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4 Money Saving Tips for Every Budget

Are you looking for ways to save money? Even if you think you don’t make enough money to start saving for the future, we’ll help you find ways to save. Start by creating a realistic budget and evaluating your spending habits.

These four money-saving tips will help you gain control of your finances. Keep reading to learn more.

Save More Money: Use a Budget

money saving tips

Saving more money today starts by creating a budget. Many financial experts recommend 50/20/30 rule of budgeting. First, divide your monthly income in the following way:

Sounds simple, right? Budgeting might seem easier said than done. Here are four tips that will help you save money in all three categories to meet your budget goals.

Money-Saving Tips to Meet Your Budget

learn tips to save money

1. Save money at the grocery store. Plan your weekly menu around specials at the grocery store. Stock up on non-perishable sale items. Clip coupons and shop on double coupon days. Skip name brands and buy generic items.

2. Lower your utilities bill. Install low-flow toilets and faucets. Fix leaky faucets. Install programmable thermostats and set temperatures a little lower in the winter and a little higher in the summer. Turn off lights and the TV when not in use. Your utility bill will drop each month.

3. Open an account dedicated to savings. You may save more money if you use a dedicated savings account for your financial goals instead of keeping all of your funds in a checking account. Arrange for automatic transfers into your savings account on payday or directly deposit a portion of your check into savings. 

4. Limit your restaurant meals. Eating out can be expensive; limit your meals at restaurants to a reasonable number each month. Try new recipes at home to keep your meals interesting. Make cooking a family effort and involve your entire household in meal-planning. 

What to Do with All the Money You Save

Finally, make the most of your hard-earned savings by choosing a bank that will effectively manage your money. Opening a high yield savings account with Synchrony Bank is easy.

We provide quick withdrawals online, over the phone or with an ATM card*. In addition to our award-winning customer service, customers also find that we have no minimum balance or monthly service fee on our high yield savings accounts. Our accounts are FDIC-insured up to $250,000 per depositor for each ownership category.

Call 1-844-345-5789 today to learn how Synchrony Bank can help you save money today.

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Source:

Forbes: https://www.forbes.com/sites/trulia/2016/07/11/new-to-budgeting-why-you-should-try-the-50-20-30-rule/

*Federal regulations limit the number of electronic and telephone transactions you can make with your High Yield Savings and Money Market accounts to six transfers or withdrawals per monthly statement cycle. If you exceed these limits, we may close your account.


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