10 Tools to Help You Save Money

Saving money is not an easy thing to do. It might seem simple, but living on less than you make is a tall order when the money is limited and the bills are piling up.

If you want to save money, you need all the help you can get. The good news is there is plenty of help available if you just know where to look. Here are 10 tools, tricks, and apps that can make saving money easier and more effective.

1. Direct deposit – Signing up for direct deposit will make your life easier and keep your paycheck safe, but you can also use it as a savings tool. Just direct a portion of every paycheck to a savings account and watch your emergency fund grow.
2. Workplace retirement plans – Your 401(k) at work just might be the best savings tool you have. Whether you start with a mere 1% of your pay or aim a bit higher, signing up for the 401(k) will force you to save, all while making it easy to invest in a better future.  
3. The Personal Capital app – The Personal Capital app is one of the best savings apps for your smartphone. With this simple app, you can track every penny you spend, making it easier to know exactly where your money is going.
4. Credit Karma – Keeping track of your credit and credit cards is important for your financial health, and the Credit Karma app is one of the best. The simple interface is user friendly and everything is easy to understand.
5. An adult piggy bank – You may be too old for a piggy bank, but you can still save your pennies. A cup by the door is the perfect adult piggy bank alternative, and you may be surprised at how fast the coins pile up.
6. A budget spreadsheet – Building a budget is hard work, but you can skip the drudgery and download a ready-made spreadsheet instead. You do not have to spend a dime to budget your money – you can easily find budget spreadsheets and apps for free.
7. Loyalty cards – Those loyalty cards you get at the grocery store and other retailers can be valuable tools for saving money, so say yes and sign up. When you do, you could get coupons, special offers, and all kinds of other goodies.
8. A high-interest checking or savings account – Making money on your money is a no-brainer, and finding the account with the best return is a great way to start saving money. If you look around, you can find accounts that pay 10 or even 20 times the national average.
9. The three-day rule – Impulse purchases can be hard on your savings, but implementing the three-day rule could stop them in their tracks. If you are contemplating a major, or even a minor, purchase, wait three days before going through with it.
10. Subscribe and save options – Many retailers now offer special prices for subscription purchases, and that could mean big savings for your household staples. You will still want to shop around and make sure you are getting the lower price, but the subscription model is always a good place to start.

Saving money has never been more important than it is today. With prices on the rise and wages stagnant, you want to make every penny you earn work that much harder. The 10 tips listed above will help you squeeze more spending power out of every paycheck, so feel free to use the ones you like best.