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Tricks to Saving More Money

The hardest part about saving money is doing it. You may have the best intentions, but when it comes down to it, you probably don’t do it. It’s all too common. Most people let savings come last when it should be the first thing you should do each month.

If you are tired of not saving or feel like you can’t save enough money, check out these simple steps to get you started.

Put Savings into your Budget

It’s hard to save when you don’t budget for it. Just like you budget for your mortgage and utility payments, budget savings. Ideally, you should save 20 percent of your income, but not everyone can do that. Start small – even if it’s only $25 - $50, but make it a line item in your budget and save it every month.

Set up Automatic Transfers

Don’t leave savings to chance. Once you budget an amount and know you can afford it, set up automatic transfers. Either ask your employer to set up direct deposit into your savings account or set it up with your bank account to automatically transfer to your savings account. The transfers are free and they ensure that you save every month.

Get out of Debt

The opportunity cost of debt is saving money. You won’t be able to get even close to the same rate of return on savings that you pay for the debt. While you should always save some money each month, use a larger portion to pay off the debt so you can save more in the future.

Find Ways to Cut Back

Are you aware of how much you spend each month? Many of us operate on automatic pilot and don’t realize how much we spend.

Pull your bank statements from the last few months and see how much you spend. Are you overspending in any categories or are there areas you can cut back? A few examples include:

· Refinance your mortgage

· Shop for lower insurance rates

· Negotiate lower credit card APRs

· Cut the cord on cable

· Cancel any unnecessary memberships

Bank Windfalls

If you ‘come into money,’ such as a work bonus, tax refund, or monetary gift, bank it. Rather than putting it in your checking account and spending it, deposit it directly into savings. If you have a large amount of money, consider opening an online high yield savings account. You’ll earn more interest and the money won’t be as accessible. You could also put it in a CD where you’ll earn higher interest rates and the money remains tied up for a specified period.

Saving Money Isn’t as Hard as It Seems

With a few small changes in your budget and lifestyle, you could save more money than you think. Even living paycheck-to-paycheck, you could put money aside. The sooner you start, the faster your money will grow. As the interest compounds, your earnings grow earnings, which increases your chances of hitting your savings goals.

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About Me


I am Certified Financial Educator and Author of Mental Wealth. I believe financial success starts in the mind. You mindset towards money will shape every decision you make. I have dedicated my life to helping others understand what mindset they need to win with money and build true wealth.


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