I don’t know about you, but I’m definitely in the business of making my life easier wherever and however I can. This is especially true when it comes to money—and saving it! Wouldn’t it be nice to save more money without even trying?!
If I can find ways to save money without even trying, you had better believe I’m going to take full advantage of it. Since I’ve been focused on money for some time, I’ve stumbled on a handful of effortless ways to save.
Lucky for you, I want to share those strategies with you! Whether these strategies are familiar or introduce you to a new money-saving hack or two, I hope this article sheds some light onto additional ways you can stack your chips! Keep reading for 7 ways to save more money without even trying!
7 Ways to Save More Money Without Even Trying
#1 Use Digit
Okay, if you’ve been following me for any amount of time, then you already know that I love Digit! In fact, love might even be an understatement! Digit has truly been a game-changer for me when it comes to saving extra money without even trying.
Here’s how it works: Digit is an app that links to your bank account. It uses an algorithm to monitor your spending habits, and will then transfer out small amounts of money—so small you won’t even miss it!
That money is then added to your Digit savings goals, and you can set up as many of those as you’d like, I currently have 3 goals set up: one is a Rainy Day fund (pretty standard!), one for “Just Because,” and one for a faster car payoff.
You can also add cute emojis to your goals to make it even more fun! Digit allows you to set a limit on how much it transfers out of your checking account, so you’ll always feel comfortable knowing they won’t take too much.
If you’ve never tried Digit before, get a free $5 on me for signing up! Also, check out the article How to Use Digit to Reach Your Money Goals for more tips!
#2 Leverage your bank’s savings features
Did you know that most banks and credit unions have features that can help you save more money? Wells Fargo has the “Way to Save” feature that transfers $1 into savings every time you swipe your debit card.
Bank of America has a “Keep the Change” option that rounds up every purchase to the next dollar and transfers the difference into savings. Chase has an “AutoSave” feature, and many credit unions offer cash back for debit card purchases.
My point is that you can take advantage of any savings opportunities available to you right in the bank you already use! You won’t have to worry about coming up with a savings plan on your own, and you get the added benefit of knowing you’re always saving a little extra without even trying.
#3 Familiarize yourself with any perks that come with your credit cards
I really wish I had leveraged credit card perks earlier. For example, I found out that my American Express card offered complimentary car insurance on any car rentals—I’d been paying for the extra insurance through the rental car companies for nothing! Had I done my research, I would have been able to save that money.
Shoulda, woulda, coulda. But now you can learn from my mistake!
If you have credit cards, be sure to familiarize yourself with all the free perks that come with them. You might have to purchase through the card to get certain perks, but if you were going to buy something anyway, it’s worth it for the savings (as long as you pay your card off in full!).
Check out 10 Credit Card Perks to Take Advantage Of for some common perks.
#4 Take advantage of employee benefits
Here’s another one that might blow your mind: you can save money by taking advantage of benefits through your employer! Nowadays, most companies offer things like tuition and childcare reimbursement, student loan payment matching, free therapy sessions, and more!
All you have to do? Show up to work every day like normal!
The first step is to make sure you know all of the benefits that are available to you as an employee—your HR person can fill you in, or there might be information in an employee handbook or online portal. Once you’ve found out what benefits you have, start taking advantage of them so you can save that money!
#5 Contribute the full match amount for your 401(k)
A common employee benefit, and one worth highlighting on its own, is a 401(k) contribution match. Many employers will match any 401(k) contributions you make, up to a certain percentage or dollar amount.
If you’re not taking advantage of the matching offered by your company, you are losing out on free money! Not cool! This is truly one of the easiest ways to save more money with no effort.
Saving for retirement is critical in and of itself, and taking advantage of the match contribution is a great way to save even more. 401(k) contribution and matching details are often provided when you first start a job, and you can always reach out to your HR rep if you’re not sure how to get started or make a change.
#6 Set up automatic savings transfers
I know this one seems obvious, but read on before you roll your eyes! Setting up automatic savings transfers requires a tiny one-time effort that permanently takes the work off of you while still saving you money.
Before you schedule an automatic savings transfer, take a look at your budget and see what you can afford to save. Automatic transfers are great, but if you can’t keep that money in your savings account, they don’t work as well.
The only way to keep money in savings is to make sure you’re only putting aside money you don’t actually need to spend.
We don’t want to get overzealous with savings and then not have enough for bills! However, once you know what you can afford to set aside and schedule the transfer, you will effortlessly save money from then on.
#7 Use credit card rewards for everyday purchases
Rounding out this list of ways to save money without even trying is tip number 7: use credit card cash rewards for everyday purchases! Do you have a credit card that gives you cash back? Then use that cash back option for things you’d already planned on buying!
Then, the money you would have spent on those things can go straight into savings. Like where my head is at?!
Related: 5 Steps to Take if You Can’t Seem to Save
There you have it! A handful of ways I’ve found helpful when trying to save more money with little effort. I hope you give one (or more) of the ways above a try!
Do you have any specific ways you save extra money? I’d love to hear them! Drop a comment below to share what works for you!
The CGS Team
2 thoughts on “7 Ways to Save More Money Without Even Trying”
You offered some great tips here! One way I save extra money without trying is to use an online money market savings account rather than a brick and mortar bank’s standard savings account for our emergency fund. The interest rates of online money market accounts are much higher than a brick and mortar bank’s savings account, thus making you extra money in interest every month! Thanks for the thought provoking post!
Totally agree Lisa! I love a good high-yield savings account!