It can often feel like the moment you get any money, it flies out the windows the next moment. Saving money is something everyone struggles with, especially when the bills start to pile up. Between paying for rent and paying for the week’s groceries, there isn’t always much room to allocate the remaining funds into an untouchable savings account.
Whether you’re supporting a family or living alone, there are a number of ways that you can start building your individual type of savings account. Set yourself up for future financial freedom using these 10 tips and tricks!
1. Live frugally
Transitioning to a frugal lifestyle can be difficult if you’re used to spending on whatever you want, whenever you want. Take fewer trips to the mall, eat-in more frequently, go with a well drink rather than the fancy cocktail options. Wherever you’re able to save a buck, save it.
“Too many people spend money they haven’t earned, to buy things they don’t want, to impress people they don’t like.” –Will Smith

2. Stop relying on credit
Swiping your card is almost too easy. Toeing the line between debit and credit transactions comes down to a last-minute touchscreen decision. Getting out of the habit of swiping your credit card will help liberate you from the immediate debts your purchases rack up.
“Do not save what is left spending but spend what is left saving.” –Warren Buffett
3. Stay on top of your taxes
There’s no denying it, tax season is tough. No matter how many times you’ve filed, it can feel like you’re always missing something. Dealing with an unpaid tax bill can cut deep into your finances with the possibility of wage garnishment or interest fees. Even though gaining access to tax debt relief with the Fresh Start program is a simple procedure, you’ll save time, money, and plenty of headaches if you make sure to stay on top of tax season 365 days a year.
“The habit of saving is itself an education; it fosters every virtue, teaches self-denial, cultivates the sense of order, trains to forethought, and so broaden the mind,” –T.T. Munger

4. Use the 24-hour rule
The 24-hour rule is simple— if you’re going to regret the purchase within a 24 hours span, don’t buy it. It’s as simple as that!
“Saving a small amount soon builds up to a large amount.”
5. Set spending limits
Where applicable, setting spending limits will help you budget better and resist the temptation of impulse buys. For example, your car’s gas tank will always need to be filled; don’t set a limit there. If you’re overdue for a new pair of gym shoes, set a reasonable price limit for a quality pair of shoes that will give you wear worth your hard-earned money.
“Being in control of your finances is a great stress reliever.”
6. Bring, don’t buy
In the habit of buying lunch every single day at work? Though it’s more convenient to buy a fresh meal every day, you’ll save heaps of money if you cook at home and bring leftovers throughout the week. Do the math— how much do you spend on lunch every day? How much could you be saving if you didn’t?
“Pay attention to your money. Pay attention to where it’s coming from. Pay attention to where you’re spending it. Just pay attention to it.”

7. Set up auto-pay
There’s no worse feeling that racking up an extra charge because you missed a bill due on the first of the month. Rather than leaving your recurring bills to memory, secure your ongoing payments by setting up auto-pay. No late fees, no problem.
“Rich people stay rich by living like they’re broke. Broke people stay broke by living like they’re rich.”
8. Save your change
It’s incredibly easy to spend one dollar bills and quarters on frivolous purchases, but if you made a more of an effort to stash them away, you’d end up with a pretty lump sum of money worth depositing into your bank account. A tableside glass jar for all of your lose change and small bills is an easy solution to start stashing loose money.
“It’s not your salary that makes you rich. It’s your spending habits.” –Charles A.Jaffe

9. Pick up a lucrative hobby
Maybe you’re got an eye for photography, or maybe you’re a wizard with words. Freelancing is a great way to generate side cash. Though it may take time to see serious income, you’ll still see financial rewards for your efforts along the way. Put all of that extra money towards your savings account and you’ll be looking at a glowing pot of gold in no time.
“If you buy things you do not need, soon you will have to sell things you need.” –Warren Buffett
10. Find an enticing savings plan
Certain banks offer incredible APY rates that earn you a monthly percentage on your deposited savings. In essence, you can earn interest on your savings—so the more you’re able to stash into savings, the more you’ll see pile up.
Saving money isn’t impossible, and these 10 tips are easy to incorporate for savers of all levels. What are your favorite saving tactics? Let us know in the comments below!
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