7 Must-Do Things To Increase Your Savings

Saving money doesn’t have to be a stressful or daunting task. In fact, with a few simple changes, you can start to see your savings grow faster than you might expect. Whether you’re saving for a big purchase, building an emergency fund, or just trying to be more financially secure, there are some must-do steps that can help you get there.

The great thing about these tips is that they’re easy to implement and will make a huge difference over time. Let’s dive into seven practical things you can start doing today to increase your savings.

1. Track Your Expenses Consistently

If you don’t know where your money is going, it’s hard to save more of it. That’s why tracking your expenses is so important. You don’t need to get fancy with it—a simple spreadsheet or even an app can help you see what you’re spending on and where you might be able to cut back. When you see those little expenses adding up, it’s eye-opening! You might not think much about that daily coffee run, but when you tally it up, you’ll see how much it’s costing you.

Once you have a good grasp on your spending habits, you can make smarter decisions about where to save. For instance, you might notice that you’re paying for things you rarely use, like subscriptions or gym memberships. Even small adjustments, like packing lunch instead of eating out, can make a significant impact over time. It’s all about awareness and making intentional choices.

The great thing is that tracking your expenses doesn’t have to take a lot of time. Set aside just a few minutes each week to review your spending, and you’ll quickly start noticing patterns. From there, it becomes easier to spot opportunities to save without feeling like you’re depriving yourself.

2. Automate Your Savings

One of the best ways to ensure you’re saving regularly is to automate it. This takes the guesswork (and the temptation) out of saving because it happens without you even thinking about it. Set up an automatic transfer from your checking account to your savings account on the day you get paid. It’s like paying yourself first before you have the chance to spend that money elsewhere.

Even if it’s just a small amount, it adds up. Over time, you’ll be surprised at how much you’ve saved without even trying. Plus, since the money never hits your checking account, you won’t miss it! Think of it as building a financial safety net that grows every month.

The beauty of automating your savings is that it turns saving into a habit. Once it’s on autopilot, you won’t have to think about it, and you’ll always be progressing toward your financial goals. So set it, forget it, and let your savings grow.

3. Cut Unnecessary Subscriptions

In today’s world, it’s so easy to sign up for subscriptions, whether it’s streaming services, apps, or even meal kits. But how many of those do you actually use regularly? Take a few minutes to go through your bank statements or subscription lists and cancel the ones that aren’t adding real value to your life.

It’s easy to forget about these little charges when they’re only $5 or $10 a month, but they add up fast! Canceling just a few unused subscriptions could easily save you $50 or more each month—that’s money you could be putting toward your savings instead. Plus, you might even find that you don’t miss those services once they’re gone.

So, go ahead and do a quick subscription audit. It’s a small step that can lead to bigger savings, and once it’s done, you’ll feel a lot better knowing you’re not throwing away money on things you don’t really need.

4. Create a Budget and Stick to It

Budgeting can sound boring, but it’s one of the most powerful tools you have for saving more money. A good budget helps you see exactly where your money is going and ensures that you’re prioritizing your savings. The key is to make it realistic and flexible—something you can stick to long-term without feeling like you’re constantly restricting yourself.

Start by listing out your income and your fixed expenses (things like rent, utilities, and groceries). Then, decide how much you want to save each month and build the rest of your budget around that. Don’t forget to leave a little room for fun or unexpected expenses, too!

Once you have your budget set up, the hard part is sticking to it. Check in with yourself regularly—weekly or monthly—to make sure you’re staying on track. It’s okay to make adjustments along the way, but always keep your savings goals in mind. Over time, you’ll get used to living within your budget, and saving will feel like second nature.

5. Negotiate Bills and Expenses

Most people don’t realize that a lot of bills and expenses are negotiable. From your cable bill to your cell phone plan, many service providers are willing to offer discounts or better deals if you just ask. It might feel uncomfortable at first, but what’s the worst that can happen? The best-case scenario is that you save money every month just by making a phone call or sending an email.

Start with your biggest bills—things like insurance, utilities, or internet service. Call your providers and ask if they have any promotions, discounts, or loyalty deals. Even if they say no, it’s worth checking every few months. You’d be surprised at how often rates change, and companies are willing to work with you to keep your business.

Another way to negotiate savings is by shopping around for better deals. Don’t be afraid to switch providers if you can get a better rate elsewhere. Small savings here and there can add up to a lot over time, especially when it comes to recurring monthly expenses.

6. Set Clear Savings Goals

It’s a lot easier to save when you have a specific goal in mind. Instead of just thinking, “I need to save more,” get clear about what you’re saving for. Maybe it’s an emergency fund, a down payment on a house, or even a vacation. Whatever it is, knowing your “why” makes saving feel more rewarding.

Once you’ve set your goals, break them down into smaller, manageable steps. If you want to save $5,000, for example, figure out how much you need to set aside each month to reach that goal by your target date. This makes the goal feel more achievable and gives you a clear roadmap to follow.

Don’t forget to celebrate your progress along the way! Reaching a savings milestone, no matter how small, is a big deal and deserves a little reward. Treating yourself occasionally will keep you motivated without derailing your overall savings plan.

7. Find Ways to Earn Extra Income

If you’re serious about boosting your savings, finding ways to bring in extra income can make a huge difference. This doesn’t mean you need to take on a second full-time job, but even a little bit of extra cash each month can go a long way. Consider things like freelancing, selling items you no longer need, or starting a small side hustle based on your hobbies.

The great thing about earning extra income is that you can decide how much time you want to put into it. Maybe it’s a weekend gig or something you do a few evenings a week. Whatever fits into your schedule, that extra money can go directly into your savings and help you reach your goals faster.

Plus, there’s a certain satisfaction that comes from earning more and knowing it’s going toward something meaningful. Whether it’s saving for the future or just building a little more financial security, every extra dollar counts!

Increasing your savings doesn’t have to be overwhelming. By making a few smart moves—like tracking your expenses, automating your savings, and finding ways to bring in a little extra income—you’ll be well on your way to reaching your financial goals.

Remember, it’s all about consistency and staying motivated. Every small step adds up over time, and before you know it, you’ll see your savings growing faster than you thought possible. You’ve got this!