From an original article by America Saves
You might be surprised to learn how many people have little to no savings at all; perhaps you’re one of them. If so, you’re not alone. Approximately 62% of Americans have less than $1,000 in their savings account – 21% don’t even have a savings account. Talk about living on the edge.
Opening a savings account or dropping nickels in the piggy bank are two ways to save money but there are so many more ways to save. Here are a few of our favorites:
- Save for something specific – There’s a difference between saving money and saving money for your future. Put the money you save into a retirement account or an account just for college expenses.
- Budget with cash and envelopes – Set aside a certain amount for spending. Once it’s gone, it’s gone.
- Save automatically – Setting up automatic savings is the easiest and most effective to save. Cash out of sight is cash out of mind.
We have 51 more ideas to share with you. For the complete list of money-saving tips,