Easy 'sneaky' ways to save! - DC News FOX 5 DC WTTG

Easy 'sneaky' ways to save!

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Saving money should be a no-brainer. We know it's the right thing to do, but it can be really challenging for a lot of us. What if you were tricked into savings?

Did you mom ever say that you're going to nickel and dime yourself into the poor house? It's the mind frame of, 'Oh it's just a dollar'. Or, 'Sure, I'll buy it, it's only five bucks'. It does add up. So let's take the advice of a lot of mothers out there and turn that pocket change into savings.

Let's start with your grocery store receipt. Pull it out. You've used your coupons. The receipt says that you saved, say, $1.36. Now take $1.36 and toss it into a change jar. Actually save it.

And now that we have the change jar out, let's take it one more step. Empty your pockets and drop your change in there every night. It adds up. Let's say you collect $10 a week. Doesn't sound like much, but at the end of the year that is $520. That's Christmas shopping money.

Here's another trick. Try the random number challenge. Pick a number, then look at your cash and whichever bill's serial number ends in the same number, then drop it in the jar.

This all compliments the traditional ways to save by taking your raise and putting it into savings, by using direct deposit to add to your savings account and by putting those credit cards away.

But you can always do more. So, let me give you one more idea. It's called the calendar challenge. People here at Fox 5 do this one.

The first week of the year put $52 into savings. The next week contribute $51, the next $50, and so on. At year's end you'll have $1,378 saved for something big like a vacation.

And one last idea: If you have Bank of America account, look into a program called "Keep the Change."  It rounds up debit card purchases to the next dollar then deposits that difference right into your savings for you.

 

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