Everyday Moneysaving Tips | Cleveland Bradley County Teachers Federal Credit Union

Saving money is one of those things that we all know we need to do. It’s kind of like getting enough water in a day—something we hear about, think about and generally want to do, but when it comes down to filling up our cups and drinking the water, it can be pretty challenging.

There are countless tips and advice columns on the best ways to budget and save money. You can even break it down by what you are hoping to save money on and still find endless amounts of advice.

When it comes to making a difference in our budget, saving money needs to be a regular part of our day. So, how do we do it?

What Actually Works

Creating a budget is one of the top moneysaving pieces of advice that is handed out. But budgeting comes in many different forms, and it isn’t always the easiest thing to jump into when you have had no experience.

The best budget is one you will stick to. Whether that is writing down every single expense or creating general categories to spend from, you need to do what works for you. Figure out where you are comfortable, and then do your best to take a deep dive into what you are spending your money on. This is the easiest way to see where excess is that will be simple to cut out.

Creating a budget that you will actually use is a great first step to working saving money into your everyday life, but don’t stop there. The easiest way to build a savings is to do it without thinking about it. Set up an automatic deposit into a savings account each month. Even if you are only comfortable moving a few dollars over, in time you will have a fund to be proud of.

Setting goals is another financial step that is simple to take and will work over time. If you have debt, create a goal for paying it off. This can range from a few months to several years—either way, when you set a goal you are more likely to stay focused on reaching it. Debt shouldn’t be something we put on the backburner and forget about. Challenge yourself to increase monthly payments or to make chunks of payments regularly in order to get things paid off faster.

Prep Yourself

Putting some work in on a budget and goals lays a solid foundation for creating everyday moneysaving practices. When you know what you are spending your money on, it is easier to cut back, or increase, your expenses in order to make the most out of your finances. It may be a great foundation, but when you are out and about and the coffee at the shop smells so good, saving money is a whole different game.

Keep up with your moneysaving practices every day by preparing before you head out the door. Make a grocery list and stick to it. If you know what temptations (hello, speciality chocolate store) you are going to be around, set a budget for them rather than trying to resist all together. Avoid window shopping as much as possible and instead stick to getting exactly what you need.

The more you can take the stress out of saving money, the easier it will be. Write it down, plan it out and then give yourself some grace. Every day is a new opportunity to build your savings more.

Ready to create savings accounts that you can sit back and watch grow? Contact us to make your finances simple.