Simple Ways to Start Saving | St. Johns Bank
No matter where you are with your savings goals, there are many ways you can start saving today just by being more mindful of your purchases. Our St. Johns Bank team shares a few smart suggestions below.
Budget for Groceries
Budgeting for groceries is a smart financial strategy that can lead to significant savings. By creating a realistic budget and sticking to it, you gain better control over your spending habits.
Planning your meals in advance allows you to make a shopping list of necessary items, preventing impulsive purchases and helping you stick with healthier food choices. Comparing prices and seeking discounts or coupons further maximizes savings.
Additionally, buying in bulk and taking advantage of seasonal produce can reduce costs. A budget helps prioritize essential items and avoid wastage, ensuring efficient use of resources
Be Aware of Restaurant Spending
Did you know most American families eat out or bring home takeout more than three times a week? Being mindful of how often you choose restaurant-prepared meals can have a significant impact on your savings.
By tracking and analyzing your dining expenses, you become aware of any excessive or unnecessary spending. Making a habit of cooking at home more often and limiting restaurant visits can lead to substantial savings over time.
Still want to eat out occasionally? Choosing budget-friendly options, exploring happy hour deals or opting for lunch specials can help reduce costs while allowing you to enjoy having someone else prepare the food.
Think Before You Buy
To curb impulse purchases and save money, consider creating a list of items that exceed $25. Utilizing your phone’s notes app, jot down things you desire but can wait on.
This approach grants you valuable time to reflect on the purchase, preventing impulsive spending and potential regret. By exercising this simple habit, you develop a more conscious and deliberate approach to your spending, enabling you to prioritize your financial goals while avoiding unnecessary expenses. Taking a moment to consider your wants helps foster smarter purchasing decisions and contributes to long-term savings.
Thinking about opening a savings account? Contact us at St. Johns Bank today!