Inside: No gimmicks! 5 tried and true ways to save money fast and meet your savings goals. Sponsored by Regions Bank.
I’ve written about how to save large amounts over time (like how to save $10,000 in a year) and how to save money for vacation.
But what if you need to save money fast?
5 Ways to Save Money Fast
Sometimes life gives us financial deadlines that we cannot change, so instead we need to change our savings (and spending) habits.
The good news is that you don’t need to do anything wild or wacky to save money quickly — what really works is putting a tried and true system in place…and sticking to it!
The following are real methods that my husband and I have used (and still do) to save money fast:
1. Start a Savings Account
According to a recent study, over one third of all Americans have no savings. That’s what we’re here to change!
Even if you already have a savings account, if you want to save money fast, it helps to create a new savings account for your specific savings goals.
For example, if you’re saving for a down payment on a home, you would open a savings account just for your house fund. That way there is no confusion or chance that you’ll unintentionally spend money from your savings on daily expenses.
To save money fast, you need to be able to easily add money to your savings accounts, whether in person or remotely. That’s why it’s so important to choose a bank with locations convenient to you.
Regions Bank operates approximately 1,469 branches and 1,899 ATMS across the South, Midwest and Texas. With seven Houston-area locations, there’s always a Regions Bank nearby!
Plus, Regions Bank makes saving even easier with DepositSmart ATMs®, which can accept deposits and cash checks for customers at any time, day or night.
Some Regions Banks even offer Video Banking ATMs, which are live two-way video systems that connect customers with a Regions Video Banker to process most teller transactions. They’re available during extended hours on weekdays as well as on weekends and most holidays.
Now there’s no excuse not to put money into your savings account!
2. Make a Budget
To start saving, you first need to know how much money you’re spending.
When I quit my job four years ago, my husband and I had to adjust to living as a one income family. While we both worked, we never worried too much about a budget, but after cutting our income in half, things needed to change.
After taking a hard look at our spending habits, we realized that we spent a ridiculous amount on food — both by eating out and inefficient grocery shopping. I’d always thought I was pretty good with money, but taking inventory of our monthly spending showed that there were definitely areas for improvement.
This led us to create a food budget that saved us over $1000 a month.
Once you see how much money is going out the window on small stuff, you might feel a little embarrassed at first — but don’t be!
You’ve just found a source for extra savings!
When you know how much money you’re spending on non-essentials, you’ll be more inspired to save it instead.
Plus, when you create a serious budget that works, you’ll probably have more cash to put away towards your savings goals!
3. Set a Goal
Want to save money faster? Set a specific goal!
Instead of simply saying, let’s save for a vacation this summer, I’ll tell my husband: We need to set aside $1500 to be able to take a vacation.
By creating a specific savings goal, I’m way more motivated to hit that target. Not only do I not want to fail, I actually try to exceed my goals!
Think of it this way: you can’t reach a goal that you never set!
4. Earn Extra Money
Another way to save money fast is to make more money in the first place.
I know, I know — we all would love to earn more money. Easier said than done, right?
Actually, there are quite a few ways to put some extra cash in your savings account that don’t require looking for a new job or doing anything out of the ordinary.
These are just a few of the things my husband and I did to earn extra money after I quit my job:
- Create a “coin jar” and cash it in when the jar is full. — Believe it or not, my husband and I are able to round up a couple hundred bucks about twice a year with coins alone!
- Sell things you don’t need. — Once a year, my mother-in-law has a garage sale in her neighborhood. In the weeks leading up to the big day, my husband and I round up all clothes our girls have outgrown, toys that are no longer used, and anything around the house that’s collecting dust. Every year we earn a few hundred extra dollars and our neighbors find some great bargains!
- Start a blog. — When I first started my blog, I had no idea that you could make a living blogging. I didn’t know you could make any money at all! However, when I saw other successful bloggers supporting their families with their online business, I started studying ways that I could do it too. Blogging has been life-changing for our family! Other viable home business ideas include: freelancing, selling arts and crafts in an online shop, and working as a virtual assistant.
The more money you can bring in, the more money you can save!
5. Believe in Yourself
Setting a savings goal might seem intimidating, especially if it is a large amount like a car or house.
However, if you want to save money fast, perhaps the most important thing of all is to believe that you can do it.
Having the right people in your corner is also a game-changer. Regions Bank is known for its award-winning customer service, as well as their innovative branches and technology.
All Regions Bank branches use Facial & Fingerprint Recognition for their safe deposit boxes.These enhanced security features help protect your valuables and improve efficiency.
Regions Bank also provides you with the financial expertise you need to stop worrying about money and start meeting your savings goals.
You’ll definitely want to take advantage of tools like Regions Virtual Concierge. This team of Virtual Concierge Bankers are available to answer your financial questions, from anywhere.
They can talk you through everything from Online Banking to Remote Check Deposits, as well as advise and guide you on both short and long-term financial planning.
You can use whichever means of communication that is most convenient for YOU, whether that’s email, chat, phone, or even LinkedIn! With the flexibility to bank when and where you want, Regions Bank helps set you up for savings success!
Click here for more information about how Regions Bank, Member FDIC can help you reach YOUR savings goals!
Regions Bank NEW Houston Branch Locations
Regions Bank recently opened two new branches, bringing their total Houston-area locations to seven.
New Regions Bank branch locations now open:
3773 Richmond Avenue
Houston, TX 77046
Northbrook (Pine Hollow)
11150 Northwest Freeway, Suite 300
Houston, TX 77092
Click here to see ALL Regions Bank, Member FDIC locations!
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