How Did You Manage During the July Money Challenge?
Another month, another challenge in the books. And the task of July was quite simple : to save a small change. If you joined, let us know how much you saved.
In July, we asked you to round off your purchases and save any unnecessary changes. Yes, it’s a simple task, but a fun and easy way to save extra money on your budget. We have suggested several ways to solve this problem if you do not use cash:
- Use a tool like Tip Yourself or Qapital to automatically save extra 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.
We’ve even put together a few creative savings ideas when you’re (probably) bored with the task. Some of your favorites:
- Save when you spend money : Every time you spend money on an item, keep the same amount you spent.
- Save by saving : For example, find the amount “you saved” at the bottom of your grocery receipt and actually save that money.
- Round up your purchases even higher : Instead of rounding up to the next dollar, go to the next level and round each purchase to the nearest $ 10 increment, as one reader suggested. “So if a particular purchase was worth $ 31.23, you round up to $ 40.”
Now that July is officially over, it’s time to tell us how you are doing. If you’ve joined a challenge, turn off the sound below and tell us how much you saved. Then stay tuned tomorrow when we announce the August challenge.