3 Extremely Easy Ways To Save Money This Year

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Family finances: Easy Ways to Save Money

Annually, when the new year comes up on the calendar, everyone seems to scurry to make resolutions for the year ahead. This year, include a realistic financial resolution. Find out easy ways to save money for your family this year.

Every year it is important to set family goals. This is a great way to ensure that you are improving each year.

One of the areas of focus for families is finance. There are many ways that families can save and budget during 2019 to improve their financial standing.

Let’s discuss some of the simple ways to save money so your family can give their bank account a boost this year!

Create A Budget

One of the first ways to save money is to create a budget.

Families may have a complicated budget which could include a variety of things like clothing, food, the cost of children’s activities, mortgage, car payment, health related expenses, and other miscellaneous costs.

Break down your expenses into groups, and see if there are any areas that you can cut down on.

For example, you can often cut back on costs by buying non-perishable items in bulk. You can also save by having the entire family on one health insurance if possible. That way both adults are not having that expense taken from their paycheck; you just have to weigh out your options!

You can find more about building a family budget here.

Automate Savings

The next step is to save.

Beyond cutting back on expenses within your set budget, it is important to set up emergency savings.

It is recommended that you have 3-6 months worth of expenses saved up.

Luckily, there are companies that offer an automated savings feature which makes it simple to set aside money each month to go towards an emergency savings account.

I’m sure this is one of the easiest set it and forget it ways to save money.

These savings could also be used to pay for a large expense like a family vacation if you already have an emergency fund built up!

Invest

Another way your family can get in better financial standing is to invest.

It is an excellent way to create a better future for your family and one of the best ways to save money.

Investments can be used for a child’s college fund, or go towards your retirement. Be sure to do your research before deciding where to invest your money.

This article shares some great tips for novice investors.

More Ways To Save Money

Check out the graphic below for some additional tips on how you and your family can save this year!

Infographic on ways to save money.
Image Credit: Chime

Make Savings a Priority

Now that you have some extremely easy ways to save money for your family, you just need to make it happen. Write it on your calendar to ensure you remember.

If you need more guidance, consider enrolling in Family Money School. It provides financial lessons that walk you through each aspect of personal finance and outlines how to teach your children about money management right alongside you so you can learn together. Lessons use real life and engaging activities to keep your children focussed and to maximize learning.

What is your best tip for saving money? Let me know in the comments below.

Make finances a priority this year by following these easy ways to save money.
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Founder, Editor, Writer Abrazo and Coze

Anna Anderson is an ordinary, easy-going Canadian mom to three girls (Cat-1996, Monkey-2014, and Fang-2017). She enjoys life with her two youngest children, and her soul mate, Mr A, in Eastern Ontario. She has the requisite mountain of laundry (either dirty waiting to be washed and dried, or clean waiting to be folded and put away), her children get dirty and sometimes live life naked. Her goal here is to empower laid back families like yours to live your best life by providing practical solutions to everyday problems covering topics including kids, love, and life… without the stress of aiming for SuperParent status.

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34 thoughts on “3 Extremely Easy Ways To Save Money This Year”

    • I felt like that when I first started online banking. And again for automated savings. So, I completely understand! It’s hard to let a computer take over. (But you’re right, it is great for those of us – like me – who aren’t great at saving.)

  1. I just started saving plan myself and I hope I would be able to live with it. I am utilizing the growth acct for savings to separate the ones for bills! Very helpful tips!

    • It’s so important to have the two separate, so you can maximize the interest on your savings account. Depending on your bank, you can even have your chequing account automatically round up transactions and transfer that amount directly to the savings account.

  2. Yes, the first step is the most important one: to create a budget. We may plan things to do and places to visit, the time and the company, yet not expenses. Good to be reminded so.

  3. I absolutely needed these tips! I am bad at planning and budgeting. But past one year had been tough financially. Thanks for sharing these great tips

    • Getting everything set up can take a bit of time, and it takes effort to follow through on budgets, but if you put in that effort, you’ll start seeing benefits. Good luck getting the finances sorted. I know how stressful that can be from first hand experience.

    • I’ll have a look. I imagine the methods of savings would be different for preppers than those of us that are not. If/when shtf, I don’t imagine the banks will be working for long… just different types of emergency funds, perhaps.

  4. Saving and managing finances are so crucial to everyone! I love that investing was in your list because it is still something that many families are not aware is an option ( worthwhile option) for them!

  5. YES!!! The budget has made a huge difference for my husband and I. We started taking it seriously in November 2017 and because of this we have made so much more financial progress than we would have otherwise! Great share!

    • Way to go! Taking the time and effort to create a budget can be a huge step. And it can be a challenge to follow, too. So, kudos to you and your husband for getting it done, and for coming out successful because of your hard work and effort!!

  6. I really do need to look into investing. This is something I’ve been thinking about for awhile and your post reminded me of that. Thanks so much for sharing such great tips!

    • I started investing when I was still in university… it wasn’t the greatest experience. What I learned is you need to get a really good financial advisor if you don’t have time or inclination to do it yourself.

  7. My top tip is to have multiple accounts. If you are spending, saving, and paying bills with one checking account, you’re bound to run into problems.

    • Excellent tip! I tried to do that when I was younger. I always ended up dipping into my savings because it was so easy. Now, I have an account that requires 24 hours advance notice to withdraw so can’t be used for impulse purchases. The inconvenience of the delay works for me.

  8. These are great tips! I’m not going to lie, I am not the best at saving, but I know as I get older it is one of those important things that I will likely appreciate in the future. I will definitely be keeping your tips in mind!

    • The round up apps and accounts really do us a huge favour. Imagine if you started now how much you’d already have socked away by the time you’re thinking more seriously about saving.

    • I have a friend who puts away savings on things she buys… so if she buys something on sale, she puts the difference between the sale price and the regular price into her savings. Definitely fits the “money saved is money earned” sentiment.

  9. Admittedly my daughters are killing me financially. I love them to death but how much dance can two girls do!!!! 🙂 All kidding aside budgeting is important I have always tried to subscribe to paying yourself first when you can. I’ve also been using Acorns (the app) as of late and it’s a great way to round up purchases and save. You don’t even realize it’s happening and before you know it you have a nice little savings occurring. Great tips.

    • Acorns is good for that, as are a few others that are similar. Plus, dance is an amazing sport to be involved in… even if it is expensive. Kudos to you for paying yourself first!

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