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Simple Savings

Saving money can often feel like an uphill climb. Car and home repairs unexpectedly pop up, and before long, that well-intentioned savings plan takes a back seat. 


A simple savings strategy doesn’t have to be complicated; it just takes some careful planning and foresight for when life does inevitably throw a few curveballs your way. 


Make a budget – If you don’t have a budget, now is the time to start one. Track everything (we mean everything) that you spend over the course of the month. At the end of the month, take a hard look at areas you might be able to cut back to allocate more money for savings. 


Cook at Home – If you want to get serious about saving, then learn to cook at home. A 2022 survey found that the average American household spent almost $200 monthly eating out. Scale that back by 75%, and you could save $1,800 over the course of a year. 


Cancel Unnecessary Subscriptions – Another great way to save some money each month is by canceling unnecessary subscriptions. Between streaming services, gym memberships, and other subscription services, the average monthly spending for American households is $219. Scale back and start saving!


Make Saving Automatic – If you’re ready to put savings into action, consider contacting your bank to set up automatic savings. You can instantly have a percentage of your income put into a savings account with each direct deposit of your paycheck. 


DIY Repairs – We live in a pretty incredible era where just about anything can be learned via the magic of YouTube. While some repairs really are better left to a professional, learning how to replace a burned-out taillight in your car or add a new backsplash to your kitchen can translate to serious savings. 


Reduce Energy Costs – Utilities aren’t getting any cheaper, so learning to reduce your energy consumption can help keep bills down. From fixing leaky windows to taking shorter showers or replacing incandescent bulbs with LEDs, there are lots of ways to reduce energy costs and keep a little more cash in your pocket. 


Use Coupons – Everyone likes saving money, and major retailers are constantly throwing coupons at new and existing customers. If you’re thinking about making a purchase with a particular brand, consider signing up for their email ahead of time to see if they offer a discount coupon. There are also cash-back apps like Ibotta and Rakuten that can help you save on purchases. 


Scale Back on Entertainment – You probably don’t need to cut your entertainment spending back to zero, but weekends out can really add up quickly. Look for things you can do around town for free that will help you save money that otherwise might have gone towards more expensive entertainment. 


Pay Off Debt – Paying down debt is the best way to allocate more money for savings. When paired with a detailed budget, this is a money-saving combo that can’t be beat! The popular debt snowball method involves paying your smallest debts first and using that momentum to tackle more significant debts. 


In a relatively short matter of time, some simple savings tips can translate into much bigger savings wins. 

If you’d like to learn more about finding a home in the Crosswinds community, contact us today.