How do you guys save money?

Started by Mirelle D.
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Micky H.

Honestly I use various apps to earn some side money along with any cash back rewards from credit cards to invest in the stock market. This is how I initially started and with time and effort it has grown considerably.

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Hoi W.

I have a weekly and monthly budget. Best way is to see all the expenses you are spending.

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Sheryl I.

I use a monthly budget and allocate a set amount of money to savings.

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Elena B.

I have a monthly budget with categories for both savings and sinking funds. I set a goal amount for my saving each year as a part of the budget. My savings are automated which means I never see the money so I do not miss it.

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Z R.

Two ways for me right now is
1) Same here @ Elena B. , having a recurring, automated set amount to savings has been a big help.
2) I find one thing in my groceries each week that has an equivalent, good quality store/related brand item for less $, saving the difference.
Every bit helps.

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Mesa M.

Its hard to save when you have stuff come up that wasn't there the week before and what is the best app to use for budgeting i can't find one at all. Can someone help me please, thank you

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Lisa P.

Smartypig for a high yield savings account and add reoccurring deposits.

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Cathy S.

Many elderly people need help with cleaning, errands and home repairs.
If you are able it is a good way to earn extra money

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Shannon H.

Take online $ earned from surveys and put right into a savings account.

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Shaina P.

First you must find your motivation. Next you must control your spending. Create a plan that includes every conceivable expense you may have and start building toward each one.

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Manuel M.

I started by getting a jar and saving all my change from the end of the day in there. Then I would count it and deposit it in a high yield savings or money market account in the bank.

Deleted user

Auto-deposit to savings. I have it scheduled just like auto-pay on a bill. I don't have to think about it and my savings account keeps growing!

Deleted user

I setup automatic deposits. I have also tried the 52-week savings challenge. I started with saving $1 and each week would add a dollar to the previous week's savings. Once a month I would deposit the monies saved into the bank.

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Nolan R.

Here are 4 ways your money can be invested to have your money work for you to generate more money.

1.) High Yield Savings Account, also called HYSA, is a way to have your money work for you and generate more money.
– I suggest 'Varo Bank' as a bank to consider for yielding the highest profit from your saved money.
2.) High Annual Percentage Yield, also called APY, Certificate of Deposit, also called CD, is a way to have your money work for you and generate more money.
– Examples of High APY CD credit unions:

  • Alabama Credit Union. 1.30% APY 5-year CD that anyone can join by donating only once $10 to 'Secret Meals Association' and keeping at least $5 in a savings account. Interest is compounded quarterly(4 times a year) on Jan., April, July and Oct. with a minimum deposit of $500.*
  • ConnexUs Credit Union. 1.01% APY 5-year 'Share Certificate' which is the same thing as a CD. Anyone can join by donating only once $5 to 'ConnexUs Association' with a minimum deposit of $5000. It's compounded quarterly.*
  • Golden1 Credit Union. 1.00% APY 5-year 'Term Savings Certificate' which is the same thing as a CD. Looks like anyone can join. Compounded 'monthly'(every single month) with a minimum deposit of $500.*
    3.) REIT, or Real Estate Investment Trust, is a way to have your money work for you and generate more money. Suggestion, Fundrise. Mobile platform that easily allows you to invest in eREITs and watch as it grows and grows.
    4.) The single best way to have your money grow is to save your money. Simply save money. No matter the amount. Just save.
  • Found on Investopidia
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De Laine R.

Started paying myself first. These last few months I’ve been taking 10% of my paycheck and moving it into a savings account. I just recently added a weekly $5 to my savings plan. In a few short months, I have about the same amount in savings that I’ve been investing with Acorns for more than a year. I should have been saving a long time ago.

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Chelsea H.

These are all great ideas. Christmas took my savings but I’m hoping to build it back up ASAP!

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