We’re almost halfway through the year (already!)—are you on track to meet your savings goals? If you’re still trying to answer the “how to save more money” question, we’ve put together our top tips to help you meet your goals!
Wondering How to Save More Money? We’ve Got You Covered
If you ask around for saving tips, the advice varies quite a bit. Although there are a few tried-and-true rules, how to save more money is ultimately a very personal thing. Before diving into our tips, it’s worth noting that there are no one-size-fits-all options. You’ll need to account for your situation, any debts you might have, and the doability of each idea before seeing if they can work in your life.
As with any kind of tip, the best ones for you are the ones that are easy to remember and make part of your routine.
Our Top Money-Saving Tips
Explore our top seven tips for how to save money and get you on track to meeting your financial goals.
1. Plan out your monthly expenses
If it helps, you can turn your monthly expense tracking into a kind of game. Challenge yourself to set a budget under your different categories (like “Food/Drinks” and “Transportation”) and stick to it—even if it means some creative spending at the end of the month! The way you track is up to you. You can go old school with a notebook and pen, track on Google Sheets, or use an expense tracker app. The end goal is to plan your spending and stick to the plan as much as possible.
2. Unsubscribe where possible
Have you ever checked your bank account and had a moment of frustration when an app or service you never use charged its annual fee? Keeping track of auto payments and subscription plans can save you hundreds in the long run. Apps can make it easy to track recurring expenses, or you can add subscriptions to your monthly expense planning and make a note when annual payments are due to come out.
3. Optimize for savings
Make the most of your money with programs like DEXSTA’s Free Kasasa Checking. With Free Kasasa Cash Back, you earn three percent back on everyday debit card purchases and refunds from ATM withdrawals. And opening up a Kasasa checking or savings account with us comes with perks like free checking with high dividends and cash rewards that transfer from your checking to a Kasasa Saver account.
4. Get creative with spending
If you find yourself closing in on your monthly budget, get creative! Try DIYing a relatively simple fix like hemming clothes or trying your hand at landscaping. Or, try some energy-saving tips like replacing your bulbs with LED ones, taking shorter showers, and riding your bike instead of driving. This applies to gift-giving as well! Show you care with baked goods, creating art, or making a gift basket with affordable favorites.
5. Be smart about your loan options
For bigger purchases like cars and homes or the unexpected ones (like emergency vet visits), a high-interest loan can throw a wrench in your savings goals. So do your research and look for loans with competitive rates, simple interest, and no prepayment penalties.
6. Try out a savings systems
If you struggle with keeping track of your budgeting, you might benefit from a savings system. Things like the popular Envelope Budget System help you visualize if you’re on track and make it easy to plan. Or try the five-dollar trick where any time you get a $5 bill, you stash it away in a container in your house.
7. Credit card smarter
We’d like to officially change the adage to “credit card smarter, not harder.” When opening a new line of credit, find options that don’t penalize you. DEXSTA cards have no balance transfer fees, annual fees, or over-limit fees. Plus, they have a 2.99% introductory rate.
All The Answers For How to Save More Money at DEXSTA
From stopping a streaming service to refinancing, there are many ways to approach the ‘how to save more money’ dilemma. At DEXSTA, we give our members the tools they need to keep track of their finances, be fiscally savvy, and find the best deals on loans and credit cards. We’re here if you need us!