Saving money doesn’t have to be painful. Here are five little games you can play that will help you bank more cash.
The personal savings rate is coming back from the brink of death, but there is little doubt most of our emergency funds could use a boost.
How do we save more? We all know we should cut the cable cord and drop the morning mochas, but those suggestions seem like work. So, rather than make saving a chore, make it a game.
Following are five ways to play the savings game.
Your first move, though, should be to make sure your savings account is earning as much interest as possible. That way, you ensure that every penny you save will earn you as much money as possible in interest payments.
One quick way to simultaneously compare the interest rates of various savings vehicles — from interest-bearing checking accounts to CDs — is to use Money Talks News’ savings account comparison tool.
Once you’ve revved up your savings account, you’ll be ready to make the most of these fun savings tricks:
1. Bank your deal savings and cash rebates
The next time you score a deal, be it through shopping a sale or using a coupon, put the difference between the regular price and the discounted price in the bank.
This strategy can not only help you save more but also lead you to shop less. After all, those $50 jeans will still effectively cost you $50 in the end. So, this strategy can help you decide if something is really worth spending money on.
We break down how these portals work in “3 Websites That Pay You to Go Shopping.”
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