Live Well: Simple Ways to Save More

Whether it’s for an emergency fund, college, retirement, or just a special treat, we all need to boost our savings from time to time, but that can be easier said than done.

If you need to find extra money in your existing budget, these ideas may help:

• Read your statements. Take a close look at your credit card and bank statements. You may find expenses you didn’t even know you had—such as recurring charges for services you no longer need.
• Raise your deductibles. Review your auto and home insurance policies to see if you can raise your deductibles. For example, bumping up your auto insurance deductible could save you hundreds of dollars a year. Just make sure you have enough emergency cash on hand to cover a claim in the event of an accident.
• Use the library. Libraries offer a wealth of free services—classes, e-books, audiobooks, print books, and more.
• Be smart about credit cards. Used properly, credit cards can be a great convenience and even help you save money. Choose cards that offer rewards programs tailored to your spending habits. For example, some give higher rebates for gasoline purchases. Also, make sure you pay the full balance on time every month to avoid late fees and interest charges.
• Bring your own lunch or snacks. Whether it’s at work or in the car, bringing your own food can help you save a surprising amount over time.

Track your savings

Keep a log of the money you have saved. Seeing your progress may motivate you to find even more ways to save.