• Skip to primary navigation
  • Skip to main content
  • Skip to primary sidebar
Home
About Us Contact Us Advertising
Articles
Budgeting Debt Frugal Insurance Investing Making Money Retirement Saving Money
Tips
Money Saving Tips Trash Audit
Make Money Forums Blogs
Create a Blog Control Panel All Entries All Blogs
Tools
Calculators Prescription Drug Coupons Online Savings Accounts Test Your Knowledge Financial Directory Credit Cards

SavingAdvice.com Blog

Bridging the gap between saving money and investing

Subscribe

 

Join Now or Login

  • Home
    • Advertising
  • Tips
    • Money Saving Tips
    • Recycle, Reuse and Repurpose
  • Make Money
  • Credit Score Guide
  • Forums
  • Blogs
    • Create a Blog
  • Tools
  • Financial Basics
    • Back to Basics: Saving Money
    • Back to Basics: Beginners Guide to Retirement
    • Back to Basics: What Every Child Under 10 Should Know About Personal Finance
    • Back to Financial Basics: Investing In Stocks

Four ways to make Saving Easier

November 14, 2015 by Amanda Blankenship

Ways to Save

Saving can be such a chore. Chances are, you are making it a lot harder on yourself than it needs to be. There are a few steps, tip and tricks that you can use to making saving money, whether it be taking advantage of available apps or simply talking to an advisor, there are probably a few things your not doing to make saving easier.

Track your monthly spending

Many checking and savings accounts have applications you can use for their services. The apps give you a “snapshot” of your monthly spending, what weeks you spend more, whether you’re spending most of your money on entertainment, food, bills. When you track your monthly spending, you can identify places where you can slim down (like eating out) and place the extra money into savings.

Flexible spending

A flexible spending account may be a possible way to save as well. Flexible spending accounts (FSA) take advantage of money you set aside from your paychecks. With each pay period, a set amount of money comes out of your check (tax free). You can use a FSA for medications, co-pays, and you can even use the account for commuting costs to and from work. The best part about an FSA is that you are paying with pretax dollars rather than after-tax dollars and essentially getting a discount on things that you normally buy anyway.

Begin contributing to retirement

Saving is always better when you are saving for something specific, and what better thing to save for than your own retirement? Workplace retirement plans, such as 401(k), allow your retirement investment to grow without being taxed. You can set up a specific amount of money to come out of your check every week and it goes directly into the 401(k), untaxed. Some companies will even match a percentage of your 401(k) contribution.

If your company does not offer 401(k), you may want to check into an individual retirement account. If you have earned income, then you can contribute to an IRA (up to $5,500 a year if you are under the age of 50). You can choose different types of IRA accounts to invest in as well: commodities, individual stocks, certificate of deposit. You can even put money into each one of these to diversify your retirement portfolio.

Start your emergency savings account

Emergency savings is a must-have. Most people save for specific events, items or life-events (like weddings or retirement). However, people often forget that they may need to save for emergencies. Whether it be car trouble that needs to be repaired on the fly or a leak in the plumbing at your house, you should have a reserve fund available. Many bank accounts offer separate savings accounts (one for emergencies and one for regular savings). Have a reserve for things you don’t plan on happening is always a great way to save money.

Using apps, different types of savings accounts and keeping track of your spending are all amazing ways to save your money and cut down on spending. Whether you’re saving for retirement, expected or unexpected expenses, saving should always be on your mind, and there are ways you can be making it easier for yourself.

Amanda Blankenship
Amanda Blankenship is a full-time stay-at-home mom. Her family recently welcomed their second child, a baby boy, into the world. She loves writing about various topics, including politics and personal finance. In her spare time, Amanda loves to play with her kids, make food from scratch, crochet, and read.

Reader Interactions

What did you think about this article?
1 Star2 Stars3 Stars4 Stars5 Stars (1 votes, average: 5.00 out of 5)
Loading...

Comments

    Leave a Reply Cancel reply

    Your email address will not be published. Required fields are marked *

    Primary Sidebar

    • Articles
    • Tips
    • Make Money
    • Credit Score Guide
    • Forums
    • Blogs
    • Tools
    • About
    • Contact

    Subscribe to Our Newsletter
    Your subscription could not be saved. Please try again.
    Your subscription has been successful.
    Copyright © 2025 SavingAdvice.com. All Rights Reserved.
    • Privacy Policy