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3 Ways To Save Money Without Even Noticing

3 Ways To Save Money Without Even Noticing

Maybe you are saving up for your dream vacation, or even just the pair of shoes you have been eyeing. Whatever you are saving for, putting a little money aside can be challenging, especially if you’re already on a tight budget.  With these three ideas for saving, you will be shocked at how quickly your holiday tickets will be booked, and your new shoes on your feet.

1. Save your $5 bills

If cash is king in your spending habits, saving your five dollar bills is a relatively simple way to save a lot of money quickly. The idea is simple, anytime you come across having a five dollar bill in your possession, stash it away rather than spending it. You might be thinking, how often do I have five dollar bills, this can’t really make that big of an impact can it? You will be surprised at how often five dollar bills come into your possession once you start. When spending with five dollar bills is off-limits, more often than not you will be using bigger bills to pay, and in return you will often be given more fives as change, making your stash grow quickly.

The most challenging part of this idea is controlling yourself to not spend the five dollar bills. Keeping them out of sight, and out of mind helps avoid the testing moments when a five is the only bill in your wallet. Try keeping the fives in a different section of your wallet, or stash them in an envelope somewhere safe at home.

2. Match Yourself 

The second trick kills two birds with one stone. If done right you will not only grow your savings account but also keeps your splurging to a minimum. You can do this by doing what is called “splurge matching.” It is an easy concept; you just need to be able to identify the difference between “wants” and “needs”. Whenever you buy something that is a “want” you match the spending amount and put it directly in your savings account. For example, if you spend $3.40 on a Starbucks latte, $3.40 also has to go into your savings. This keeps you from splurging by making you think twice about what you are spending your money on that you don’t actually need. Weeding out anything that you are not willing to pay double for can save you a lot of money not only from matching but also on the things you decide not to buy.

3. Hack your debit card 

If you spend mostly by card, using a money saving app to hack your finances can make saving a breeze. Apps like Chime and Digit, do the saving for you. These apps create a personal savings account, and with the account, you can set up your personalized savings plans. They offer features like an automatic 10% deduction of any direct deposits, and rounding up on purchases putting the spare change directly into your savings. With the deductions happening automatically you won’t even realize that you are saving, making this one of the easiest and most effective ways to reach your savings goal.

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