You all may have heard of the “keep the change” savings technique — Bank of America is known for it with their accounts. Basically, you can have the change from every debit transaction forwarded directly to your savings account. It’s like a virtual piggy bank, if you will. I really liked this idea, but I wanted a way to have control over it myself.
By using the technique, we were able to save $300 in 2 months. Just about every morning (or at least a few times a week), I’d wake up, check our checking account, and simply round up. So, if we had $393.07, I would transfer over $3.07 to our savings account. Some accounts require that you move over at least $5, so in the case of $393.07, I would have moved over $13.07. I kid you not, we started this on August 29th and by October 31st. Check it out:
The Easy Savings Technique We Used to Save Over $300 in 2 months
It’s such a simple technique and I find that if I do it in the morning, I’m less likely to try and hoard any. I have a clearer head in the morning and make more practical decisions. And by making it part of my morning routine, it becomes second nature. I think we all know that the way we form good habits (or change bad habits) is by creating a routine and sticking to it. Frankly, this habit has been the easiest thing for me to adapt to. I don’t have any pressure to save a certain amount. If we have extra, we can put extra in. If we don’t, we don’t. Simple as that.
What are some easy ways you try to save money? Let me know in the comments!