Lifestyle Changes to Boost Savings

By Kris McDowell

Was one of your New Year resolutions to bolster your bank account? How’s that coming? If the answer is “not so good” or you’re feeling lost about how to achieve that goal this year, Amy Maliga with Take Charge America, a nonprofit, credit counseling agency has some tips. 

“Looking to boost your savings is a worthy goal. But to make it work, you have to take small steps that add up to big change over time,” she says. “By exploring a few small changes in your day-to-day life, you can curb spending and put more money in your savings throughout 2023.”

Start living on a budget

When you have a clear picture of your income and expenses, you can make needed changes to prioritize or improve your savings. Use paper and pencil, a spreadsheet or one of numerous apps like PocketGuard or Mvelopes to track your spending. Keep track for 30 days to get a sense of where you can save.

Deposit cash-back rewards

If you have a cash-back credit card, deposit your rewards directly into your savings account. This way, every time you use your credit card, you’ll automatically add to your savings. Just be sure to pay off your card balance on time each month.

Upgrade your bank account

If your existing savings account isn’t yielding much interest, shop around for an account with a better rate. A higher rate can help you reach your savings goals more quickly. If your checking account is charging too many fees, research free checking account options that can help you save even more.

Declutter your email

Tempted by too many emails from your favorite retailers? Go through and unsubscribe to eliminate the temptation. Do it manually or use email decluttering service like Unroll.Me or Clean Email to unsubscribe from unwanted emails quickly and easily.

Compare prices

Spending a few minutes to compare prices can save you money in the long term. Use apps like ShopSavvy or BuyVia when out shopping to scan barcodes and find the best price. 

When shopping online, install browsers extensions like Honey or InvisibleHand that alert you of a lower price for an item you’re about to buy. They also find sales and promotion codes to ensure you’re getting the best deal.

Like any change that is likely to stick, changes to spending and saving habits done by starting small are most likely to yield the longterm results. Visit Take Charge America at for additional tips so that when 2024 rolls around you can feel good about the changes you were able to make.

Lifestyle Changes to Boost Savings

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