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8 Simple, Smarter Ways to Save

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8 Simple, Smarter Ways to Save

Do you feel like you’re always trying to save but never reach your savings goals? Sometimes, we can make it too complicated or have too rigid a plan that causes us to give up on it altogether. You can make 2020 the year of savings by following these bare-bones tips. 

1. Start a Pantry Night

It’s too easy to spend money dining out or grabbing a burger at the drive-through for the whole family. Stay ahead of the curve by allowing one night each week as a free for all in the pantry. You won’t have to worry about what to cook that night. Everyone can find something simple for themselves to eat, whether it’s cereal or leftovers. Some weeks it may take more creativity to come up with a meal, but use what you already have in stock. 

2. Separate Needs and Wants

We are constantly exposed to advertisements in a way like never before. Ads are perfectly crafted to peak your exact interest based on your internet search history. This can make the temptation to buy even stronger. Don’t buy anything instinctively, wait and decide if this item is truly something that will meet an unmet need in your life. 

3. Make a Decision on Entertainment

How many streaming services are you subscribed to? Although you may think you are saving money, you can quickly rack up your monthly costs by subscribing to too many services. Rotate your services so you can still have access to your favorite shows and songs, but on a rotating basis.

4. Feed the Freezer

Food can be one of your most expensive monthly costs. Plan ahead and take advantage of sales on things that can be frozen. Meat is one item that freezes well. Keeping your freezer full of these low-cost foods can make a big difference to your bottom line. 

5. Go Generic for Everything

It’s true that more often than not, you are paying for the brand name rather than the actual product. Going generic won’t impact anything but your wallet. 

6. Treat Your Belongings Well

Invest in quality items that you love and treat them well. Practice good habits like taking your car routinely for oil changes and staying on top of home upkeep. Broken cars and homeowner woes can be costly. 

7. Test Out the Tried and True Envelope System

Just because your great grandmother may have done it, doesn’t mean it’s not still relevant. Make a monthly budget, and place each amount in a separate envelope. When it’s gone, it’s gone!

8. Consolidate Debt

If you have debt in a lot of places, you may want to consider consolidating your debt into one place with a lower interest rate. 

For more advice on ways to make savings simple or how to start a savings account, reach out to us at


Exchange Bank of Northeast Missouri.

Exchange Bank of Northeast Missouri

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