Are you tired of feeling like your savings account is stuck in neutral? You’re not alone. But with the right strategies in place, it can be downright effortless. Let’s take a look at a few simple ways you can save more money:
- Automate your savings. Set up automatic transfers to your savings account from a checking account or your paycheck. That way, you can ensure that you save money without the temptation to spend it elsewhere. Consider setting up separate savings accounts for different financial goals, such as emergency funds, travel, or a down payment for a home.
SMART IDEA: Sign up for Quail Creek Bank’s Q-UP Program. Then, every time you buy something using your Quail Creek Bank debit card, we’ll automatically round up your transaction to the nearest dollar and transfer your change to your Quail Creek Bank savings account. Over time, your change will add up.
- Cut utility costs. By adopting energy-saving habits daily, you’ll do your part to save the environment and see your utility bills drop over time. Turning off the lights when not in use, unplugging electronic devices, or adjusting your thermostat can do a lot to help you save monthly. You may also want to swap out appliances for more energy-efficient options or switch out your light bulbs to reduce your electricity consumption and save money.
- Cook at home. Dining out can quickly destroy your budget, so consider cooking meals at home instead. Plan your weekly meals, create a shopping list, and buy groceries in bulk to save money on food expenses. Cooking at home saves you money, helps you make healthier meals, and reduces food waste.
- Use coupons and cashback rewards. Take advantage of coupons, promo codes, and cashback offers when shopping online, in an app, or at a store. Websites and apps like Honey, Rakuten, and Ibotta offer discounts and cashback rewards on purchases from various retailers, helping you save money on everyday essentials and discretionary purchases.
- Avoid banking fees. Maintain a minimum balance in your account (or other requirement) to waive monthly fees or switch to a fee-free checking account. Automate bill payments to avoid late fees and set up direct deposit to qualify for fee waivers. Regularly review your account statements to catch any unnecessary charges and dispute them promptly. And use your bank’s ATM network to avoid fees.
TIP: Quail Creek Bank only has one location, but you can use any ATM, and we will refund up to $25 per month in ATM fees. And it’s done automatically at the beginning of the following statement cycle.
- Budget and track your expenses. If you’re looking to save for a particular purpose, the best way to save is to set up a budget and track where you spend money monthly. Maybe you’re dining out too often or have unnecessary subscriptions (things you don’t use anymore). The easiest way to track your budget is through a mobile app. At QCB, you can set up a budget and track your spending through online or mobile banking.
- Use the 24-hour rule. Before making a non-essential purchase, wait a day. You’ll be surprised how many impulse buys you avoid, leaving more cash in your pocket for the things that truly matter.
Adding to your savings doesn’t have to be complicated or overwhelming. By implementing these simple saving strategies in your everyday activities and taking advantage of all the savings options available at Quail Creek Bank, you can steadily build wealth and achieve your financial aspirations. Whether you’re saving for emergencies, a dream vacation, or retirement, we’re here to support you every step of the way.
