The most difficult part about building a savings is diligence. It’s not easy to train yourself to become an avid saver, but it’s possible! Here are 3 money saving challenges that will help you get on the right track.
- Limit restaurant dining to once per week (or not at all). Who doesn’t love dining out? But what most people don’t realize is that each restaurant meal for two costs between $20-50. By limiting your visits to the restaurant, you could save hundreds, or even thousands per year! A helpful tip is to only visit the restaurant on special occasions; birthdays, anniversaries, or other celebrations!
- Open a new savings account and automate a monthly or bi-weekly transfer. This is probably the easiest challenge of them all, as it only requires you to do just a few steps. First, you’ll need to open a new savings account (or just use one you already have). Then you’ll need to set up an automatic transfer to deposit any amount you’re comfortable with (i.e. $25, $50, $100 etc.) Whichever amount you decide to go with, if you restrain from withdrawing money for an entire year (or 6 months) you’ll have funds that you wouldn’t normally have! To open a savings account with SeaComm today, give us a call at 800-764-0566 or visit any of our six branch locations.
- Eliminate impulse buying. Most of the time, running errands also leads to a variety of impulse purchases. When you visit the store, make sure that you stick to what is on your list and avoid shopping with your emotions. A helpful tip to keep in mind when shopping is to create a 30-day waiting list for big purchases. For example, instead of making a big purchase without considerable thought, promise yourself that you will go back in one month. After one month goes by, locate the item and determine if you still want it! Click here for more tips to help you combat impulse buying!