5 Easy Ways to Put Money in Your “Piggybank”
Saving money doesn’t have to be complicated. That’s the whole purpose of this website and blog. I want you to know that you can do little things each and every day to save some money and have a little nest egg. Below are some quick and easy ways to add to your “piggybank”.
Use Leftovers Creatively: Instead of tossing leftovers, repurpose them into new meals! For example, last night’s roasted chicken can become today’s chicken salad or soup. This cuts down on food waste and grocery costs. We usually shop at Costco, and we always buy two roasted chickens. One is for the meal that day, and the other is perfect to slice for sandwiches (instead of buying lunch meat), and once most of the meat has been eaten, the carcass is great for a nice chicken soup.
Automate Your Savings: Set up an automatic transfer (even $5 per week) from your chequing to your savings account. It’s small enough to be painless but adds up fast. My husband and I have been doing this since our kids were little, and it’s amazing how much we have saved by adding money to a separate account once a month.
Opt for Cheap Entertainment: Instead of expensive outings, look for free community events, host a movie night at home, or explore nature with a walk or picnic. When our kids were young, the local parks were our friends. We spent a lot of time there with the kids. In the town we live in, there are many free movie and music evenings at the town hall, free fireworks on July 1st (Canada Day), and different free events at our local community center all year long, along with different free events at our local libraries. All of your local events will probably be posted on your town’s or city’s website.
Pay Bills on Time to Avoid Late Fees: Set up reminders or auto-pay to make sure you never miss a due date. Even avoiding one or two late fees a year keeps extra money in your pocket. If you can avoid paying late fees or interest, especially on credit card bills, you will be amazed how much you will save.
Pay bills on time to avoid late fees.
Avoiding one or two late fees a year keeps money in your pocket.
5. Limit ATM Fees: Only withdraw cash from your bank’s ATM to avoid extra fees. Those $3–$5 charges add up fast! If you need cash often, withdraw a little extra at once. Be careful of how many transactions you make on your account, as well. Usually, banks allow so many transactions per month. If you go over that amount, you are charged a service fee. I’ve been caught with this a few times.
Automate your savings. Transfer a little bit of money to your savings account every week or month.
These are just some small ways to save a little bit of money but saving small amounts can add up to large savings. Keep at it. It’s amazing what can happen when you start looking at all the little ways to save!