How to Save Money And Barely Notice…

So, you want to save money, but you don’t have any to save? I hear this all the time. In fact, I have often felt this way myself. Turns out there are many ways to build that savings account, and not feel the pinch right away. And, that in itself is always a good thing! Nobody likes seeing big globs of money disappearing.

Now, see me personally, I use a few different methods to help bulk up that savings. If you have a Bank of America account, they still offer Keep the Change savings,  which we use. Honestly, I LOVE it. It automatically rounds your everyday purchases up to the next dollar and deposits the difference into your savings.  Pretty nice way to build it up and the only work you have to do is remember when you balance your checkbook to keep those little amounts in mind if those transactions haven’t posted to your account. Saving without thinking about it!!

I have seen various other methods over the years, and each one is great in it’s own regard. It just depends on what method will work the best for you. How do you want to go about it?

One method, is the basic change method. In this one, you simply save small amounts based one what day of the year it is. (YES, I said DAY… It is a daily version of saving.) How this option works is on day 1 you save $0.01, on day 2 you save $0.02, on day 3 you save $0.03, and you just keep changing the daily contribution to the amount of what day in the year it is times a penny. Once you get to the end of the year, you have saved up over $660.00!!  That’s a healthy chunk of change.

Another method is the 2 litre bottle method with dimes. Yeppers, don’t spend any of those dimes you get!! It may not add up as quickly as other methods, but it has it’s advantages. I mean seriously, a dime is NOT a huge amount to sacrifice for financial bliss. Once you have filled the two litre bottle you will have anywhere between $500-$700! Imagine what you could do with that! You could even intentionally get those dimes knowing you can’t spend them. If you ask the bank they’ll give you a roll of dimes (which equals $5.00). Think about it.

Then there are some people who save monthly. Not a bad method if you want a larger chunk at the end of the year. Only pitfall with this one is that you see it a bit more. It’s more obvious to your eyes that you’re lopping off big chunks of what you could be spending elsewhere in one big swoop. The most common version of this is saving $25 in month one, $50 in month two, $75 in month three, and just upping the deposit amount by an additional $25 each month. It definitely becomes harder to contribute towards the latter part of the year because that amount just keeps getting BIGGER. But, hey, if you can swing this method and keep consistent with it, by the end of 12 months you’ll have managed to save $1950!!

There is also saving a flat amount each month. The same boring amount as the month before and never changing it. But, this method can work and you can budget it in if you do a budget. If this is the way you take, make sure you set it up for automatic funds transfer when your check is deposited or, if you have the option, get it directly deposited into your savings account. The second choice is better honestly because then you won’t have seen it in your checking and then watch it walk away over to your savings. Most people that do this method do between $25-$100 each month. If you do $25.00/mo you’ll only save $300.00. If you do $100.00/mo you’ll save $1200.00. Each person/family’s budget is different and the method they choose will be different too!

So now I’ve shown you a handful of methods to help bulk up that savings account. Which do you think is the best?? Which do you think is the most likely method to keep you on your savings track? Let me know!!

Thanks for Stopping By!!!


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