If you are tired of running out of money before you run out of month, you may need to trick yourself into saving more and spending less. Incorporating a few money saving tips and tricks into your everyday life can help you stretch your paycheck further while you build up your budgeting skills. Here are 7 tricky tips you can start using right now.
Keep the change – One of the simplest ways to trick yourself into saving money is to stop spending your change. Keep a change jar by the front door and empty your pockets every time you come home. Wait for the jar to fill up, then use it to fill your savings account.
Automate your savings – Set up an automatic transfer from your checking account to your savings account. Schedule the transfer so that the money moves before you get a chance to spend it.
Save your coupons – Use coupons every time you hit the grocery store, and keep track of the money you save. If you saved $15 on this trip to the store, pull $15 from your wallet and put it in your piggy bank or savings account.
Challenge yourself – Make saving money a game by challenging yourself. Start by putting $1 in your change jar this week, then $2 next week, $3 the week after and so on. It is a great way to save money and learn how to budget.
Turn impulse purchases around – The next time you are tempted by an impulse purchase, talk yourself out of it and put the equivalent amount of money in your savings account.
Use a cash rewards credit card – A cash rewards credit card is a great choice if you pay your bill in full each month. If you are not that disciplined (yet), look for a debit card that gives you cash with every purchase.
Set up a family challenge – Make saving money a family affair by challenging your spouse or partner to a savings contest. Set up his and hers change jars and see which one fills up first.
Saving money is not always easy, and sometimes it takes a bit of trickery to get the job done. In the end, you may only be fooling yourself with these money-smart tips, but that could be enough to jump start your savings.