In part one we looked at the following three ways you can start learning how to save money:
- Create a budget to track where and how you spend.
- Save at the grocery store by making smarter buys, sticking to your list and using coupons.
- Don't pay ATM fees by planning ahead and making smart checking account choices.
Read on for three more tips on how to save money.
Pay Bills on Time.
For every new cell phone or utility service, there's always another bill. One way to save money is to make sure you always pay bills on time so you don't incur late fees. Consider automating your bill payments online or set up calendar reminders on your mobile device or computer to notify you when bills are due.
Let's face it; thinking about how to save money isn’t as exciting as thinking about how to spend it. So if you find that it's tough to actively save money, why not save automatically? Most employers today offer direct deposit to multiple bank accounts. Having a flat dollar amount or percentage sent directly to the savings account eliminates the extra step of remembering to transfer funds on your own. If you already have Ally Bank Interest Checking, you can open an Online Savings Account and allocate a certain percentage of your paycheck to deposit automatically into savings. You might find you don't even miss the money. In just a few short months, you could be surprised how quickly it's adding up.
Save on Transportation Expenses.
Whether you're driving to work or taking the kids to soccer practice, transportation costs can add up. Finding ways to reduce the amount of money you spend on transportation can be a great way to increase the money you're putting into your savings. A few tips:
- Find the lowest prices on gasoline. Use phone apps or other strategies to find the best deals in your area.
- Consider alternatives to driving yourself to work. Carpooling can be a good option if you live close to coworkers. Taking public transportation—even a couple days out of the week—can also help reduce the amount of money you spend on gasoline and reduce wear and tear on your vehicle.
Keep your car in good running condition. This can help save money both in the near term, as your car runs more efficiently, and further down the line as you avoid costly, preventable repairs.
Whatever your savings goals, Ally Bank is here to help. Explore our savings products and more at Allybank.com or call live, 24/7 customer care at 877-247-ALLY (2559) today.