At some point in our lives, we’ve all been in that same place. We’re reviewing our monthly credit or debit card statements and wondering “how on earth did we spend so much!?!”
It’s easy to get carried away with plastic. You just easily swipe to pay, and then you’re off in your busy life. We’ve come up with some super simple ways to start saving money or change spending habits, starting today! Don’t worry, you won’t feel deprived. These are just smart changes that anyone can use to start saving.
1. Get a Checking Account That Rewards You for Everyday Purchases
Savings accounts, CD and money markets are not the only things with rates anymore; you can get rewarded and save even with your checking account! NASB has a Rewards Checking option that earns a higher interest rate, based on account activity during that statement cycle.
2. Save Without Thinking via Direct Deposit
Set up a percentage of your paycheck to be automatically deposited into a savings account. Therefore, you’ll be saving without even thinking about it! But don’t just use any savings account. Shop around and look for an account that fits your needs. At NASB, we have multiple premium savings services and savings account options that include Performance Savings , Super Saver , and more!
3. Meal Plan on Grocery Store Sales
Food is one of the biggest expenses of the average U.S. household. This can very easily be decreased by eating at home instead of at restaurants. Follow your local grocery store sales and plan meals based on the deals of the week. You can even plan ahead by making breakfast for the week and making extra dinner for lunches the next day.
4. Wanna Eat Out? Find the Best Happy Hours!
When you do eat out, follow the deals! Happy hour specials are a great way to eat at restaurants on the cheap, plus you get to unwind from your workday without having to do the dishes.
5. Lower Your Expectations of Yourself
There is a great saying out on the internet right now that states “Stop trying to keep up with the Joneses, they are broke!” By lowering the expectations of yourself and your home, you may stop impulsive buying habits. Instead, make conscious, thoughtful decisions on your purchases. Ask yourself “Will this truly make me happy?” and “Am I buying this for me, or to impress someone else?”
6. Consider Buying Over Renting
Owning your home definitely has long-term benefits compared to renting. Not only are you putting your money towards an investment, but you don’t have to worry about losing your deposit by hanging up photos on the wall. Consider planning and budgeting for what it will take to buy your own home. Our home loan officers here at NASB are experts in mortgages and can help you every step of the way. Have questions? Check out our different home loan product offerings , programs for First-Time Home Buyers , or review frequently asked questions .