Smart Ways To Penny Pinch

Down payments are no joke, and though we all think we can save efficiently, you never know what wrenches life will throw your way. It might seem like scaling Mount Everest, but saving money—even in this economy—is not only doable, but simpler than you think. With the right strategies, you’ll get on track in no time!

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1. Make a Budget

First and foremost, you need a set goal. It seems easy, but a lot of people skip this step because they assume budgeting will come naturally. Lo and behold, you’re out of money every month, and your savings account drains faster than you can contribute to it. Put a timeline together, keep track of your receipts, and withdraw real cash so you can see where your money actually goes.

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2. Cut Down on Expenses

We’re not saying life should be a prison. You deserve a night out or the odd pizza! But just how often are you doing those things? Once we get used to the convenience, we don’t stop and think about what it costs us, but now’s the time to reevaluate.

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3. Automate Your Savings

We don’t always remember to stick $50 into our savings account, but many banks can automatically do it. Depending on your savings account and how much you’re willing to comfortably part with, you can let your bank auto-deposit a few hundred bucks into your account every month! 

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4. Save Extra Cash

Did you get a raise at work? Did you win a little money on that scratch ticket? Whatever extra money comes your way should go straight into your savings account! It might not seem like much now, but it adds up over time. 

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5. Consider a Side Gig

We know, we know! Working another job is the last thing people want, but side gigs don’t always have to be boring. You could walk dogs or freelance your services on the weekends. You’ll set your own schedule, too, which prevents burnout. 

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