Things that’ll make you say, “I saved so much cash this year!”
It’s never a bad time to start saving. In fact, most Americans could use a little help in the savings account arena. According to a 2017 GOBankingRates survey, “more than half of Americans (57 percent) have less than $1,000 in their savings accounts.” So, we decided to compile a list of 3 things that can help put a little more cash back in your pocket.
Calling all Starbucks fiends:
Whether you’re a Dunkin’ drinker or a Starbucks supporter, you’re probably spending weekly on that cup of brew. You might even be spending two or three times a week, which means that you may be averaging a spend of anywhere from $10 – $15 depending on your drink of choice. According to the report, “The average American spends approximately $1,100 a year — or $3 each day — on coffee.” That’s more than some millennials put away for retirement. Crazy, right? But sometimes, we just don’t realize what we’re actually spending daily – especially when it comes to our caffeine. Consider brewing your own coffee at home to save some cash this year. And if you’re a frequent coffee buyer, consider cutting it down to once a week and pocket that remaining $10 or so for your savings account.
Stop struggling to save by using Acorns
Have you ever wanted a tool that saves your money for you without you having to worry about counting the pennies? Well, you’ve come to the right blog. Acorns allows you to sign up with as little as $5 in your account. Connect as many bank cards as you like and watch the savings begin. Nerdwallet says, “With each purchase, Acorns rounds up to the nearest $1 and gives you the option to transfer that change into an investment portfolio. You can do that either automatically, so every purchase is rounded up and the change transferred, or manually, by going through recent purchases on the app and selecting which roundups to transfer.” That’s the best part – it’s not taking money from your earnings. It’s using your spare change to bulk your savings. For example, you go to Walmart and buy a coke for $1.50, Acorns is going to round up that transaction to $2.00. It’ll take that spare $0.50 and deposit it into your savings. It’s that simple. If you’re one of those awesome change keepers who cashes in on your saved coins each year, then you can only imagine how much money it’s possible to save each year with this tool.
Put your cooking skills to the test
Eating out is convenient and delicious with the perk of no cleanup. It’s no wonder that that so many Americans spend so much cash eating outside their home each year. According to csmonitor.com, “The average American spends $232 per month eating meals out. Given that there are 18.2 meals eaten outside the home in an average month by the average American, the average meal outside the home costs a person $12.75.” That’s a whopping $2,784.00 spent on average each year. Try and take up new recipes to save on the costs of going out. If you’re not one to do well in the cooking field, there’s a great book available called The Can’t Cook Book: Recipes for the Absolutely Terrified!to help get your feet wet. Not only does cooking at home save you from spending out, but depending on what you cook, it may be healthier too. So, it’s a win, win!
Ready to get saving? If you’re saving for something big, or trying to pay down debt, and you don’t want to empty your emergency cash stash, a LendingPoint loan may be a great option.
Even if your credit score is lower than you would like it to be, you do have personal loan options. A personal loan can even help improve your credit score. By taking out one of our personal loans. you can make affordable monthly payments and build your credit story by making on-time payments each month. As you continue to make your payments on-time, you build your credibility and your credit history. Apply today!
LendingPoint is a personal loan provider specializing in NearPrime consumers. Typically, NearPrime consumers are people with credit scores in the 600s. If this is you, we’d love to talk to you about how we might be able to help you meet your financial goals. We offer loans from $2,000 to $25,000 with terms from 24 to 48 months, all with fixed payments and simple interest.