What is your daily cookie jar? Well it's a way for you to save up money - in theory - in a metaphorical cookie jar for safekeeping. These are funds that you can access when you need them to get ahead... cash on a rainy day if you will. But how can you go about doing this and still stay ahead of the game without compromising your daily lifestyle? We'll provide you with a few helpful tricks that can enable you to boost your personal savings more quickly.
Make a Daily Compromise
What things could you compromise, or do without, in your day to day life that could enable you to save more money now and into the future. Start simple. Things like making coffee at home or bringing a water bottle to work instead of buying water can add up to a lot of money each month.
The Swear Jar Works
Make a commitment to pay for every time you use a profane word. It sounds silly, but the cash adds up fast. Heck, your foul mouth could end up saving you enough money to get you that special birthday gift at the end of the year. You never really know.
Swap Grocery Brands Out for a Month
Sure, you love that flashy name brand at the grocery store, but does it really taste any different than the off brand does? Here's a fun task: change out all the name brands you normally buy for off brands. Check out how much you actually saved. Now add that up over the course of 52 weeks in a year. That's a lot of extra money that you could have in the savings account.
Write Yourself A Bill
One of the best ways to increase your personal savings quickly is by writing yourself a bill. Financial experts advise that if you view your savings account like a bill, and issue a check to that account once per month, you'll be on the fast track to increasing your savings. Determine what you can afford to spend per month on said bill. If you miss a payment, be sure to add late fees. It's all for good cause in the end of course: creating your own retirement nest egg.