Small steps to start saving

You don’t have to make drastic lifestyle changes to improve your bank balance. Try these quick tips and start saving today.

You know those people who organise their finances with multiple Excel spreadsheets and sophisticated investing strategies? Annoying or admirable, they kind of make you feel bad about your own, less-than-perfect finances, right?

But let’s face it: The last thing you want to do is spend that much energy budgeting. Well, guess what? It’s possible to improve your finances by doing a few things that actually require very little effort. It may sound crazy, but we sometimes forget that coins carry value. If you have loose change in your wallet or purse, you’re more likely to spend it … or lose it in the depths of your car or couch cushions.

By putting your excess daily change into a jar, you’re preventing frivolous spending. And once you have a healthy stash, you can take your coins to the bank and deposit them. More savings!

There’s no need to spend extra money on over-the-counter medicine just because it’s a name brand. The same goes for that box of cereal or jar of peanut butter. In fact, generic house brands are often identical ingredient-wise to name-brand products—they just lack the fancy labelling. Luckily, it’s just as easy to get your hands on generic products as it is name-brand items—they’re usually on the same shelf.

Its payday … and Groupon’s deals have never looked better. Even if we know that we should be saving up for a new car, our desires can cloud our better judgment. That’s why it’s in your best interest to build up your savings before that money disappears into a flash-sale pit.