $3 in week three, and so on. Over the course of one year, you will have contributed a hefty amount toward savings. As the table below shows, if you start this week, then your savings will total nearly $1,400 by this time next year.