We’re all looking for ways to cut costs. Everyone has their own style of Saving Money, whether it’s skipping out on a $4 mocha cappuccino once a week or putting off an exotic family vacation. 

The best methods to save money in your day-to-day life may not be immediately obvious, but you can use these advice as a jumping off point for brainstorming.

• Pay Off All Of Your Outstanding Debt.

Start with the debt if you’re trying to save money through budgeting but have a lot of it already. Still not sure? Consider how much you spend on debt payments per month. When you no longer have to make interest payments on your loan, you can promptly deposit that sum into savings. One way to make debt more manageable is to open a personal line of credit.

• Determine Your Savings Objectives 

Having a clear goal in mind is a great motivator for sticking to a budget. Set saving goals and a deadline to help keep you on track and motivated. Do you hope to save enough money for a 20% down payment in three years? Now that you have a goal in mind, you can determine how much money you’ll need to set aside each month in order to reach it. Get there with the help of Regions’ savings tools! 

• Take Care of Yourself Financially 

Establish a regular payroll deduction to transfer money from your checking to savings account. Don’t shortchange your long-term financial health by not setting aside at least $50 every two weeks (or $500). 

• Do Not Continue Smoking 

It’s not easy, but if you smoke a pack and a half a day, you may save around $3000 a year if you kick the habit. Join the club: the CDC reports that the percentage of Americans who smoke cigarettes has dropped below 20% for the first time since the mid-1960s. 

• Have a “Staycation” 

The expression “staycation” may be on the rise, but the concept is sound: rather than spend thousands of dollars on international airfare, consider vacationing in your own backyard. Instead of driving, try looking at local flights that won’t break the bank. 

• Pay to Save 

Utility bills seldom go down over time, so it’s in your best interest to weatherize your home today. Make a call to your local utility and request an energy audit, or look for a licensed professional in your area who can conduct a comprehensive assessment of your home’s energy usage. This can include simple fixes like weatherstripping windows and doors, or more involved renovations like putting home new insulation, siding etc. Over time, you could save a significant amount on your electricity bills. 

• Reduce Energy Costs 

By reducing the temperature on your water heater by just 10 degrees Fahrenheit, you can save 3 percent on your annual energy bill. Savings of up to 30 percent can be realized by switching from a conventional storage tank water heater to an on-demand or tankless one. 

• Make Sure to Bring Your Own Lunch 

Finding savings opportunities in one’s regular routine is a no-brainer suggestion for cutting costs. If you save $1,250 per year by bringing your lunch from home instead of buying it for $7, you could put that money toward paying down debt, saving for college, or retiring early. 

• Put Money into an Account That Earns Interest

Keeping your savings account separate from your checking account is a good way to lessen the temptation to tap into your savings for unexpected expenses. Consider a Regions Certificate of Deposit (CD) or Regions Money Market Account (MMA) with a higher interest rate if your savings goals are more long-term in nature.

• Plan Budget for the Whole Year 

Is it typical for you to spend $20 a week on office vending machine snacks? In a year, you can save $1,000 by cutting off soda and other junk food purchases. You may be surprised to see how quickly that routine may rack up a sizeable cash. 

Get a bank account now by opening one online. Want some advice? We’re here to assist you with opening the perfect account.