Hey Royals! Happy New Year. I hope you guys have had a stellar holiday season and your 2017 is off to a great start. This is the time of the year that most of us are embarking on new goals/resolutions and one very common goal revolves around finances. Many people want start the new year with the plan to save more money, but then life starts happening and the first thing thrown to the wayside is your savings goal. While I’ve shared a few ways to budget your money, and ultimately create a savings, I recognize that it can sometimes be hard to stick to a budget and be dedicated to saving money. This is why I’m going to share the 3 mindless ways the Boy and I will be growing our savings accounts this year.

Saving money can be hard, but here are three effortless ways to grow your savings account!

3 Effortless Ways to Grow Your Savings Account

The most important tip I can give when it comes growing your savings account is to prioritize it the same way you do paying bills, maybe even more. The way I see it, I go to work everyday and I deserve to be paid just as much as my bills. I literally make deposits into my savings account the same way I pay the internet bill. I consider my savings account “payments” when I do my weekly budgets and try to be sure to put SOMETHING in no matter what. It takes real discipline to grow your savings this way, BUT it’s totally possible to do it and barely feel any “pain”.

  1. Collect loose change in a jar. Where does your loose change end up? I don’t know about you all but mine just seems to accumulate and then I give it to those less fortunate that I happen to drive by. Thanks to my grandma, it dawns on me that I could be saving all this loose change, as she has done for me for as long as I can remember. Any change she finds on the ground she picks it up and throws in a jar. The Boy and I modified it a bit, and add any loose change in his pockets (he prefers to deal in cash) to the jar as well. We’ve done it the past two years and collected approximately $130 both years! Thought it may not be enough to retire on, it’s better than nothing!
  2. Every time you get a $5 bill, put it in savings. I haven’t tried this one, but The Boy is going to give it a try for 2017. As I mentioned, he prefers to carry cash instead of cards. His plan is to save every $5 bill, up to 4 each day, that comes into his possession. The main reason I think this will be mindless and effective is because not many people much thought to spending $5. Instead of spending it at McDonalds or Chick-Fil-A, why not put it aside for your future? If you’re like The Boy and deal mostly in cash, I’m sure you could easily be saving $10/day and in a month’s time that’s $300!
  3. Setup automatic transfers from your checking account to your savings account. When I opened my bank account, one of the easiest ways to avoid a monthly fee was to setup monthly automatic transfer of $25 between my checking and savings account. That’s $300/year with absolutely no effort on my part. I always factor it into my budget so that I know where every penny is going, but it doesn’t require me to actually do anything (other than making sure the funds are there). I’m planning to step my game up in 2017 by automatically transferring a budget friendly amount on every payday (so twice/month) to my savings. My savings account has a feature where you can only make 3 FREE transfers out of your savings, this strongly deters me from touching the money. So once it goes in, it’s basically in for good!

Saving money is hard, especially when you have a ton of bills. It is important to realize that saving $5/week is better than saving nothing at all and that most millennials people are also on the struggle bus when it comes to saving.  These three methods require minimal effort and really help you save without even realize you’re doing it!

Is saving money one of your 2017 goals? How will you be saving money this year? Which one of these methods is perfect for you?


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17 comments on “3 Effortless Ways to Grow Your Savings Account”

  1. These are great tips! When my husband and I lived in the US we put all of our $1 bills in a jar. After almost two years we had some nice spending money for our trip to Hawaii!

  2. Love these ideas 🙂

    I used to have it set up so that a percentage of my paycheck would immediately go into my savings account so I wouldn’t even see it at all. If you don’t know you’ve got it, you can’t use it! 😉

  3. The very first tip is something I learnt from my dad — those little bits of change sure do add up in the long run!
    And I’m definitely going to stick to that method in 2017 🙂

  4. Yes, yes and yes! Great tips. Starting now will take the edge of of holiday expenses be it for gifts or a trip. Even putting money aside now for a trip next year.

  5. These are very useful tips. Since we are planning to get a new house in this year, we need to be aware of how we spend our money.

  6. One of my tricks to save up is to take advantages of the rewards am getting from using my credit cards. And I even buy groceries for free by using my reward points.

  7. I SO need these! One o my goals for the year is to save more. I love the idea of setting up an auto draft. I need to do that so that I don’t realize that I’m saving LOL.


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