If your savings account is not as bountiful as you want it to be, you’re not alone. In 2017, 57% of Americans reported having less than $1,000 in savings, with 39% of those people having nothing at all.7
The importance of saving is straightforward: The stress of unexpected expenses — housing issues, lost jobs, medical emergencies, etc. — can be alleviated with the right savings plan in place. Unfortunately, many Americans are living paycheck to paycheck and struggles to find the room for savings. That’s why these tips and tricks can be really helpful! Here are easy ways you can start saving money today to help you when you need it most.
Stop Using Cards, Only Use Cash
While it’s become commonplace to use cards for payment, it can be start using cash. There are a few benefits to using paper money over your debit or credit card. For starters, the ease of cards (and access to credit) makes it easy to overspend. Using cash eliminates the option of spending the money you don’t have. Also, studies have shown that we tend to value items more when we pay with cash because we can physically see our money leaving our possession, which results in more cautious spending and spending less overall.