2020 was no trick on the eyes. It came, it made a lasting impression, and it inevitably went. We head into 2021 with a mixture of hope and the unknown. What can be known, given the last year, is how crucial it is to save money in an emergency fund for times of great financial stress.
At Blue Trust Loans, we know it can be difficult to convince yourself to cut back on spending and put money away for that coming rainy day. Sometimes, it may help to avoid thinking about saving and set up a system that will help you accumulate a lump sum of money over time. We’ve put together a list of some money saving goals and habits to take up that may help trick yourself into saving money this New Year.
Tricks to Saving Money this New Year
At the end of the day, saving money is about proper discipline and limiting your impulses; however, there are ways to make the decisions easier. Take a look at Blue Trust Loans’ ways to trick yourself into saving this New Year.
Keep a Change Jar
A classic saving mechanism is the old change jar by the door. This method has lasted this long for a reason. Save your spare change from the grocery trips and nights out, and sooner than you expect, you may have some hefty savings stacked up.
Weekly Savings Challenge
If you need something a little more structured, you can take part in your own little weekly saving challenges. Perhaps start with putting away $2 the first week of a month. For the second week, try to save $4. The third week, $6; fourth week, $8. That’s $20 saved per month and $140 per year. The trick is to use this challenge alongside other tricks to save money and watch your account start growing exponentially.
Automate Your Savings
If you have trouble saving by yourself, it may be beneficial to have your bank take care of the saving for you. You can set up an automatic transfer from your checking to your savings account. You can choose to save a fixed amount or a percentage of what you have in your checking account.
Make Saving a Bill
Using budgeting apps, you can make saving a monthly obligation. Just create a payment, label it “Savings,” set it as a reminder, and make sure to pay it as timely as you pay other bills. Of course, actual bills take priority, but it may work best if you consider your savings as another due payment.
If you’re seeking emergency funding or short-term installment loans, look no further than Blue Trust Loans. Borrowers are required to sign a loan agreement upon borrowing money after meeting our eligibility criteria. You can apply for cash online in order to obtain an alternative payday loan of up to $3,000 with our reputable lending company. For more information on obtaining money loans with Blue Trust Loans, contact us today at 877-770-2682.
The content on this site is for informational purposes only and is not professional financial advice. Blue Trust Loans does not assume responsibility for information given. All information should be weighed against your own abilities and circumstances and applied accordingly. It is up to the reader to determine if this information is safe and suitable for their own situation.
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