Do you ever wish you had a little extra cushion in your account? Do you desire to fill your checking with intent? Well, you are definitely not alone. People everywhere want the ability to store away more of their money. Although it’s true that most want to save for a rainy day or the unpredicted emergency, many don’t know the best way to go about it. We’re here to offer practical solutions and easy advice. In fact, here are 7 mega-awesome hacks for saving money like the pros.
Before we begin
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Hack #1: Look at your spending
The first hack for saving money like a pro starts by analyzing your spending. You need to track where your money goes so you can determine if you need to make any cuts. Sometimes, a simple transition away from your typical morning smoothie will save you $5 a pop. Put that into your account and watch it add up quickly and easily.
Hack #2: Prioritize
No one has access to unlimited income. Everything, at some point, must be prioritized. So, for our list of hacks for saving money, we suggest making a mental note of what needs to be paid from your income. You can only save from what’s left in the budget. Understanding your priorities will make sure things like rent and gas money are accounted for first, then the rest is utilized wisely.
Hack #3: Start small before going big
Ambition is great; however, attempting to save a huge lump sum at the very beginning could cause overwhelm. Thus, it’s better to start small before going big. Save little by little, every week, until it becomes a certified habit.
Hack #4: Create a savings goal
Moving on to the next tip, it also helps to create a specific savings goal. Creating a specific and attainable goal will help you to achieve it. Like mapping out a course on your GPS, you have to have a destination. Define the reason you want to save and write it down on a sheet of paper. Additionally, write an amount, as well as a timeframe. Then, tape that paper to your mirror. Look at it every day to keep your target on lock.
Hack #5: Lower some of your payments
Do you qualify for refinancing? If you do, a simple switch could lower some of your payments. As a result, you’ll have more money available to save. Check the terms of any loans you have and see what options you have available. Also, consider moving your home or auto loan over to a smaller APR. In fact, Achieva has auto loans with no pre-payment penalties and Guaranteed Asset Protection (GAP). View all the details here.
Hack #6: Avoid impulse buying
Nothing shrinks a bank account faster than impulse buying. To avoid it, make sure to plan purchases ahead of time. Have an allotted amount of money to use towards certain items and do not grab things on the fly. Just because you can buy it, doesn’t mean you should. Vowing to plan before you purchase is sixth on our list of hacks for saving money.
Hack #7: Use coupons or buy in bulk
If you really want some game-changing hacks for saving money, using coupons and buying in bulk is the way to go. Check out the flyers at your local stores to receive the benefits of dollar-saving coupons. Also, don’t forget to check around for seasonal opportunities.
Using our hacks for saving money is easy and practical. We discussed lowing payments, creating savings goals, and buying items in bulk. All of these practices together add up to larger provisions. And that is something you, and your accounts, can count on.