5 Ways To Save Money Without Even Trying

Saving large sums of money can often be a really difficult and time consuming task. It’s a lot easier to talk about saving $1,000, $5,000 or $10,000 dollars than it is to actually do it. It may be easier to save money if you set small practical goals that you can easily accomplish. Socking away a little bit of money at a time can help you to build a nice nest egg. We all want to save money, and no one would argue with you that saving money is a bad thing to do, but actually doing it is the part that people get hung up on. Here are five easy ways to save money without thinking about it.

1. Save Your Singles.

When you were little, you were taught to save your change. Pennies, nickels, dimes, and quarters were stored in piggy banks. Now that you are older, you can save your singles. What are singles? Singles are single $1 bills. At the end of each day, take your single dollar bills and save them. If you have $12 dollars left after you get home from work, take the 2 single dollar bills and place them in a jar. The $10 dollar bill goes back in your wallet or purse.  You only save the singles. Do this everyday and once a month go to the bank and deposit the funds. It’s an easy way to build a savings account without taking a big financial hit.

2. Pocket your gas savings.

Gas has been rising lately, but it is still cheaper than it was 2 summers ago. Remember when gas was above $4.00? The average price for gas in the U.S. is below $2.80 a gallon. Pick a fixed amount based on the average gas price in your area and when the price drops in your area, save the difference. Let’s say fuel prices are normally $3.00 per gallon in your area and you spend $45.00 to fill your tank up. Suppose gas prices drop to $2.50 and it only costs you $37.50 to fill your tank up. You should save the $7.50 difference. Use the extra money that you are saving on gas and place those savings in a high-yield savings account. This is a quick way to save some cash.  Try it out. It works!

3. Pay yourself.

Did you pay someone in the past for your lawn and landscaping services? Did you get rid of your barber or stylist and decide to start cutting your own hair?  Did you eliminate services from your cable company or cell phone provider? You should pay yourself every time that you eliminate a service that you used to pay for. If you were previously paying $50 for lawn care; than put $50 in your bank account whenever you cut your grass. If you can’t afford to pay yourself the whole amount, then pay yourself at least half of the amount. This gets you in the habit of rewarding yourself when you make smart financial decisions. Would you rather have the money in your bank account or a company’s bank account?

4. Use Bank Savings Plans

Take advantage of your banking institution’s savings plans. Banks and credit unions often offer matching plans that will transfer money from your checking account to your savings. While I am not a fan of commercial banks, there are some good savings plans out there. For example, Bank of America’s “Keep The Change” program rounds purchases to the nearest dollar amount and transfers the difference to your check account. Bank of America matches 100% of the amount of the transfers for the first three months, then up to 5% every month thereafter. The maximum funds match is $250 per year. Wachovia has a similar program with its “Way2Save” plan.

5. Make Saving Automatic.

You can make saving easy by automating the process. Schedule small automatic transfers directly into your savings account. You can sign up at your local financial institution for part of your paycheck to be automatically deposited into your savings account. Some employers will even let you take money directly from your paycheck and deposit it in your savings for you.

When it comes to personal finance and being successful in life, setting up methods and processes that you can repeat over and over again is what works. Star athletes don’t become that way overnight. They might have the talent, but they still have to practice all the time. Malcolm Gladwell says that to be called an “expert”, you must put in over 10,000 hours of practice. Do you want to be an expert at saving? Set up processes that help you save while you’re not thinking about it. You’ll never miss the money when it leaves, but you’ll really enjoy it when it’s there to spend in an emergency situation or when you need to pay cash for a large purchase.

(Photo credit: Kevin)

  • gina

    Also, if you get a raise, try to bank the extra money immediately. It is a big mistake to begin to get used to living on a larger paycheck. I recommend taking the extra money and seting up an automatic transfer to another account–out of sight out of mind!

    • Mark Riddix

      Great point!

  • http://fundtips.blogspot.com/ Daddy Paul

    I used to ride my bike to work every day. For each day I took the bike I put a buck in the jar.

  • http://madsaver.com Mac

    Good ideas. I have a hard time saving money, so #5 gave me a few ideas. After reading that, I checked ING Direct and they do allow recurring transfers from checking to savings, so I’m going to be doing that.

  • http://reducefootprints.blogspot.com Small Footprints

    You have the best ideas ~ I never thought about the “singles” and it’s a great idea!

    Thanks for offering us such great ideas and advice!

    • Mark Riddix


  • http://www.yourfinances101.com/blog David/Yourfinances101

    I’m surprised you didn’t mention a 401K.

    Its the best way I know how and I don’t even see the money…

    • Mark Riddix

      I never though of that one. Good idea.

      • Mark Riddix


    • Lisala

      But if you are saving for a goal, 401K isn’t the best because you stop accumulating retirement funds while the loan is out and you have to pay it back.

  • http://madsaver.com Mac

    Good call David. Never thought of that myself. Guess I do save money every paycheck in that way. :)

    Another way to save some money, if you have a 529 account for college, is sign up at upromise (http://www.upromise.com/welcome/how-it-works) and register your credit card(s) there. Each time you spend money on that credit card at select vendors, you automatically get a certain % back. No work at all, and every penny counts.

  • Winston

    Well, Wachovia right now offers a saving plan called Way2save. It automatically transfer $1 to your Wachovia saving account whenever you make a purchase with your debit card. And you can also transfer a fixed amount of money of your wishing to your saving account.

  • Karmella

    I keep a jar with any cash that accumulates, usually ones and fives and an occasional ten. It adds up fast – last time I cleared it out I had over $200.

  • PepsiLover

    I’m saving up for a dog (1500 if adding supplies) and this is helpful

  • Macie

    Thanks so much I’m also saving up for a dog

  • Ty

    I save a lil different. First thing I did was spend a weekend at expensive places that make you jealous. First…. I went to Ford Dealership and test drove a 2016 Ford Explorer Sport I was in love with that $50,000 SUV. Second..
    I went to Best Buy and went into Magnolia Center and listened to expensive Home Theater Systems and Car Audio ( Kicker ). Third…I looked at expensive furniture and etc of other things….Now here we go

  • Ty

    I put $500 away a week and when I get paid what ever is in my pocket I put away also (usually like $80). Do this for 1 year then that’s over $ 28,000 now guess what in one year you’ve just became a Playah playa in your circle. This attracts the baddest woman and keep friends away only fuck with woman during your change. Men get jealous and want to steal. So let’s examine this money you saved and what you will have in a year from today and how you get that woman of your dreams using theory and your brain and do this in order.

  • Ty

    This applies to people who are engineers and make good salary say 70,000 a year plus. If you make less money and can’t afford this then do a two year plan and cut the saving a week from 500 to 250 + or minus.

  • Ty

    ll your old car because you are getting all new everything it’s time to become a new you..Trade towards a new car if your making payments. Drop 10,000 on a down payment and get that explorer or SUV you like 2015 or newer remember this is the new you and it’s time to live that life. After the car get that kicker system installed kicker sub’s / amp plus interior kicker speakers/amP and led light in your car so you’ve spent about $12,000 so far. Buy all new furniture, 70″ 3D LED and $3,000 home theater system remember this is the new you. So you should have spent a total of $20,000 by now. You still have money left

  • Ty

    Then go on amazon and buy stuff that will add to your new quality such as car rugs, accessories, and just nice things that you can’t buy at the store

  • Ty

    So you have about 9,000 left go to champs or footlocker and buy like 15 pairs of shoes and go clothes shopping. Rack up in new gear remember this is new you and all old clothing should be thrown away or used for workout or whatever. You may keep recently bought clothing however I did new everything

  • Ty

    Now always shop around for cheapest price. You should of been able to get all this for around $22,000. You have a new car, new home setup, new clothes, new bathroom design and furniture. You are 75% in your way to get that life really moving. A beautiful lady will see the new you and will want to be apart of your life trust me just see sure she’s genuine. Every one around you will see the new change and will be like wtf how. Do you and remember this is the new you…