Saving more cash is one of those things that take just a couple extra minutes each day, if done cautiously. These few ideas will help you save much more cash. Resource for this article: 4 easy ways to increase how much you save
1 – Save before everything else with direct deposit
Rather than having a direct deposit into your bank account, direct deposit into your savings account. Then, every month, transfer the cash you have budgeted into your checking account. When you go over budget, it is a lot more work to transfer the cash into your checking account, which might change your mind.
Good money management starts with fulfilling your financial obligations, including paying off outstanding bills.
2 – Set up regular contributions
Budget your cash as if it has never entered your account by setting up automatic contributions to your retirement or savings accounts. It will come out of your accounts electronically with regular contributions.
3 – Use money
Use money instead of a card. Debit and credit cards are there specifically to give you disconnect with money. With cash with your hands, you will see exactly how the cash is leaving you. You will be able to make real-time decisions. Only pull out enough spending cash for the budget that month at the ATM or financial institution.
4 – Adding up with a change jar
It could feel like an old-fashioned way to save, but a change jar can truly add up. Every night or morning, clean your pockets of all change and put it in a jar or container of some kind. Most banks have change counters that will deposit your cash directly into your savings or checking account without applying for any fees. If your bank does not have a change counter, then you can use a CoinStar or comparable machine to count your change for a fee.
