February 28, 2017
Margaret in Budget

3 Easy Ways to Save Money with Minimal Effort

Everybody wants to pinch pennies where they can, but putting together a budget can be a hassle. Not only do you have to put a great deal of time into creating a budget, but you also have to spend precious time updating the budget weekly. Those of us who do not have a spare half hour in our week will wind up just blowing off a budget and wasting money on needless purchases. However, there are easy ways for all of you busy bees to save some money! Read below to discover three easy ways to pad out your bank account without hardly blinking an eye.

#1—Pack a lunch to work

Believe it or not, buying lunch every day begins to add up. Purchasing a $5 lunch everyday on a standard 5-day work week will amount to $100 a month spent on lunch alone. Per year, that comes out to $1,200! Not to mention if you regularly spend more than $5 on a lunch, you’re looking at spending anywhere between $100 to $250 per month on lunch. Buying lunch supplies from a supermarket will save you boat loads of money per month. You can purchase enough lunch meats, cheeses, and bread for the entire week at a much lower price than purchasing a sandwich every day.  Similarly, if you are a coffee fanatic, then making your own coffee at home may also be an easy money-saving option for you. A medium cup of coffee will cost you anywhere from $2 - $4 depending on how extravagant the shop is. For that same amount of money, you can purchase a large tin of coffee grounds that will make dozens of cups of coffee.

Pack a lunch to work

#2—Use apps like Acorn

There are many money saving apps out on the market that can easily save you lots of money. One app in particular, Acorn, costs $1 per month and does not require any effort past the initial set up. Acorn will round your debit or credit card purchases up to the next dollar, and invest the leftover cents into the stock market. For example, if you made a purchase for $14.15 than Acorn will round that purchase up to $15 and invest $0.85 cents into the stock market for you. Over time, it will begin to add up in your investment account. All you have to do is continue to make purchases like normal, and watch your investment account grow!


#3—Schedule automatic transfers to a savings account

It’s easy to save money that you don’t have access to in the first place. An easy way to save money is to have your bank automatically transfer a set amount from each paycheck into a savings account. That way you will not miss that money, because you will never see it in your checking account in the first place. This money-saving strategy works for many people, because you get used to budgeting on a lower amount of money per month. Why not give it a go?

Schedule automatic transfers to a savings account