7 Ways to Save MORE Right NOW

How are you coming along on your 52 Week Savings Challenge? If you are saving along with us we are now in week 44 (Crazy how fast time flew!)

8 more weeks and we’ll be wrapping this thing up – and hopefully the 52 week experience will make you more likely to carry on your savings by growing your Emergency Fund MORE… or perhaps putting away for one or more of your children.

44 weeks ago we decided to help you save through a series of small sacrifices (a little each week0 to put away for a larger Emergency Fund. Many of you mentioned that the challenge would be too difficult to do towards the end as the amounts are larger.  

While that could be true for some, just remember that saving and having that Emergency Fund should far bypass the need to buy “stuff” for the holidays. Although “stuff’ is GREAT, that same “stuff” isn’t going to save you in 2016 if your water heater should blow out, or if you truly have a dire emergency and need a fall back.

By December 1st, you will have $1,378 from your DEPOSITS – round it up, by throwing in a few bucks as you progress along and you will very well have over $1,400. 

AUTOMATE

Do this online OR at your local bank. Most banks allow you to open an account with as little as $25. Take it a step further and automate that account – don’t rely on yourself to put money in that account weekly… LINK that account to have that money come out monthly on the SAME day..  After a month or two you will forget you even established that account. .. and over time you will thank yourself for having made that step.

Change your Exemptions

I’m always baffled by people who love getting HUGE tax refunds… why?!  WHY would you let the government use your money ALL year and collect interest on what YOU could be making money on?   Take that huge refund you would usually get and put it to work through the year by changing your exemptions NOW, then use that money you have opened up to work harder for you by putting it in your own funds.

It’s easy money saved, that’ll benefit your pocketbook and not the pocketbook of someone else.

Eliminate your Cable  

We made that move years ago and it saves us HUGE money each  month. Remember too that just because you “bundle” doesn’t necessarily mean you are saving — by them encouraging you to bundle they are encouraging you to think that you are.. when in fact you may be just keeping services that would otherwise not be necessary.    Ditch the home phone, and stick with your basic cell.  Think you can’t operate in an emergency with cell phone? I have 4 kids and a husband and we haven’t had a home phone in 13 years — it IS possible.  

If you can’t cut it completely then see our tips for switching to an alternative service.

Use your Savings Apps

Re-route the money you earn through your apps to cash out straight into your Savings. Read HERE for more.

Reduce your Cell Phone Bill

Paying too much for cell phone? Call them to negotiate a lower plan ~ we did this over a year ago and it saved us $140 — we took it a step further and switched to a lower plan that had less features.. we haven’t missed anything yet.  If anything, it’s $140 MORE that we can stick in the bank every month.

We made the Savings Challenge printable too — click below & you can print the page to put on your refrigerator or in your office.

Grocery Savings

Take ONE your Grocery Savings from ONE trip per week (or, Month) and write a check for that amount to go into the bank – that ONE contribution each week (or month) will mount up over time. Perhaps it may inspire or challenge you to try to save MORE on future trips.

Start NOW

When we say “Start NOW” … we want you to sit down NOW and start. That means open an account today – with ANY minimum – if that’s $25 then that’s what it is.  Make no excuses, pick up the kids at school and drive to your bank to do SOMETHING. 

Once you get home .. make plans to Automate (above) so that your money can feed into that account you opened on a regular monthly basis. Sometimes, just starting is the hurdle.