Sometimes saving money feels harder than it really is. There are certain, simple ways to save and be effective with it. Thinking outside of the box can certainly help you get creative when it comes to saving. Check out 5 simple ways where you can cut back and save more money. Sure, these savings may not seem like much right now, but when you start saving consistently it will add up over time. Get ready to watch your savings account grow, City Girls!
Simple Ways to Save
Switch Bank Accounts
This has to be one of the easiest ways to save more money. Most people don’t understand the power of online savings accounts and how much more money you could make. Standard banks like Bank of America, Wells Fargo, and Chase typically offer anywhere between .01-.15% in interest.
Ally Bank and other online banks offer up to 2%! Let’s do some math to see how much more you could be saving. If you had $1000 in an account from Chase, you will earn 2 cents. If you had the same amount in an account from Ally, you will earn $2.
Negotiate Your Interest Rates
Another way to save money is to negotiate your current credit card interest rates. If you have been good about paying your credit cards on time, then your creditor will be more likely to negotiate with you. Give them a call letting them know that you are diligently working to pay down the balances.
Ask them if there is any way your interest rate can be lowered. Even if it’s a difference of 1%, you can save some serious money not paying that extra interest. If they say no, that’s okay. Keep doing the right thing and reach out and ask again.
Invite Friends Over, Instead of Going Out
We all love going out to eat with friends or catching up over drinks, but who says you can’t have the same amount of fun inside the house? Invite your friends over to make homemade cocktails. Ask each friend to bring one ingredient, so the cost is divided evenly. Break out some candles and simple finger foods to make it feel more like an outing.
Cutting back on spending money at restaurants and bars can save you serious cash in the long run. This is just one of the ways to save and keep it financially light. There are plenty of ideas. Check out 100 Ways to Cut Back for a list to start with!
Get Up 5 Minutes Early to Pack Lunch
Be honest, is laziness one of the reasons why you don’t pack a lunch for work? Stop wasting those groceries and start making a lunch for work! Set your alarm for 10 minutes earlier (5 minutes for snoozing and an extra 5 minutes to wake up and pack your lunch). Spending money on food every day, even if it’s fast food, adds up over time.
Use Your Crockpot
One of the handiest cooking tools is the crockpot! Not only can you make healthy food with minimal effort, you can make enough to last you a few meals. Start buying ingredients that can go in the crockpot. You can avoid spending extra cash on meals because you can eat your yummy crockpot leftovers.
When it comes to saving money, the options are endless. We shared 5 ways to save, but there are so many other ways to cut back. Set yourself on a budget to see where you can save yourself some money! City Girl Savings can help with that! Check out the Budgeting Services available to members. What ways do you save money? Where do you think you can cut back? We want to hear your thoughts, so leave a comment below to share!