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Jason Schneider
The Nickel Builder
Begin saving 5 cents on the first day, and increase the amount you set aside by a nickel each day: a dime, then 15 cents and so on for a year. The most you'll put aside is $18.25 on day 365. By then your pot will have grown to $3,339.75.
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Jason Schneider
The Lincoln Logger
Set aside every $5 bill you receive as change in an envelope stashed away at home. Raye Scott, a real estate agent in San Diego, says she saves about $1,400 a year that way — then spends it on something like artwork or jewelry.
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Jason Schneider
The College Rewind
Try to spend exactly like you did in college for one week every three months. Don't buy anything you couldn't afford then, and don't use credit cards. Seek out free entertainment; eat ramen noodles and simple salads. Put away the money you save.
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See AlsoBiggest Banks in Sweden: Overview of Swedish Investment Banks - AfrokonnectHow to Invest Your IRA - NerdWalletMillennials Are Sharing Money Lessons They Learned The Hard Way, And We Hope Gen Z Can Learn From Our MistakesI’m a Financial Planner and Founder of ‘The Fiscal Femme’: These Are My Top 100 Money Tips Everyone Should Follow -
Jason Schneider
The Perpetual Payoff
After paying off a car loan, credit card debt or a lingering student loan, don't stop. Continue making those monthly payments — but put the money into a savings account instead. You'll build a nest egg without having to change your lifestyle.
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Jason Schneider
The Bank Hideaway
Directly deposit part of your paycheck into a savings account — but not just at any bank or credit union. Make sure it's one that you normally don't use and for which you don't have an ATM card, so that pulling money out won't be so easy.
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Jason Schneider
The Bonus Diversion
Direct any bonus or bump in pay you get at work directly into a savings account. Because you never had it to spend anyway, you won't miss it. Similarly, investors can transfer quarterly stock dividends into a savings account, growing savings painlessly.
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Getty Images
AARP Offer: Protect your money, grow your nest egg
Take advantage of great information and tools and subscribe toAARP's Money Newsletterto help build your future and prevent your money from going down the drain.Join AARP and start saving for your dreams today.
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Jason Schneider
The Double Deal
Devote a day or two to negotiating better deals on all your recurring expenses, such as cable TV, phone service, gym membership and car insurance. Keep track of how much you reduce expenses, then move that amount each month into your savings account.
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Jason Schneider
The Change Keepers
Bank of America's Keep the Change program will round up a customer's debit-card purchases to the nearest dollar and transfer this extra change into savings. So a $3.50 cup of coffee is rounded up to $4, and the extra 50 cents is directed into savings.
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Jason Schneider
The Savings Shuffle
Some banks and credit unions allow you to open multiple accounts, giving each a name for a specific goal, such as a cruise or kitchen remodel. You set them up so that money from your paycheck or checking account is automatically deposited into these subaccounts.
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Jason Schneider
The Coupon Coup
Each time you use coupons, put the amount you save in the bank. Don't like using coupons? You can do the same thing if you belong to a supermarket's loyalty program. When you get a tally at the register of how much you saved, set aside that amount for savings.
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Jason Schneider
The Coin Competition
Create a contest among friends or family members on who can save the most money in coins over a period of time. When done, put the money into savings. As an incentive for family members, combine all the savings for a year and use the money for a family outing.
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Jason Schneider
The Money Transfer
Tech-savvy savers can boost savings with Acorns, an app that connects to your debit and credit cards. When you make purchases, Acorns rounds the price up to the nearest dollar and invests the extra change in a portfolio of stocks and bonds — for a $1 monthly fee.
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View More On How to Save
- Ways to save on technology
- Ways to save on travel
- Ways to save on entertainment
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Tricks to Save Money (2024)
Table of Contents
The Nickel Builder
The Lincoln Logger
The College Rewind
The Perpetual Payoff
The Bank Hideaway
The Bonus Diversion
AARP Offer: Protect your money, grow your nest egg
The Double Deal
The Change Keepers
The Savings Shuffle
The Coupon Coup
The Coin Competition
The Money Transfer
View More On How to Save
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