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“Saving money” is always a great goal. Whether you’re rebuilding an emergency fund or want to get a head start on a significant purchase, saving for the future can provide a well-deserved confidence boost.

One way to save more money is by hacking your habits. Even making small tweaks to your spending behaviors can pay off over time.

Below are some simple tips that can give your savings efforts a well-deserved boost. Even if they seem small, committing to them over time will help you invest in yourself and reach your savings goal more effectively. Try these out and see how the savings can add up.

Before we begin, it may help to brush up on a few basic budgeting tips, like recording expenses and tracking your spending from month to month. For a crash course, read one of our articles on budgeting here.

Shop Smarter With Lists, Price Comparisons, and Rewards

Rethinking your shopping approach can significantly reduce your total expenses from one month to the next. By having a plan for each grocery run or store trip, you can buy what you need while reducing impulse purchases. 

A shopping list can help you stay on track and look past distractions. Before you leave home for the supermarket or department store, have a goal in mind. Use your phone’s note-taking app or a piece of paper and a pencil to draft a list of the things you need. Think of it like a goal or setting a boundary. 

Shopping lists really shine on recurring trips, like when you’re going out for groceries or need to restock supplies for chores and yardwork. They are also handy to encourage accountability to yourself. When you have a shopping plan and manage to stick with it, you’ll feel more confident in managing your money.

You can take your savings further by doing comparison shopping. Compare prices across several brands of a similar item to see if there are lower-priced alternatives. Of course, you are welcome to prioritize quality over cost when it makes sense to you. 

Store apps and online catalogs make it easier to compare the prices of identical items. If there’s a specific item you’re searching for, look it up across several retailers. You may be able to score satisfactory savings with a little detective work.

If you have a credit card with a rewards program, make sure to use it for purchases. Rewards points can accrue quickly if you use a credit card frequently. In turn, you can get cash back or even reimburse yourself with statement credit if you have a sufficient rewards balance. Remember that this benefit is a lot like having money on the table. In other words, points are meant to be used!

Cancel or Downgrade Subscription Services

Subscription services can quietly eat up portions of your budget. If you don’t keep track of when and how often you get charged, you may find yourself short on cash when you least expect it. 

Not only that, subscription services can easily impede you from reaching savings goals if not managed actively. Worse, you get charged for the service even if you didn't use it. Therefore, you’ll want to monitor how much and how often you use this type of service.

Take an inventory of all the subscription services you might be signed up for now. They may take many forms, like:

• Streaming services
• Cable or satellite services
• Premium food delivery memberships
• Software subscriptions
• Gym memberships
  

Next, determine the value that you’re getting from any given service. Maybe you aren’t going to the gym as often as you like. Perhaps you’ve resolved to eat out less, which makes food delivery irrelevant. Ultimately, only you can decide if a given subscription is worth the cost. 

Cancel any subscriptions you believe are no longer necessary. Once you’ve done so and have gotten rid of what you no longer need, it will feel like putting money back in your pocket, month after month.

Remember that there are viable, cost-effective alternatives to many subscription services. For instance, calisthenics or even a pair of free weights can replace going to the gym. Your local library is also a treasure trove of entertainment, with many collections now offering movies and music to rent for free. Getting a little creative can go a long way in keeping costs low.

Put the Money You’ve Saved Towards a Specific Savings Goal

Now that you’ve adopted some strategies and are starting to keep money in your checking account, put those savings to work. When you put the money you’ve saved towards a goal, you’ll feel more motivated and give purpose to all those cost-saving measures.

Think of a goal where you can pitch your savings. Some possibilities include:

• Setting up an emergency fund.
• A family vacation or holiday engagement.
• Paying down outstanding debts.
  

Next, take the money you’ve saved over a given period and put it towards your goals. This is why it’s important to track your spending month to month so you can compare your performance and adjust as needed.

One strategy that may help you stick to saving is to keep your funds in separate accounts. Transfer your money to well-labeled savings accounts, so you are reminded of their specific purposes. These “buckets” can help you set boundaries while also making it easier to monitor your balances. Many financial institutions allow users to label accounts on their online banking platforms to make them easier to reference.  

Here’s one recommendation to help you kickstart your savings: Remember all those subscription services you canceled? Add up the total of all the money you’ve saved from these services and instead set up an automatic transfer to a purpose-driven savings account. This strategy allows you to “sign up” for the most important subscription of all: investing in yourself.

Meet Your Savings Goals Seamlessly

The small and purposeful changes we make daily can add up to something grander. When you make saving money as part of your goals, remember that consistency will pay off over time.

Eventually, you can find opportunities to reduce costs while giving your savings extra attention. Always find those chances to save, even if it seems insignificant at the moment. You may be surprised at how quickly those savings add up!

First Florida is your partner in forming financial habits that stick. Visit our Featured Articles section for more pointers on how to make saving money part of your daily life.