Has your budget been feeling a little too snug for comfort recently? Are you looking to go on a nice long vacation, but don’t have the savings to pay for it? Would you like to have some extra cash in your pocket for a rainy day?

Knowing how and where to save money can be tricky, but we’ve come up with a few ways to save money each and every month.

Do You Have Any Subscriptions You Aren’t Using?

We live in an age of monthly subscriptions. You can have subscriptions for television, music, video games, food, clothes, toys, shoes, razors, makeup and even monthly boxes for cat or dog lovers.

The problem with monthly subscriptions is that it’s very easy to forget to cancel them, especially when not actively using it. You might have even signed up for something, discovered you don’t like what’s being offered, and still forget to cancel it before the next month.

A good way to save on subscriptions (especially if you have several) is to go through last month’s statements and see exactly what services you are paying for. If there are any you didn’t use last month (and aren’t planning on using next month) cancel it. Next, look at the ones you don’t use very often and do a trial month of not getting it. If you find yourself not needing it, that’s more money you save!

Use Your Local Library or Join a Swap Group

Did you know that the Boise local libraries, (and many libraries in the United States) let you check out movies, video games, CDs, and digital books? For free even! So instead of buying the latest marvel movie from the store, see if you can just rent it from the library and save 20 bucks! As for video games, depending on how long a game is, two weeks might be more than enough time to beat it, saving you potentially 60 dollars.

You can also join a local or online swap group to borrow entertainment and things like clothing instead of having to buy everything yourself. This does require a little more trust with other people and there is always the risk of getting ripped off, but it can also lead to getting some pretty great things for cheap or even free.

Skip on Luxuries You Really Don’t Need

Each person has their own luxuries they really like, but don’t need. For some, it’s picking up a cup of coffee each morning from a local coffeehouse, for others it could be buying designer clothes.

Identify what kind of luxuries that are costing you big each month and find ways to cut costs. Make coffee at home, buy off brand, wait for sales, or simply skip it entirely. Even cutting out something you pay two bucks for every day means saving 60 dollars every month.

Use the 30 Day Rule for Unnecessary Purchases

Thinking about buying something you don’t need to survive or do day to day tasks? Rather than impulsively buying it, write it down on a piece of paper and wait 30 days. This way, you have time to cool down and think rationally about the purchase.

If, after 30 days, you still want it and you have the money for it, then you can seriously consider it. If you feel indifferent about it, then don’t buy it. But that waiting period is useful to see if you actually want or could use it, rather than buying something you’ll regret later.

Beware of Sales on Things You Don’t Need

Sales can be one of the greatest things for people trying to save money and also a trap that could lead to people spending more money than they need to. In many instances, sales play with a natural fear shoppers have that if they don’t buy something when it’s discounted, they are missing out or risk losing money in the long run.

For example, you are grocery shopping and need to pick up one onion. The store advertises a “Buyt two, get one free.” You only need one onion, but think that deal is too good to pass up and maybe you’ll use the extra onions later. Now, you purchased two onions to get that free one, spending more money than you needed to, all for the deal.

Utilizing Your Savings Account to its Fullest

How you make use of your savings account can make a huge impact on how you save money. A savings account can be just a place you store your money when it’s not in your checking account, but it can also be so much more!

If you have a specific thing you want to save for, like a fun vacation or a new car, you could open up a separate Special Savings Account to help save for it. Then, set up monthly transfers to it, or even direct deposit a portion of your paycheck to it each month.

That’s just one example of a savings account option Pioneer offers. Other accounts can help you earn extra money on a higher account balance, or help you save money every time you buy something with your debit card by rounding up your purchase to the nearest dollar and putting the change into a savings account for you. To see what savings accounts are right for you, visit our Savings Accounts page!

Find the Right Savings Account for You!