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5 Clever Ways to Save More Money

Use these 5 money-saving tips to fatten your wallet and make smart moves like paying down debt and investing for your future. If you need to save money fast, these tips can help.

By
Laura Adams, MBA
Episode #257
how to save money fast

For many people, the recession was a loud wake-up call to tighten their belts, cut back on unnecessary expenses, and save more. But now that the economy is slowly regaining strength, consumer spending is steadily rising and savings rates are dwindling.

While there’s nothing wrong with spending when you can afford it, don’t backslide and neglect your long-term financial goals, like building an emergency fund and saving for retirement.

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Here are 5 money-saving tips to free up extra cash and help you save money fast.

Tip #1: Create a Financial Routine

Having a financial routine is one of the best ways to master your money and avoid unnecessary expenses like bank overdraft fees and late charges on bills and loan payments. Most people don’t intend to make late payments or overdraw their bank account, but basic money management can fall through the cracks when you get busy or lose focus.

The solution for staying on top of your finances and never getting hit with expensive late fees is to follow a money management system. Establish a Personal Finance Day where each week, without fail, you accomplish tasks like reviewing expenses, verifying credit and debit card receipts, reconciling bank accounts, and setting up bill payments. In my book, Money Girl’s Smart Moves to Grow Rich, I give you the details on the easy system that I use.

Sticking with a routine will help you accomplish more in your financial life, like monitoring a budget, keeping an eye on your investments, and saving more money. It’s also a smart way to catch a would-be identity thief who could wreck your finances.

To find out the best money and productivity tools, check out over 20 of my recommended resources on the Tools page at SmartMovesToGrowRich.com.

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About the Author

Laura Adams, MBA

Laura Adams received an MBA from the University of Florida. She's an award-winning personal finance author, speaker, and consumer advocate who is a trusted and frequent source for the national media. Her book, Debt-Free Blueprint: How to Get Out of Debt and Build a Financial Life You Love was an Amazon #1 New Release. Do you have a money question? Call the Money Girl listener line at 302-364-0308. Your question could be featured on the show. 

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