- Checking & Savings
- Loans & Credit
- Online & Mobile
- More for You
April 3, 2018
While every day at 1st United Credit Union is financial literacy day, April is the official National Financial Literacy Month. In honor of this special occasion, we challenge you to our April Savings Blitz. And share your results on Facebook or Instagram!
Saving money takes hard work and purposeful effort. It might involve increasing income or cutting expenses. Or, it might involve finding ways to automate savings so you don’t forget. Either way, making savings fun and setting mini goals will go a long way in helping you accomplish your financial goals. For our April Savings Blitz, we challenge you to these weekly goals. Let’s get started.
Week 1: Plug a Spending Leak
A spending leak is exactly what it sounds like – money that is leaking out of your account like water dripping from a faucet. Examples of spending leaks:
- Buying expensive lattes or mochas rather than making coffee at home
- Buying bottled water instead of using a refillable water bottle
- Overpaying for cable, cell phone, WiFi service, or insurance – it might be time to call and renegotiate your rate
- Paying for a gym club membership, but you don’t go to the gym
Plugging a spending leak is an opportunity for you to save money. Choose just one spending leak that you can plug this week, determine how much you’ll be saving, and put that amount away into your savings account.
Week 2: Save Small Bills
Challenge yourself to save any cash under a certain dollar amount. Put it in a jar or envelope and at the end of the week, count it up and deposit it into your savings account. We recommend saving all $1 and $5 bills. You see it…you save it. It’s that easy.
Week 3: Cook Your Meals
For week three, we challenge you to prepare all meals at home. It’s hard work, but you can do it! Try creating a menu at the beginning of the week. This will not only make grocery shopping a piece of cake, it will make cooking easier because you won’t have to think about what to prepare each day. Try this challenge for one week and see how it goes. Then next week, you can either try again or slightly modify the plan for convenience. Over time, you’ll see big savings and might just find cooking to be easier than you thought.
Week 4: Stay In
Plan a family and friends game night, movie night, or pot luck instead of going out this week. You won’t miss out on the fun of socializing and you’ll be saving a bunch. Plan a rotation between friends’ houses one weekend a month – this takes the pressure off having to be the main host and creates your own savings support group.
These are just a few ways you can save money. We encourage you to get your friends and family involved in the Blitz so you can support each other. Check in every night to see how you did that day. These small, mini goals will show you how a little hard work can equate to big savings over the long run. Plus, you can share your success or even your challenges with us on Facebook and Instagram. Good luck and happy saving.