Saving money in today’s world is vital to protecting yourself from unstable economies and unexpected events. It’s something that many overlook until the problem emerges. Here are 5 best ways to save money in 2019.
5 Best Ways To Save Money In 2019
1. Automate Savings.
There are a few ways to automate savings. It’s one of the easiest and best ways to save money, without having to think about it.
One way is to set up a direct deposit from your earnings account into your savings account, the same day you get paid.
Another way is to automatically round up your payments and add it to your savings. When you think about the number of card payments you make on a daily basis, it starts to add up quickly.
2. Add an Extra 1% To Your 401(k) Plan to Save Money.
401(k) plans are a great way of setting yourself up for the future, and by adding an additional 1% of your paycheck you can increase your retirement savings significantly.
There are a whole heap of different 401(k) plans you can open and also various tools to manage one with.
The reason why this is one of the best ways to save money is that you can’t just tap into this money whenever you feel like buying and new outfit… there are restrictions and penalties for withdrawing money prior to retirement age.
3. Open a Savings Account.
If you haven’t already opened your own savings account, then this should be your first step. Having a separate account to your spendings/daily is a must.
There are many options when it comes to opening a savings account, so you’ll want to do your research and find one with a good interest rate that suits you.
Make sure to shop around. Don’t settle for the first one you see.
4. Download a Savings App.
You might already have some of these money saving apps on your phone. Most outlets nowadays offer a kind of reward system for shopping with them, and you can get a pretty good bargain if you play it smart.
There are a ton of apps out there that offer vouchers, rewards, and freebies on a massive variety of products. You can save money on groceries, clothes, and even get FREE birthday meals with the right app.
Don’t feel weird when using vouchers or discounts, you and the seller both benefits from it. Take advantage of that.
5. Is It a Need or a Want? Be Honest.
Lastly, one of the biggest tips for saving money and getting further ahead in life – deciding if what you’re about to but is a need or a want.
For an example, is a $5 routine morning coffee a necessity? Or is it a want? It’s 100% a want. You can make it at home for a fraction of that cost and save yourself a few dollars each day.
Look for cuts that you can make in your daily, weekly, and monthly routine.
Instead of getting takeout for lunch, meal prep your food and save even more money!
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