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Wise Spend Tip: Save $20/wk

Wise Spend Tip: Save $20/wk

This week's Wise Spend Wednesday is a short one, but albeit, a very wise one and relatively easy to accomplish. We've all heard the phrase thrown around, "Twenty bucks, is twenty bucks." Yes, yes it is. And to think of all the random things you spend in a week, sometimes it's far more than $20.

"Where does all my money go?"

Take a step back and think for a moment of all the things you blow money on in a week's time. Now, think about how much you pay for certain things.

    • Morning coffee - $5.00
    • Breakfast sandwich - $8.00
    • Noon meal - $15.00 (maybe more like $20)
    • Soda & snack at the gas station while paying for your fuel - $7.00
    • Beer or cocktail with your buddies after work - at minimum $10.00 (because let's be honest... who actually has just ONE beer after work?)
Starting to see the trend? Most of the little, random things you spend your money on revolves around food & beverages.

Now consider bringing your coffee, stocking your desk with some granola bars, and bring your lunch. If you do these things at least ONE day out of the week, stashing away twenty dollars is a breeze.

Money Saving Solutions

Where to stash that weekly savings is the next hurdle. If you remember a previous article from CreditSoup, we highlighted 15 ways to save loose change. The same could be said for saving those crisp twenties.

So maybe you aren't too warm & fuzzy on stashing money in your home. Maybe you'd prefer it be in a bank and you can monitor it with an app. We happen to have the Top 5 Apps to help you save your cash. All of these apps are going to do a great job to help you save more each month. It really just comes down to which strategies work for you.

Wrapping It Up

I said this was going to be a short one. And it is. Long-story-short, if you have money to blow on small random things like snacks and coffee, then you have money to set twenty bucks aside each week. When you add it up, you've saved $1,040 in one year. That's a huge way to build that savings account up without even noticing it.

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