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Do you feel like money just passes through your hands every month? If you do, you are not alone there, as there are many people who are also finding it difficult to save money. There are probably a lot of things you want to do, like go on a vacation, buy a new home or car, start a business, invest, and so on. But the problems is, you need money to do that and you just don’t know how to properly save.

That will be fixed, as the article below, will be about the 7 keys to saving money. These ideas will help you achieve that financial stability that you are looking for, and to finally be able to save for what you truly want.

We do not want you to end up in our payday loan consolidation program so read on how you can make your life easier by saving money

1. Move bank accounts to take advantage of perks and earn more interest

There are banks that offer some pretty good sign-up bonuses
There are banks that offer some pretty good sign-up bonuses

Assuming you are paying a fee for your savings or checking account each month. You may find it quite beneficial to do a research on bank’s newest offers. You may find that there are banks that offer some pretty good sign-up bonuses for simply opening an account. There are also banks that offer very attractive interest rates to new clients. It is worth taking a look at what such banks have to offer. You should know that you can find some of the best savings accounts and free checking accounts online.

2. Stop collecting, it is time to start selling

Stop collecting, it's time to start selling
Stop collecting, it’s time to start selling

In the past, there were times where people thought that their collections would make them rich. Things like Beanie Babies and Longaberger baskets used to be really popular. Today, you can find such items on resale sites and garage sales, costing a fraction of their initial price, therefore leaving lots of people who had invested in these items feeling frustrated.

Unless you buy items that somehow make a profit, you are just wasting your money on stuff you probably do not even need. If you have many items that you are not using, maybe you should think about selling them and getting as much financial gain as you can.

3. Spend less than what you earn

spend less than what you earn
spend less than what you earn

While this sounds pretty obvious, it can also be the hardest thing to implement. It is very important for you to understand the difference between something that you want and something that you need. For example, you may need transport to get to work every day, and you may want the newest luxury car model with chrome wheels and leather seats. Do not let false salesmen and advertisements mislead you. Use your money only for what you really need and save the rest.

4. Time should be your new best friend

Time should be your new best friend
Time should be your new best friend

You must understand that for most financially successful people, the financial security they have established is the result of a lifetime of carefully calculated financial decisions and not just a few lucky events and miracles. There is no genie in a bottle that can secure your financial stability. However, time and the right investments can give you that financial success that you desire. For example, if at the age of 24, you start investing a $100 in a savings account that pays, say 5% per year, you will have almost $150,000 by the age of 65. Another $100 investment in a balanced stock and bond fund can grow to more than $400,000 for the same period. You need to create the habit of investing your money rather than spending it on meaningless items.

5. Free customer rewards program? Sign up for it.

Wherever you live, you will most likely find many retailers willing to reward customers for purchasing at their store. To maximize the use of free customer programs, you should do the following:

  • Create a Yahoo or Gmail address just for these programs
  • Collect every card you can and whenever you are ready to shop, check that account for extra coupons
  • You can also use rewards credit cards to earn different purchases points. You can do that at many different stores.

6. Invite friends over instead of going out.

invite friends over instead of going out
invite friends over instead of going out

If you do a simple calculation on how much you are spending when you eat at restaurants, you will come to the conclusion that you are giving away a fortune. Going out to restaurants or clubs can absolutely destroy your budget. This does not mean that you should not have fun, go out party, or go to the cinema. But if you make eating out a habit, you won’t have much to save. Instead of inviting your friends for a dinner at a fancy restaurant, invite them home. Cook a nice dinner, watch a movie or have a card game. That way, you will save some money.

7. Isn’t it finally time to quit smoking?

If you are a smoker, you probably know by now that not only is it an extremely unhealthy habit, it is also a very expensive one. How about quitting smoking and saving your health and money at the same time?


The number of things you can do to increase your savings is pretty varied. Be creative, try to find new ways of saving money, see what works best for you. Stop spending your money on things that are not that important to you, and start investing in yourself and your future.

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