Saving money doesn’t have to be difficult. Simply adjusting your daily spending habits can make a big impact on your budget. You’ll enjoy lowering your monthly expenses and being in more control of your financial future. Start small and gradually build up the funds for emergencies, to pay off debt, and save for retirement. Here are five simple ways to save money.


1. Be Thrifty & Spend Less

Buying pre-owned merchandise is much more affordable than buying new. Be a smart shopper. Choose second hand stores and consignment resellers over expensive department chains and boutiques. You never know what deals you’ll find out there, especially if you shop for vintage clothing. Most automobiles are made to last a while, so buying a used car — even a recent model year — will end up costing you less. New cars may have all the bells and whistles, but their value drastically depreciates when you drive off the lot. It’s easy to find home goods and decor for affordable prices. Explore for savings online by hitting up Amazon, eBay, or Facebook Marketplace to find decently priced, quality items.


2. Cook Meals at Home Versus Getting Take Out

According to CNN, a “typical food establishment charges a 300% markup on the items it serves.” That’s quite a bit more to spend on food you could just prepare yourself. You don’t need to cook every meal at home, but planning out meals for weekdays can make a small weekly impact that greatly lowers monthly expenses. Meal prepping is one way to plan meals in advance so you know what to buy at the grocery store. Doing this lowers the temptation to order take out.


3. Go the DIY Route for Home Improvements & Maintenance

Think about what needs to get done around your home. If it’s maintaining your lawn, cleaning out gutters, or trimming hedges, it will be much more cost effective to do these chores yourself. Do it yourself (DIY) projects like repainting cabinets,organizing shelf space, and installing light fixtures can all be done without hiring for help. There’s plenty of online resources and videos out there to help guide you through DIY home improvements. Do some searching around and you’ll be a DIY pro in no time.


4. Find Free Activities Near You

Finding free entertainment near you is extremely manageable. Go outside and enjoy the great outdoors. Take up a new hobby. Attend low cost shows. Free activities or staycations are an excellent and affordable way to spend time with family and friends. Every Dollar recommends looking for no-cost amusements, like free museums, parks and playgrounds, farmer’s markets, or local community events.


5. Start a Side Hussle for More Cash Flow

Working a second job is one way to pay off debt and student loans. Becoming a driver for Lyft is a popular method to bring in more funds. Drivers can create their own schedules and work whenever they’re available. Or, there’s another way to make money and save. What are you passionate about? Depending on what your hobby or passion is, you may be able to monetize it for extra cash flow. Side Hustle Nation has plenty of ideas to help you earn more money and enjoy doing it.


American Bank & Trust Can Help You Save Money

The best way to save money for future savings goals is to start a savings account. With American Bank & Trust, all you need to begin is a $50 minimum deposit and a $100 minimum average daily balance to earn interest each earnings cycle. We offer free online banking, mobile banking, eStatements, and unlimited withdrawals. Save Your Change is an excellent option too for saving up money. All you need is an American Bank & Trust Debit Card, and we’ll round up each transaction to the nearest dollar and deposit it into your savings account.* Our team of personal bankers are here to help you get started. Reach out to us with any questions or to help you set up a savings account!    


*The transfer will not occur if the account does not have sufficient funds to complete the transfer.  Both accounts remain subject to their individual terms and conditions. Any deposit account with a debit card is eligible for Save your Change.


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