How to Save Money: 10 Simple Ways for Beginners, Savings Strategies

Sometimes the biggest challenge about saving money is just getting started. However, the case may be, saving money provides you a way to take advantage of the situations at hand. Such as planning of going back to college, starting a new business, or buying stocks when the market smashes. Therefore, these 10 simple ways to save money I explained below can help you develop a simple and realistic strategy. However, this strategy will guide you through how you can save for all your short and long-term goals. Happy reading!

How to Save Money

Take advantage of these money-saving tips to create ideas on the best easy ways to save money in your everyday life.

#1. Payoff Your Debt

If you want to budget and save money but still have a lot of debt, start with debt first. Take your time to add up your monthly debt payments for quick confirmation. Then, you can easily save money once you are free from paying interest on your debt. Meanwhile, personal credit limits are just one option for debt consolidation so that you can better pay off your debts.

#2. Have Goals For Your Savings

One of the best ways to save money is to visualize the reason you want to save. If you need motivation, please set retention goals and schedules for your savings. Do you want to buy a house or some other goal with a down payment of 20% within 3 years?. Now you can set the goal and see how much you need to save each month to reach the goal.

Read Related: How to Make a Budget in 5 Easy Steps For Beginners

#3. Start by Paying Yourself First

Set up an automatic transfer from your checking account to your savings account for each payment date. Be wise, don’t deceive yourself on your healthy long-term savings plan. Whether it’s $100 or $500 every two weeks, is a good starting point.

#4. Take Note of Your Spending

The first step in starting to save money is to figure out how much money you spend. Meanwhile, record all your expenses, including all coffee, household items, and cash chips. After obtaining the data, the data will be organized by categories such as natural gas, food, mortgage, etc, and make sure each amount is summed. However, you can use your credit card and bank statement to make sure it is correct. Never forget any of your daily and monthly expenditures.

Read Also: Money Management: Definition, Importance & Simplified Guideline(+ tips & pdf)

#5. Make Good Use Of Your Smartphone

Budgeting is the most basic part of personal finance, but it can also be the most difficult part to adapt to life. Start on a screen you’ve been staring at for a few hours a day. However, with your smartphone, make use of various budget and money-saving apps that allows you to automatically save, signal you on your spending overruns. These apps will also help to invest your savings so you can grow financially. Meanwhile, don’t solely rely on the app as your only budget guideline. You can as well invest your time in evaluating the app results on your spending behavior. Moreover, that will help you in deepening your financial decisions.

#6. Consider Utility Savings

Lowering the temperature controller of the water heater by 10°F can save you 3-5% of energy costs. Meanwhile, compared with standard storage-tank water heaters, installing on-demand or tankless water heaters can save you up to 30% of your savings.

Read Related: How to Invest $100: In 2021, How Acorn App Work (+ Free money tips)

#7. Open an Account With Interest Return

Sometimes, separating your savings account from your checking account reduces your tendency to borrow money from your savings all the time. However, for your long-term goals, consider using higher-yielding products such as Regions CD or Regions money market account to save more money.

#8. Make Use Of Coupons

The concept of coupons sounds a bit outdated, but you don’t have to pull out a Sunday newspaper to find deals. Make sure to find the promo code box on the payment page of almost all e-commerce sites before clicking on buy. However, a standard search can help you discover these savings opportunities. Notwithstanding, there are also extensions such as Honey and Coupert that can help automate your tasks while shopping.

Read Also: How to Invest $100: In 2021, How Acorn App Work (+ Free money tips)

#9. Know How Much You Should Be Saving

Everyone knows that saving money is a top priority, but how many people know exactly how much to save?. Most people misunderstand that it is good to increase savings and that it is bad to decrease expenses. The general meaning is correct, but the amount you need to save will depend on your needs, lifestyle, and income. The amount you save and spend on emergencies or lifelong opportunities can be very different from that of friends, family, and neighbors. With an account with easy access, you can save 3-6 months on the cost of living.

#10. Track Your Savings

Check your budget and check your monthly progress. This will not only help you comply with your personal savings plan but will also help you quickly identify and resolve problems. Knowing how to save money can motivate you to find more ways to save and achieve your goals faster.

Bonus Tip: What is Savings Strategies? Check below: Definition by “Chiemerie Ozurumba”.

Savings Strategies

Savings strategies are the plan of action you take to achieve your short and long-term goals by putting together your leftover money. Meanwhile, this leftover money as your savings comes after removing your consumer spending from your disposable income over a given period of time.


Savings is about having a definite goal for something. It may be for a short or long-term goal, retirement plan, or perhaps for something on the immediate horizon. But, no matter what the case may be, having proper savings strategies will help you make all your dream and goals come true. Therefore, take advantage of these 10 simple ways I explained in this article and explore your way into achieving your life goals. Find this article helpful? Like & Share!

Chiemerie Ozurumba (Adorablepen) is a freelance writer & Computer Science degree holder, a personal finance expert, blogger, public speaker, and poet. He is also a relationship & life coach. Currently a writer at BusinessYield.

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