danielojeda12

· 07 Jun 2021

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10 ways to save money

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1. Eliminate Your Debt
If you are trying to save money through a budget but still carry a large debt, start with debt. Are you not convinced? Add up how much you spend per month on debt support and you will quickly notice. Once you are free to pay interest on your debt, that money can be easily saved. A personal line of credit is just an option to consolidate the debt, so that it can be better cancelled.

2. Set savings targets
One of the best ways to save money is by visualizing what you're saving for. If you need motivation, set savings goals with a timeline to facilitate savings. Do you want to buy a home in three years with a 20 percent down payment? Now you have a goal and know how much you will have to save to reach your goal. Use Regions Savings Calculators to Achieve Your Goal!

3. Pay yourself first
Set up an automatic debit from your checking account to your savings account every payday. Whether it's $50 every two weeks or $500, don't be fooled with a healthy long-term savings plan.

4. Quit smoking
No, it's really not easy to quit smoking, but if you smoke a package and a half a day, it means about $3,000 a year that you could save if you quit. According to the Centers for Disease Control and Prevention, the percentage of Americans smoking cigarettes is now below 20 percent for the first time since at least the mid-1960s — join the club!

5. Take a holiday at home
Although it may sound biased, the idea behind this is solid: instead of spending several thousand on plane tickets, look at your own yard for a fun holiday near home. If you can't drive, search for cheap flights in your region.

6. Spend to save
Let's accept it, it's not usual for electricity costs to be reduced over time, so take the reins now and heat your house.. Call your electricity company and request an energy audit or find a certified contractor who can perform a review of energy use throughout your home. This can mean from simple improvements such as sealing windows and doors to installing new insulation, linings or appliances and high-efficiency ENERGY STAR products . Can save a lot of money on electricity costs over time.

7. Electricity savings
By lowering your water heater thermostat to 10°F, you can save 3 to 5 percent on energy costs. And the installation of a water heater on request or without a tank can give savings of up to 30 percent compared to a standard water heater with storage tank.

8. Pack your lunch
An obvious tip to save money is to find everyday savings. If buying lunch at work costs $7, but taking it from home costs only $2, over a year you can create an emergency fund of $1250 or make a major contribution to a college or retirement fund.

9. Create an account that generates interest
For most of us, having savings separated from the checking account can help us reduce the trend of withdrawing funds from those savings from time to time. If your goals are longer term, consider products with higher performance rates, such as a Regions CD or a Regions Money Market account for even greater savings.

10. Annualize your expenses
Spend $20 a week on snacks on the vending machine in your office? That means $1,000 you're withdrawing from your budget in soft drinks and snacks every year. Suddenly, that habit becomes a considerable sum.