Saving Money

Saving money can be a frustrating endeavor, especially when it feels like the bills are piling up faster than you can pay them. But saving money isn't just a good idea; it's absolutely essential.

Saving money is all about using common sense, and sometimes the best ways to save money involve small, incremental changes. Even things like switching to generic toothpaste brands and cutting back on 4-dollar lattes can leave you with a much larger balance in the bank at the end of the month. But if you really want to know how to save money, the answer can be summed up in one word: Discipline.

Benefits of Saving Money

Life is unpredictable, and a good nest egg can help you to weather the inevitable storms.

Besides savings for emergencies, though, there are actually numerous benefits to saving money, including: vacations, a cozy retirement, education, a growing family or an improved standard of living.

But it's easy to understand why you should put money away. The tricky part is actually understanding how to save money, and then zeroing in on the best ways to save money.

When you decide to become financially responsible and start putting money away, your first course of action should be to open a good savings account. Compare the best interest rates of different savings accounts, and bear in mind that some of the best savings accounts are online savings accounts online savings accounts due to low overhead costs of online banks. Keep in mind that some savings accounts require a minimum deposit.

How to Save Money

Make it a point to put money in your savings account every time you receive a check. Only you can determine how much of your paycheck you can afford to save, but the key is consistency. Even if you can only place 10 percent in savings, do it every time. Those small savings will add up.

If you want to put money aside for a rainy day, it's important to understand that your saving habits are directly tied to your spending habits. By trimming unnecessary expenses, you can save money without even trying.

It's okay to splurge once in a while, but in general, remember the value of your hard-earned cash and constantly be on the lookout for ways in which you can get the best values.

Just because you have a few extra dollars in the bank does not mean that you have to run to Las Vegas for a weekend of reckless spending. Saving is freedom.

Open a New Account

Explore Best Banking Rates

Most Read Saving Money Articles

10 Easy Meals Under $10 to Try This Weekend

Discover quick and simple recipes that are perfect for long and lazy weekends.

Read More »

How to Save Time and Money on Your Next Ikea Trip

Don't squander away your day or paycheck roaming around Ikea. Follow these tips.

Read More »

Hidden Traps That Cause Startups to Fail — And How to Avoid Them

Learn common pitfalls that can run your new business into the ground.

Read More »

15 Life-Changing Trips That Are Worth the Cost

Tour 'Game of Thrones' film locations, see migrating Monarch butterflies and more with these vacation packages.

Read More »

Worst Fees in America — And How to Avoid Them

Use these strategies to avoid paying unnecessary fees.

Read More »

21 Freebies, Discounts and Deals for Martin Luther King Jr. Day

Use these deals, discounts and sales to save money on MLK Day.

Read More »

Top 11 Affordable Food Trends to Watch for in 2017

Here are 11 culinary trends that could shape your meals over the coming months.

Read More »

No Business Like Snow Business: 15 World-Class Ski Resorts

Decide which of these premier ski destinations fits your needs — and your budget.

Read More »

These responses are not provided or commissioned by the bank advertiser. Responses have not been reviewed, approved or otherwise endorsed by the bank advertiser. It is not the bank advertiser's responsibility to ensure all posts and/or questions are answered.


Featured In: