Three Easy Tips to Make Saving Fun

After paying all my bills, I opened my email to find a sale on sandals for spring. They are so pretty and shiny…what’s a spender to do? If you’re like me, you may need some creative ideas to help you save what’s left of your paycheck after the bills are paid. Here are some simple tips to help you make saving your money a walk in the park.


1. Set a Goal

In order to save your money and avoid spending on frivolous items, set a long-term goal for something you’d like to do that requires you to save. Here are some examples to get you thinking:

  • Buying a home
  • Finishing your “honey do list” projects
  • Vacation to Hawaii or other exciting places you’ve never been
  • Buying a car
  • Remodeling your bathroom
  • Becoming your own boss

Figure out how much money you’ll need to reach your desired goal, and give yourself a deadline to reach it. Then you’ll want to see how much you can set aside each month to achieve that goal. There’s so many different ways you can save your money, including CD’s, mutual funds, savings accounts, checking accounts. For advice, ask your banker to help you find the best balance and fit for your lifestyle and responsibilities. We also have a variety of savings options, which you can research here.


Holiday Club Savings Webster Bank

Use your Holiday Club Savings account to save for a long-term goal, like vacation. Click this photo to learn more.

2. Create a Saving Game

Sometimes you need to get creative to ensure you stick to your plan. I developed a simple game over the years which helped (okay…forced) me to save money and prevented buyer’s remorse. First, I take the amount of money I have left over after paying my bills, and divide it by what’s left in my account until my next paycheck. The result is my budget per day.

For example: If I have $600.00 left until my next payday in 10 days, that’s:$600/10 = $60.00 per day budget.

The object of the game is to determine how much money you’re able to save each day without going over budget. If you’re able to save at least 50% of your remaining balance from your paycheck, give yourself a pat on the back and reflect on how close you are to achieving to your long-term goal.

You can transfer your extra savings into whatever savings vehicle you’ve chosen to save for your long-term goal, or keep it in your checking account to build up a bigger financial cushion.  You could also use the extra money to pay down any debts you owe, or open a Holiday Club savings account.


3. Transfer Your Spare Change into Savings

Since I hardly carry cash anymore, another tip I’d like to share is transferring spare change from your checking account into your savings account online. For example, let’s say I have $43.65 left in my checking account after I reconciled my register for the day before I head out into the world. I transfer $0.65 into my savings account.

This serves two purposes; I can easily recall how much I actually have in my checking account because it’s an even number, and after a certain period of time, I will accumulate a nice sum in my savings account. You’d be surprised how much you can save over time!

Saving money can be fun if you have a goal in mind, create a plan, and get creative on how to stick with it. Instead of splurging on that new pair of shoes, think about walking on the beach barefoot on your future vacation, or how you’ll have to remove your shoes upon entering your new home. You won’t get instant gratification, but good things come to those who can wait.

Transfer your spare change

Your spare change can add up!

If you have any tips of your own, feel free leave a comment here or contact us through our Facebook or Twitter pages. You can also check out our easy to follow blogs on saving money by clicking here: