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4 ways to save more money in 2014

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When we talk about saving money, the thought of coupons and discounts comes to mind. The truth is, many of us don't see saving money as actually putting money aside into a savings account. How would you like to have $1200 for Christmas presents at the end of the year? Maybe you want to have enough to pay off your credit cards in a lump sum? Have you decided to set aside money for your healthcare as an alternative to rising health costs? All of these options are possible if you know the tricks to saving money and keeping it safe until you need it.

Weekly Savings Jar Challenge

The weekly savings jar challenge has been circulating the Internet for years, but few people know what it is. The concept is simple. Take a mason jar or other container and each week deposit the amount of money that corresponds to that week. Deposit $1 for the first week, $2 for the second week, $3 for the third week and so on. By the end of the year you will have around $1200.

Save the Change

Save the change is a concept that major banks started to help their customers save money. You don't necessarily have to have participating bank account to do this. All you have to do is round your purchases up to the nearest whole dollar amount, take the difference, and put the difference into your savings account. So, if you make a purchase of $25.60, round it up to $26 or even $30 and put the difference into your savings account. You will be surprised at how fast that change adds up.

Automated Savings Withdrawal

If you have a checking and savings account, find out if your bank has an automated savings withdrawal feature. This feature allows you to automatically withdrawal a certain amount of money from your checking to your savings on a specific day. You set it up just like a bill payment and the rest takes care of itself.

Coupon the Savings

Do you have a standard grocery budget each month? Are you receiving discounts, using coupons, or coming under budget? Put the difference into savings. This is a very easy way to see your savings add up from various sources throughout the year. This is a great option for couponers, discount shoppers, and people on a tight budget that may not have savings from any other location.

Final Thoughts, Tips, and Advice

The biggest mistake you can make, when you are trying to save money, is to treat your savings like a bill. In tough times, we tend to cut out the expenses that are unnecessary, and usually the savings is the first thing to go off the budget. Make sure you are using a method that allows you to passively save money without a heavy obligation and guilt if you don't save a certain amount like clockwork. Use multiple methods of savings as well. If you have the weekly savings jar as an option, combine it with save the change and coupon savings to maximize on your return. Your budget will thank you for your efforts.

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