Tips to save money
Saving thousands of dollars in a year can seem daunting, but it’s easier than you may think. There are easy ways to save money—for example, trimming small daily expenses—that can help you make significant contributions to your savings account. Below are some money-saving tips to help you start saving for your financial goals.
$2,631
That’s the amount you could save in one year with better spending habits!
Daily choices (Based on a five-day work week)
Buy coffee
$2.70
daily cost
versus 
Brew coffee at home
$0.17
Daily choices
Did you know?
The world's most expensive coffee costs $90 per cup.
You could save
$12.65
weekly
$657.80
yearly
Source: Square, AOL, Yahoo! News
Buy a newspaper
$1.00
daily cost
versus 
Get a digital subscription
$0.62
Daily choices
Did you know?
Of the people who read newspapers, 51% read them exclusively in print form.
You could save
$1.90
weekly
$98.80
yearly
Source: Nieman Foundation, Nielsen Scarborough
Buy lunch
$11.00
daily cost
versus 
Pack lunch
$6.30
Daily choices
Did you know?
In 2014, Americans spent more money eating out than eating at home for the first time.
You could save
$23.50
weekly
$1,222
yearly
Source: Visa, USDA
Buy snack from the vending machine
$1.29
daily cost
versus 
Pack a snack
$0.65
Daily choices
Did you know?
Chips are the most popular snack food in North America; globally, chocolate is the top choice.
You could save
$3.20
weekly
$166.40
yearly
Source: VendScreen, Numbeo, Nielsen
Run at the gym
$1.87
daily cost
versus 
Run park trails
$0.00
Daily choices
Did you know?
There are 54 million people in the United States who pay for a monthly gym membership; however, 67% of them never use it.
You could save
$9.35
weekly
$486.20
yearly
Source: StatisticBrain.com, International Health, Racquet & Sportsclub Association
Where can you put your savings?
Save for tomorrow
Contribute to a nest egg
Get prepared
Build an emergency fund
Have some fun
Take a vacation
If starting with these small ways to save money has you looking for more creative ways to save, check out our video about saving on your monthly bills. And if you need help figuring out where to put your savings, we put together a look at which savings accounts may work best for all of your different goals. Just remember, whatever you choose to do with the money you’ve saved, learning how to budget effectively and save money when you need to can set up good financial habits for the long haul.
Up Next
More from Bank of America
Contact Us
-
We're here to help. Reach out by visiting our
Contact page or schedule an appointment today. - Schedule an appointment
