A recent article showed that around half of all Americans do not have enough money on hand to cover a $1,000 emergency. They do not have $1,000 in any savings account—and that’s pretty bad news. Without a savings account, you are basically guaranteeing yourself to end up in debt the moment tragedy strikes.
Unless you literally are just crawling out of tragedy right now, there’s absolutely no reason for you to have no savings left. You don’t even need to sacrifice your lifestyle to get money in the bank. Don’t believe it? Here are some of the easiest ways to live la dolce vita without having to sacrifice savings.
Always check for online coupons before you buy stuff.
A wise, wise person once said that anyone who buys full sticker price for anything is a fool. When you have sites like RetailMeNot, you really don’t have an excuse to pay full price for a lot of stuff. Couponing works wonders for getting things on the cheap.
If you do mobile shopping, cashback apps like Ibotta can save you bookoo bucks.
I’m a huge fan of Ibotta. This app has given me over $100 in cash back on shopping items that wouldn’t really have been affordable to me otherwise. To make this into a hack that boosts your savings, just deposit all the extra cash into your savings account.
Buying in bulk works, but only if you do the math.
A lot of companies are aware that people buy in bulk to save money, and so, they use that to their advantage by preying on people who don’t do the math behind the savings. Pennies add up, but people don’t often see that.
If you would pay $36 for a 12-pack of energy drink, but you pay $2.50 at the gas station, you’re losing money by buying in bulk. If you buy something in bulk frequently, compare the unit price versus what you’re paying to make sure you’re getting a better deal.
Don’t be afraid of Groupon.
Groupon may have a bad rap with retailers, but that doesn’t mean that you should totally cast it aside. If it means that you can use the money you saved as a financial cushion, it’s worth a shot.
Automate your savings.
A lot of savings account apps now allow you to automate your savings, so you don’t even have to take the time. Qapital, Acorns, and other apps all allow you to round up money you spend while saving the difference for you.
Some, like Acorns, put it the extra cash in an investment account. Others, like Qapital, put it in a bank account. Either way, it’s a good way to mindlessly save money and will help you get more cash in your account without stress.
Buy quality, not quantity.
Over the long run, quality clothing and items will last longer and do more than cheap stuff. By veering to high quality, durable goods, you end up boosting your savings by not having to replace your shoes, bags, and clothes every five months.
Find out what you’ve been wasting money on.
We all have at least one or two subscriptions that we don’t use anymore. Cutting those out of your budget and placing that extra cash into savings is a quick and easy way to save as much as hundreds every month. Some apps like Billshark will even do the hard work for you!
Learn about taxes, and use that knowledge to your advantage.
Learning about taxes can be a pain, but that doesn’t mean that you shouldn’t do it. Knowledge is power! A lot of people could use a slightly different lifestyle that could save them serious cash by April 15th.
Don’t be discouraged just because your savings account is $0 right now.
I’ve seen a lot of people throw their hands up and quit just because they couldn’t keep their savings up. Don’t be one of those people. Every little penny counts.