Financing advice isn’t hard to find these days. With gas prices soaring and the housing market at its lowest, hundreds of people are sharing ideas about how to save money and cut daily expenses. Whether you’re buying a home or saving for college, it’s always a good idea to follow financing advice from the experts and assess your financial situation. But what about simple ways to save money each day without budgeting out an entire year’s worth of funds? Here are a few simple ways you and your whole family can save money without drastically changing your lifestyle.

1. Get a coin jar – and use it! Collecting your coins in a jar something the whole family can participate in. Simply have everyone save daily change in a glass jar somewhere in a main area of the house. Not only does this help you save money for a rainy day (or even that trip to Disneyland the kids have been pleading for), but it will help keep you from spending the excess cash that’s left in your purse, wallet or pockets! Once the jar is filled, have some fun rolling the coins with free coin sleeves from the bank to count just how much you’ve saved up. You can even create multiple coin jars that go towards anything from a new video game to buying a home!

2. Tech junkies beware. Ok so we all love technology one way or another, but one way of blowing your hard earned cash faster than you ever though possible is to get addicted to the latest and greatest gadgets. That new surround sound system that just came out last week may be amazing (especially once you pop in the Top Gun DVD), but will you really be able to afford all the new hardware that is upgraded down the line? With the ever-changing world of technology, it’s easy to get sucked into the habit of always buying new item, but if you were to take a step back and rethink your purchases, you could save hundreds of dollars a year. Consider passing on this year’s upgraded technology and wait for the next batch to come out – that alone could save you a lot of cash.

3. Automate it. By automating your savings, you’re more likely to have a savings amount you are comfortable with. Begin by switching to direct deposit for your paycheck so your money goes directly into the bank. Before, when you deposited your check yourself, you had to make a decision about how much to deposit, meaning you were more likely to end up with less money in the bank. When you direct deposit, however you’re making the decision about how much to withdraw and are less likely to go overboard with withdrawals. In addition to direct deposit, you can also set up an automatic transfer of money from your direct deposit account or checking account to your savings account, which will help you grow your savings in the long run..

4. Cut spending on hobbies and other entertainment. From beading to stamp collecting to attending Major League Baseball Games, hobbies big and small can really cost you. Though there’s no need to give up your favorite things in life, it’s simply a good idea to cut your spending as much as possible. Consider cutting down your hours at the bead store so your less likely to find something you “just can’t live without” or cut down on the snacks and beer at the baseball game. Don’t have a hobby? Consider reviewing your monthly magazine subscription costs as well as things like Netflix and extra cable channels. You’d be surprised how much money you can save each year by cutting down on subscriptions.

 

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