When you look at the calendar, you may notice that we are quickly approaching the gift-giving holidays and the end of the year. But then you may look at your wallet and notice that it doesn’t quite match up in terms of money for these events. Here are some quick tips to put a little extra coin in your purse.
- Check with your bank about opening an automatic transfer account. Set a goal and then each week have a small amount automatically transferred to your savings account. Don’t forget to name your account something fun to make it easier. Think “Future Disney vacation fund” or “RC truck for Christmas.”
- Save a dollar a week. If you save just one dollar every week, that adds up to $52 saved. Easy enough, right? Now think about saving just five dollars a week. That’s $260! OK, now how about $10..? Yep, that’s $520 saved at the end of one year simply for putting aside $10 every week. Easy.
- Start a coin jar– All that loose change really does add up. A coffee can filled with quarters can easily have $100 in it. Every time you get home from your day, empty your pockets into the coin jar.
- Save singles. Every time you have more than $4 worth of singles, put the extras in a safe place and do not spend them. Opt for a bank that has no opening other than a small slit so you can not grab them whenever you want.
- Go for quality, not quantity. When making purchases, sometimes you are better off spending a little more. For example, those $5 sneakers you found at the discount store may seem like a good deal. But if the soles fall off and you need to buy another pair a week later, it’s not worth it. Spend $20 on a better quality pair that will last a year or longer!
- Call your insurance agent– you never know when you may be eligible for a policy discount or credit. Just bundling your insurance policies can save you some money, too! Call us at 877-446-8351 to find out how to save on your insurance premiums. And best of luck in your savings endeavor!