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Ask the average person what personal finance goals they have for 2019 and chances are high, they want to save more money. According to CNBC, while many people say they want to contribute more to their savings, 20% are currently not saving money at all. An additional 57% are saving less than 15% of their income, which is the minimum recommended by experts.

If you're feeling overwhelmed by a small or even non-existent nest egg, here are seven ways you can turn things around in 2019.

1)Unsubscribe From Retailer Email Newsletters

Just under 45% of Americans regularly shop online. Online shopping is easier and can often be less expensive, especially if you sign up for a retailer’s newsletter to get a discount code or coupon.

Signing up for emails in exchange for a 10% off code is a smart move if you're already needing to purchase the item. But things can go wrong quickly when you get emails daily with very enticing deals. It becomes all too easy to buy things you don't really need, simply because the deal seemed too good to pass up.

Stop this cycle by unsubscribing from all but the most important retailer emails to what you typically purchase on a regular basis.

2)Break Bad Spending Habits by Carrying Cash


Debit cards are handy, but they also make it very easy to become disconnected from how much you spend. The typical person is more reluctant to spend cash than they are swiping a card.

Start off the new year by banishing your debit card for one month. At the beginning of the week, take out only as much cash as you need for the next seven days. At the end of the month, you might be surprised at just how much you saved.

3)Take Advantage of Discount and Cash-Back Apps

When you do need to spend money, it makes sense to save as much as possible by using coupons or cash-back offers. If you have a smartphone or computer, you have access to a number of apps or programs that can help.

Honey is an online program that also has a handy Google Chrome extension. This program will automatically find you discount codes to try, making saving money as easy as pressing a button.

Paribus is another site that will help you get money back if a store drops their prices. Prices will lower on certain products on a daily basis, particularly on Amazon. Paribus will contact the company and request a refund in the event the price drops after your purchase.

4)Negotiate Lower Prices on Your Monthly Bills

Being able to lower your monthly bills will help you save more money and live more comfortably. While negotiating can be uncomfortable, it’s can be an easy and effective way to help your personal finances.

Begin by calling up your cable company, your phone service or even your car insurance provider. All you need to do is ask them how they could lower your monthly bill. Some will say they aren't able to, in which case you can begin negotiating. However, more often than not, if you've been a loyal customer and regularly pay your bills on time, the company will look into seeing if they can lower your bill.

5)Spend 30 Minutes Every Week Reviewing Your Finances

To gain better insight into your spending habits and find where you can save, spend just 30 minutes at the end of every week to plan for the next. Look over what you spent money on and analyze which items you could have gone without. Look into the coming week and create a budget for how much you'll need to spend on necessities, such as groceries and upcoming bills.

When reviewing your previous week, you might see that you spent $10 buying an iced coffee and pastry that you didn't quite need. Make a change by putting $10 into your savings account the upcoming week instead.

6)Focus on Paying Off Credit Card Debt First


The average credit card debt for Americans is just over $4,000. The average credit card interest rate is 16.71%. This means that you could be paying as much as $400 annually in interest alone. If you're new to credit and have a card with a high APR, the interest you're paying could end up crippling.

Focusing on paying off credit cards first, starting with the card with the highest interest rate, will get debt off your back and help you to save more. Credit cards are necessary for building credit and don't need to be avoided, but aim to pay off your card every month rather than just the minimum payment required.

7)Upgrade Your Savings to Earn More Interest

A basic savings account is better than nothing, but if you have a larger amount of money saved you might want to upgrade to a Money Market account. A money market savings account has a higher interest rate than a standard account. This type of account is ideal for those that are planning on saving money for a longer period of time but still want access to their account for withdrawals.

You'll earn higher interest with a money market account than a regular savings account, and you won't have the high restrictions associated with other savings accounts like CDs.

When opening a money market account, make sure to choose a bank with low account fees and low initial deposits. Vantage Bank offers a money market account with an initial deposit of just $100 and a monthly fee of $15, which is waived if you keep a minimum of $2,500 in the account. Plus, the more money in the account, the more interest you can accrue with tiered interest rates. It’s like getting paid to save.

Little Changes, Big Savings in 2019


The real trick to success in saving money is to regularly practice responsible spending habits. Taking small steps to cut back on expenses and pay off debt will prove more effective than one large effort every few months. By following these seven tips, you can get your finances under control and contribute to your savings in 2019.

Talk with a Vantage Bank Personal Banker today on how to open a savings account.