Ways to save with minimal effort
You know how important it is to save money — be it for an emergency fund, a house, retirement, or all of the above. So why not make the saving process as easy as possible? Here are a few handy tips to help you stash cash with minimal effort.
- Auto Save. Impulsive spending is the enemy of saving. Put a crimp in your ability to spend by setting up auto deposits into your workplace’s retirement plan. Make sure you’re putting in at least enough so that you can earn the company’s match (if there is one).
- Trim Subscriptions. Go through your monthly bank and credit card statements and identify subscriptions that you don’t actually use. Chances are you’ll find at least a couple monthly charges for services you don’t even remember buying in the first place. Cancel those subscriptions and funnel that extra money into savings.
- Use Loyalty Clubs. Many retailers offer consumers loyalty perks. Sign up for the membership club and you can earn points each time you spend. Some credit cards obviously do this, but we’re talking about free clubs — like the ones offered by most grocery chains. A quick sign-up is all that’s standing between you and savings.
- Round It Up. Try using an app or program that rounds up expenses and then deposits it into a savings account or an investment. There are a number of these — as US News reports. It may be worth it to check them out.