You Have the Potential to Save More Money Than You Realize | St. Johns Bank

We all like the idea of saving money, but when it comes down to it, how many of us are actually saving money?

Our team at St. Johns Bank wants you to be able to put yourself in a better financial standing this year by learning easy ways to save more money in 2020.

Let’s take a look at some ways you can start putting more money back for a rainy day and retirement!

Be Realistic

The first thing you want to do is be honest with yourself. Do you know where your money is going? Chances are you do not realize how much of your money is going to unnecessary expenses that could be eliminated or minimized.

Therefore, take a good look at where your money is going—and see what you can live without. Then, start cutting out that unnecessary spending. Put that money into your savings instead.

Forget the Joneses

The Joneses don’t care about you, and you shouldn’t care about the Joneses. Rather than trying to keep up, challenge yourself to actually live below your means.

Just because you make around $5,000 a month doesn’t mean you have to spend $5,000 a month. And you should only spend money on things that make you personally happy and fulfilled, not on things that allow you to compete with neighbors or friends.

Deposit It Before You See It

We are all guilty of seeing how much money we have from our paycheck and considering using it for something we want but don’t necessarily need.

Before you know it, the money you were going to put back into your savings account went for that new dress you might wear to the spring fling.

Do not even give yourself the chance to spend your savings—go ahead and automatically put a certain amount of your paycheck back into your 401(k) or deposit it directly into a savings account.

If you don’t see it, the less chance you have to spend it. Out of sight, out of mind!

Are you ready to put more money into a savings account? Contact our team at St. Johns Bank today to learn how our savings account options!