Supercharging your savings

6 quick tips to turbocharge your savings balance

Saving money doesn’t have to be a snooze-fest. In fact, with a little creativity and a positive mindset, you can really rev it up. So jump in and buckle up! Here’s 6 tips to soup-up your savings so you can get to your goals sooner.

1. Set exciting savings goals

Think of all the things you dream of: ritzy vacay, new wheels or a deposit for your dream home. Now, turn them into reality. Set clear savings targets and make them as exciting as possible. Give them fun names like Operation Beach Bliss, Car Crusade or I’m Home!

2. Make payday your savings day

Making saving a priority means making your money work for you, not the other way around. One way is to treat your savings like a bill you need to pay every payday. Set up an automatic transfer to your savings as soon as you get paid and you won’t even have to think about it.

3. Track your spending habits

Ever wonder where your money disappears to? Time to take stock of your spending and identify where you can cut back. Create a budget that aligns with your financial goals and helps you strike a balance between enjoying life now and saving for those future goals.

4. Put your passions to work

Who said making extra money has to be boring? Channel your inner entrepreneur and put your passions to work in a side-hustle. Love baking? Start a small home-based bakery. Tech whiz? Offer your services as a freelance web designer.

5. Cancel unused subscriptions

Those monthly subscriptions can easily sneak up on you. One easy way to uncover them is to go through your bank statements. Cancel any subscriptions you no longer need or use and you might be surprised how much money you could save.

6. Get strategic with your plans

Planning ahead may sound boring but it’s actually a game of strategy. Creating a plan that allocates regular amounts to your savings each month is like having a treasure map leading you to goals. And as you reach each savings milestone, reward yourself with a small treat.