Skip Navigation
New Jersey Agricultural
Experiment Station
Menu
Home Savings Promotion Resource Kit

Facebook Messages: Savings Strategies

America Saves logo
  1. America Saves Website: http://bit.ly/ASaves

Messages

  1. Here's a tried and true way to save money: save your pocket change. Throw it into a clear jar (so you can see your savings) and deposit the coins into a savings account at regular intervals or when the jar is full. Label the jar with a savings goal (e.g., vacation trip fund) for added motivation. Also consider ramping your savings up to $1, $2, $3, $4, or $5 a day, plus loose change, for added savings. More savings info: http://bit.ly/ASaves.
  2. Down to your last few car payments? Keep making monthly "payments" for paid-off loans- to yourself- to painlessly save money for future financial goals. You're already used to living without the amount of money needed for the paid off loan (e.g., a $280 monthly car loan payment). Simply redirect the money toward an emergency savings or retirement account to save money without feeling deprived. More savings info: http://bit.ly/ASaves.
  3. Here's a strategy to increase your savings: save half of your next pay increase (e.g., raise, bonus, overtime, freelance income, or additional income from changing jobs). Spend half of this amount and put half into a savings account for emergencies and/or a retirement nest egg. Your net pay will still go up and the additional savings will be painless. More savings info: http://bit.ly/ASaves.
  4. The best way to save money is to do it automatically by saving a portion of your income before you receive the remainder (net pay) in your paycheck. This is called "Pay Yourself First." Some examples are setting aside money for emergencies in a work-related credit union account and saving for retirement in a 401(k), 403(b), or similar employer retirement savings plan. When you get a raise, increase the amount you save. More savings info: http://bit.ly/ASaves.
  5. Have you heard about the 52-Week Money Challenge? It's a great way to save. You start out Week #1 by saving $1 and gradually add $1 more in weekly savings each week (e.g., $2 in Week #2, $3 in Week #3, etc.). By Week #52, you make a final deposit of $52 and have saved $1,378. For more information and a worksheet to track your savings, see https://www.affinityplus.org/Portals/0/Documents/Blog/52Week.pdf.
  6. Save part of your "extra" paychecks. Workers paid weekly will have four months with five paychecks, instead of four, and those paid bi-weekly will have two months with three paychecks, instead of two. Determine these "special" months by marking your paydays on a calendar and plan to save at least some of this additional monthly income. More savings info: http://bit.ly/ASaves,
  7. Behavior change experts say it takes about 25 days of repeating an action to develop a habit. This goes for all types of behavior including saving money. Try the following strategy as motivation to save. On Day #1, save $1 and increase the savings amount by $1 each day for 25 days. By Day #25, when you make the final $25 savings deposit, you'll have $325 saved, enough for a modest short-term goal. More savings info: http://bit.ly/ASaves.
  8. If your expenses end or decrease (e.g., child care, tuition, loan payments), raise the percentage of your pay that you save. You won't feel any loss of spendable income because you're simply reallocating what you used to spend anyway. Start small. Think big. You can save if you put your mind to it. More info: http://bit.ly/ASaves.
  9. Lack discipline to save? Have someone do it for you through direct deposit of money into a savings account. Your employer can direct deposit your paycheck and you can automate cash transfers from a checking account to a savings account. Start small. Think big. You can save if you put your mind to it. More info: http://bit.ly/ASaves.
  10. Save the amount of money you don't pay at the supermarket by using "shopper cards" and coupons. You can clip coupons from newspapers and/or find them online. Your receipt will show how much you saved. If you save $10 a week, that's over $500 a year. Start small. Think big. You can save if you put your mind to it. More info: http://bit.ly/ASaves.
  11. A majority of taxpayers get income tax refunds. Do you? Save part of your refund or use it to pay down high-interest debt. You can save your refund automatically by using IRS Form 8888 or you can save it yourself after the money arrives. Either way, bank part of this windfall. Start small. Think big. More info: http://bit.ly/ASaves.