How can you save when you don’t have a dime to spare? Here are some tips. Check the ones you plan to try.
□ Pay yourself first. When you pay your bills, pay your savings bill by depositing the money in your savings account.
□ Use payroll deductions. Have your employer deposit your savings directly into a credit union or bank account.
□ Save “bonus” income, tax refunds, overtime pay, gift money, refunds, and rebates.
□ Save coupon money. Save by using coupons at the grocery store. If you save $2 a week using coupons, put the “savings” (the money you did not spend) in your savings account.
□ Pay installments to yourself. Once you pay off a loan (and if others loans are not overdue), continue to make “payments” to your savings account. Try this for at least 6 months.
□ Collect loose change. Empty your pockets and wallet of loose change and place in a jar. Once a month, deposit the change in your savings account.
□ Break a habit. Save the money you didn’t spend when you make your own coffee at home and take it with you. Do you buy bottled water? Break the case habit, save $400 minimum a year.
□ Save lunch money. Get up 10 minutes earlier and make your own lunch. Save money you would have spent on lunch. ($10 x 5 =$50/week =$2200/year).
□ Save money on sale purchases.
□ Have a “nothing week.” Once every two months have a week when you try not to spend any extra money. Save the money you would have spent.