5 Subtle Saving Hacks That Don’t Feel Like Sacrifices

Sometimes saving a couple bucks here and there at the expense of ordering an extra side of delicious curly fries or opting in for a shittier, single ply toilet paper can get exhausting. Instead of depriving ourselves, I’m here to help you save money without significiantly impacting your daily life.

1. Move Your Money to a High Yield Savings Account (HYSA)

• One of the easiest ways to start saving more without any effort is to move your funds into a high yield savings account. The key word here is high yield. And yes, it’s different from the savings account most traditional banks offer you. Here's the difference:

Using the above as an example, most banks give you a savings account with really lousy returns. If you park your money into a HYSA, you could be earning $46 extra dollars!! Now how’s that for curly fries?

• 🤔 So how do I get a high yield savings account (HYSA)?

  1. Research the best HYSA with FDIC insurance. I currently use Wealthfront since rates are good and personally, it's been an amazing product (bonus tip: you can use my referral link HERE to score an extra +0.50% boost for your first 3 months). There are other goods ones like Sofi, Ally, Fidelity but do your research!

  2. Make sure to compare interest rates, withdrawal rules, and minimum balance requirements.

  3. Open an account online and transfer your savings to start earning right away 💸

2. Negotiate Your Utility Bills ⛽️

You might be paying more than you need to for utilities like internet, cable, and electricity. Companies often have flexibility in their pricing but expect you to ask before offering you a better deal.

• How do I negotiate my utility bills? Don’t worry I’ll guide you 👇:
  

  • Call your utility provider and say this: "Hi, I’ve been a loyal customer for [X years] and I noticed I’m still paying the standard rate. I’d love to continue with you, but I’ve seen some competitive rates elsewhere. Can we discuss the options for lowering my bill?"

  • Be polite but firm: If they offer a discount, great! If not, ask if there are any current promotions or plans that could reduce your cost.

  • Be prepared to switch: Sometimes, letting them know you're considering other options can lead to better offers. I’ve done this with my internet bill and saved $10 per month.

3. Automate Savings ⚙️

Set up an automatic transfer from your checking account to your savings account right after each payday. This is commonly known as “pay yourself first”. This is a money principle anyone looking to build wealth should know and understand. If you want to learn more about it, I high recommend reading “The Richest Man in Babylon” 📚

• How to set up automatic payments to your high yield savings account:

  • Decide on a percentage or numeric amount of your income you want to save each month.

  • Set up an automatic transfer via your bank’s mobile app or website directly to your savings account. Since I use Wealthfront, I set up recurring transfers directly within the Wealthfront app because I connected my personal checking account. (Photos below for reference 👇)

  • Make sure to adjust the amount as your finances grow or change 🌱

4. Use Cashback Apps and Credit Cards 💳

Incorporate cashback apps and reward credit cards into your spending habits. Choose cards and apps that align with where you already shop and spend, and watch the rewards accumulate essentially for free.

• Effective Strategy:

  • If you're going to spend money on shopping, you might as well get paid doing it. Sign up for cashback apps like Rakuten or Ibotta and you'll most often times get % cashback. Don't sleep on it!

  • Use a credit card that offers cash back on categories you frequently spend in, such as groceries or gas. Chase Freedom or Freedom Flex have a 5% rotating bonus category with groceries and gas included and that could be huge savings going back into your pocket.

  • ALWAYS pay off your credit card balance each month to avoid interest charges.

5. And Lastly, Have a Beginning of the Year Conversation with your Boss about Increasing Your Salary (in a Smart Way) 🧠

I saved this one for last because it's probably the most challenging. But it's also one of the most important because:

1. You are practicing to fight for yourself. If you won't, who will?

2. Saving is great, but real finance growth often comes from increasing your earnings. There is no limit to how much you can earn, but there is a limit to how much you save. You still have to eat and have a roof over your head.

3. Your boss won’t just give you a raise because you asked for it. You need to back up your request with clear accomplishments over a specific timeframe that you’ve discussed beforehand. When you do this, you’ll not only gain momentum in your career but also build the confidence to advocate for yourself in any setting, even outside your company. Don’t settle for anything below your worth. Make sure you’re earning what you truly deserve. You got this! 👊🤎

x PP

Look after the pennies, and the dollars will take care of themselves🙂