Eight Easy Ways to Start Saving Money This Year

The goal most Americans should be striving for is to put back 20% of their earnings into savings – but research shows that the average American is only saving 5.5% and many save none at all. How can you increase your savings and still maintain the lifestyle you want?

1. Meal planning is one of the best ways to save money. By creating a plan for your week, shopping according to a strict list, and only allowing yourself to eat out when planned, you can save hundreds of dollars each year. Instead of driving through for fast food three time a week for lunch, brown bag it and treat yourself to one nice meal at a real restaurant twice a month. You’ll enjoy it more, and still save money.
2. Cut the cable cord and go wireless instead. With even channels like HBO now available a-la carte, there’s no excuse for paying for packages with 50000 channels you never watch. Pick up a Netflix subscription and catch your shows online with an Amazon Fire Stick.
3. Ditch your single gym membership. Using a ClassPass or picking up classes through discount online programs like Groupon will keep you motivated and let you switch up your workout. You can try cycling, yoga, Pilates, barre, strength training, boot camp, dance and more without multiple memberships.
4. Host a potluck party instead of going out for drinks with friends. If everyone agrees to BYOB plus a dish, you can all eat, drink, and watch a movie and have just as much fun for a fraction of the price, Take turns hosting.
5. Travel cheap. Vacationing can be inexpensive when you find a place to stay on Airbnb, Travelmob or Housetrip. You can often find a place that has a kitchen so you can cook instead of eating out, and visit local sights and museums in the locale where you are staying for a vacation that is fun and relaxed.  
6. Make your own coffee. While visiting coffee shops and dropping $4 to $5 on coffee every day feels fun and special, it adds up tremendously. Invest in a high grade coffee maker and high end thermos, and learn to make your own gourmet coffees.
7. Stop and wait before you buy. Click and buy options online make it easy to overdo with instant gratification. Imposing a 48 hour stay on any new purchases over a certain $$ amount can let you reconsider if you really need the item.
8. Use VIP Savings when you do shop. 2BenfitU’s VIP Savings Benefit can let you save money every day on things you would be buying anyway, so don’t miss out on the chance to take advantage of this benefit!

Every time you save money, take the dollar and change amount and deposit it in a savings account, at the end of the year, you’ll be amazed at how much you saved!