I don’t know about you but I don’t have hours to sit and cut coupons. And I definitely can’t afford to have a financial advisor to watch my spending every single day.
Simple tasks that you can incorporate into your life to save some money here and there is the ideal way to go!
And I’ve got a few tips to help you out.
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Know Where You’re Putting Your Money
For the longest time I had my money in a savings account that one, wasn’t worth the very small interest rate, and two, wasn’t giving me access to my money as often as I wanted it to.
Paying attention to where your money is going so that it fits your situation the best is so important. You could be wasting money on a bank service that may not be paying off as much as you’d like it to.
I have two main ways that I like to organize my finances to ensure that I’m making my money work for me.
#1 Having Multiple Checking Accounts
My bank provider allows me to have an endless amount of checking accounts so I can organize my finances the way I want them. A checking account is just like a savings account but without the interest rate.
And for me it made more sense to go with multiple checking accounts because,
- The interest rate was only an extra few pennies a month
- I have constant access to my funds without having to worry about how many times a month I can take money out of that account
This way I can have separate accounts for my bills, my fun spending money, everyday spending, emergencies, etc.
#2 Having An Online Savings
For things that I specifically want to save for I use my all time favorite savings app, Qapital!
Qapital allows you to create multiple savings accounts that connect directly to your checking account so whenever you want to add some money into to savings, or need to withdraw to use your savings on a purchase, you can!
It’s a convenient and easy way to save cash for specific purchase like a new laptop, a spring break vacation, a new pair of shoes you’ve had your eye on, etc.
You even get $5 for FREE once your first savings deposite has been made!
If you get to a point in your life when you’re living comfortable with your current finances you may be able to look into a premium bank account to see if it will work to your advantage.
Set Up Automatic Bill Payments
Missing bill deadlines. This is probably one of the most common reasons your bills are late because you just straight up forget! And not only can that affect you credit score, but it can cost you a pretty penny too.
As of now I only have one bill that isn’t set up as an automatic payment. Once you move out on your own, your monthly calendar turns into a bill chart. And if you have a bunch of events going on it’s so easy to forget that you have a bill to pay.
It may also be that finances are tight and you won’t have the money to pay the bill until right before it’s due.
Other than setting up automatic payments, here are a few other things you can do to ensure your bills get paid on time.
- Mark all your bills in your planner
- Set phone reminders
- Have the dates in a place you’ll see everyday (bathroom mirror, fridge)
- Look into helpful services like CVS MoneyGram service
There are soooooo many ways to score deals on the products that you buy on a regular basis. Something as simple as a grocery trip can SERIOUSLY hurt your bank account.
I had no idea how expensive food really was until I moved out.
Now, no matter what I’m buying, I’ve got my tried and true money saving helpers to keep my bill as low as physically possible.
Ibotta – Get cash back on your grocery store runs (You get $10 for free just for signing up!)
Ebates – Get cash back on your online purchases (A lifesaver for late night shopping plus you get a bonus $10 after your first purchase!)
Checkout 51– Get cash back on your grocery store runs
Target App– Get discount offers while making your target run
I never make a purchase anymore without first checking to see if there is anyway I could get the products at a cut price to save some cash!
Make Your Life As Easy As Possible
Being in your twenties is already hard enough without having to worry about how to save money constantly. Making a few small changes can can have a huge effect on not only your finances but your everyday life.
If you find a better way to manage and save money, you might have some extra money leftover to go to more fun events or to treat yourself more during the month.
Make your life as easy as possible and save some money a long the way.