Simple Saving Strategies

Interactive Video

[Picture of two women cooking in the kitchen.]

Narrator: These are Extreme Savers. Which one is not a true story of a person’s saving strategy?

Option 1: Javon

“I started eating wild plants (and verified they were safe first) so I wouldn’t have to buy greens at the store.”

Option 2: Louisa

“I limited my water and electricity usage as much as possible. I walked around my house holding a flashlight (so I didn’t have to turn the lights on).

Option 3: George

“I wash and reuse my paper towels by hanging them out to dry after I’ve used them.”

It was a trick question! They are all actually zany strategies people have tried to save money.

[A balance scale with the word ‘spending’ on one side and the word ‘saving' on the other, swings back and forth based on which is greater at the time.]

Whatever your strategy, remember that saving and spending money is a balancing act. If you spend less, you have the opportunity to save more. On the other hand, if you spend more, it means you have less to save.

[A woman sitting on her couch holding several hundred dollar bills. There is a calculator on the table and she is holding her forehead with a serious look on her face.]

So, how do you spend less? You don’t have to do anything radical or extreme like cutting your own hair, eating only noodles, or becoming an extreme couponer like you might see on some reality TV shows!

[Interactive flip cards]

Instead, try applying some simple saving strategies to your daily routine that won’t disrupt your life and can have an immediate positive effect. Select each tip to get some ideas. 

Card 1: 

Front - Pay Yourself First.

Back - 

• Put any amount of money you can in savings as soon as you earn it, even before 

you pay your other bills.

• If the money isn’t available to spend, you can learn to live without it.

Card 2:

Front - Save while spending.

Back - 

• Look for discount codes and coupons, whenever possible.
• Avoid ATM fees or point-of-sale fees.

Card 3:

Front - Free = no fee!

Back -

• Borrow books, music, or audio books from a local library or friends. 
• Cut down on soda and other drinks and substitute water.
• Look for free community entertainment like concerts in the park or festivals.

Card 4:

Front - Make money if you need more.

Back - 

• Sell items you no longer need, either in person with a garage sale or on an online service.

Card 5:

Front - Simplify. Less can give you more.

Back -

• Reduce cable or streaming services.
• Eat out less, learn how to cook new dishes at home, and don’t overbuy groceries so they don’t go bad before you can eat them.