Moneysaving Strategies for Your Day-to-Day Life | St. Johns Bank
Saving money is something that is a good habit to get into both for your peace of mind and your financial future. Having a solid emergency fund, saving for the future and knowing that you have the ability to cover unexpected expenses that may pop up in life are all great things, but if you are struggling to find wiggle room in your paycheck, it can seem next to impossible.
Fortunately, there are plenty of ways you can save money in your day-to-day life that might be easier than taking money out of your income. By getting creative with your saving strategies, you can often find money where you did not realize it was before and ensure you are building your savings without inconveniencing your life. Read on for our favorite tips!
How to Save Money as You Go About Your Daily Life
Pay off your debt the smart way. If you have to pay down debt, such as credit card bills, student loan payments or a car loan, you may be able to save money by paying it down in a smart way. If you have loans with different interest rates, it may benefit you to prioritize paying off the one with the highest rate first and only pay down the minimums on the rest. Depending on your current interest commitments, the savings might be major.
Take advantage of free resources. There are a lot of free resources out there if you know where to look! For example, libraries often offer far more than books and can be a great resource for movies, magazines and even DVDs, which could translate to big savings on streaming services. You can also often find great, free offerings on Facebook Marketplace or Craigslist—often people who are moving or downsizing will give things away instead of throwing them in the dump!
Consider switching cell phone plans. Cell phones have gotten ridiculously expensive in recent years, so more people are looking for alternatives to the large companies. See if you have a regional carrier in your area that offers discount rates—oftentimes, you can buy a refurbished, unlocked phone and take it to any retailer for service, which is a great way to save!
If you need help setting up a savings account so you can get on track with your goals, we can help! Contact us today to see what types of accounts we offer.