August Money Problem: Save Your Change
This year we invited you to bargain on your bills , curb impulsive spending, and even save for retirement . Many of you have saved hundreds, and some of you have saved thousands. This month we’re back to basics with an old school challenge that anyone can easily join: Save Changes.
This is a simple task and easy to implement. You can, of course, pay in cash and literally keep the change to yourself when you buy. Most of us, however, pay with cards, so if you don’t want to do math, here are some tools to help you get started:
- Use tools like Digit , Tip Yourself, or Qapital to automatically save your excess change .
- Use your bank. For example, Bank of America has its own savings program, Keep the Change . Wells Fargo has Way2Save .
- Sign up for a tool like Acorns , which will automatically save and invest your extra money.
Obviously, you don’t need to use these tools to rise to the challenge. They make things easy, but the idea is to just save the excess change and then use it for your own financial purposes: pay off debt, set aside for an emergency, or set aside for any other purpose.
Are you in business? If so, let us know and tell us how you plan to collect and save!