Save Your Green This Spring

Many of us began the new year with the goal of saving more money. As spring blooms, it’s the perfect time to check-in and see what progress we’ve made towards this objective. While saving allows your finances to blossom, it’s easier said than done. This is especially true if your budget is already pretty tight. It can be hard to justify putting away extra cash when it appears like you genuinely need it. Alternately, it might seem like you’d be saving too little to be worth it. Yet it doesn’t matter how much you put aside, just that you do. Whether it’s $10 or $100, every little bit adds up. To that end, let’s look at ways you can increase your savings on a tight budget.

1. Spring For a Budgeting App

First things first. If you haven’t already done so, look into a simple yet powerful tool that will help you flourish financially. A free budgeting app creates a plan to spring-forward your savings. Many of these services automatically link to your bank accounts and bills, giving you a complete picture of your cash assets and your debts. With this easy tool, you can see how much you spend each month by category such as groceries, rent, entertainment, shopping and more. Using this information, you’ll determine where you can cut back and save.

2. Melt Down Your Debt

Debt can freeze up your income, particularly high-interest debt like credit cards. So the sooner you attack it, the more money you’ll have to save. Rejuvenate the way you deal with debt by using the “snowball method”. List all your debts in order from least to greatest. Then, pick the debt with the lowest amount and focus on paying that off first, while making the minimum payments on others. By focusing on the smallest debt first, you’ll pay it off more quickly and free that money up for other bills. This strategy will motivate you to continue paying off your debts, because you’ll see progress. Slowly but surely, you’ll melt that debt down and thaw out your income.

If you’re juggling a number of different bills, it can be hard to keep track of everything. Luckily, debt consolidation combines multiple bills into one easy monthly payment. With a debt consolidation loan from Heights Finance, you could end up saving money on interest, lower your monthly payments and easily track your finances. We’ll also give you one definitive pay-off date, with an end-goal in sight.

3. Refresh Your Grocery Shopping

The average family of four spends about $928 a month on groceries alone. It can be quite easy to meander through the aisles, grabbing an extra bag of chips or box of cookies, growing your grocery bill bit by bit. Instead, streamline your shopping experience. Plan your weekly meals in advance and write out your grocery list. Then, stick to that list. Better yet, shop using an app so you can determine how much your cart will cost before you get to the store. An app can also provide you with coupons and the latest deals. To save time, opt for pick-up. Simply whip up your shopping list, select a time to collect your groceries, pay online and let the store do the shopping for you. Easy, right? This strategy also eliminates temptations which may arise from shopping in-store, such as plucking unnecessary goodies along the way.

4. Wait For It to Bloom

Ever see something you want, right then and there? Maybe you’re in dire need of a new phone and want the sleekest model on the market. Or perhaps your old jacket is shot and you have your eyes on something chic. Unless it’s something that’s an absolute necessity, you should give yourself at least a week to think before you buy it. By granting yourself time, you allow the best ideas to bloom and avoid impulse purchases. You’ll also be able to shop around and find things that might better match your budget.

5. Weed Out Subscription Services

From yoga apps to streaming video, subscriptions are everywhere these days. These services don’t seem expensive at first, until you start adding them up. Suddenly all those “small” charges, from $1.99 to $19.99, are costing you a tidy sum each month. It’s time to take stock of what you actually use. Find free replacements for your services and apps whenever possible. If you haven’t opened a program or app for months but have been subscribing, it’s time to cancel. If you only watch one TV show from a streaming site, binge that show and then nix the service.

6. Find Fun at Home

A tried-and-true method, staying in rather than going out, is one way to trim the fat on any budget. Instead of going to the movies with your friends, pick a film you can stream from home. You can even have a little viewing party. By doing this, you’ll save money on movie tickets and concessions. Rather than having dinner at a restaurant with your partner, prepare a romantic home-cooked meal. You’ll find you can enjoy a more intimate atmosphere with just the two of you and you won’t have to worry about the bill.

7. Give Something New Life

Shopping second-hand is a wonderful way to save a lot of money. From clothes to kitchenware, you can find almost anything at local thrift stores. Items which are sometimes expensive make their way into these stores, where you can find them in gently used condition and snatch them up for mere dollars. Plus, thrift stores often have additional discounts and sales, saving you even more.

Save Your Green with Heights Finance

This spring, save your green and watch your finances blossom. While it can be tricky to put aside money on a tight budget, you can often find ways to nip and tuck. Then, you can add to a savings account or a rainy day fund. Even if you’re freeing up $5 here and $10 there, every penny counts.

At Heights, we love empowering people with knowledge so they can find financial freedom. That’s why we’re always happy to answer any questions you might have, whether it’s about debt consolidation or something else. We care about your financial health and will go the extra mile to make sure you succeed at accomplishing your goals. So, stop by your friendly local branch today.