Individuals and families should always have money to fall back on, even when the economy is rough. Finding ways to increase your savings account might be difficult, but with some helpful hints and smart thinking, anyone can build up that nest egg for their retirement or life's little emergencies.

Here are a few tips to help become wiser and more conscience with your everyday spending habits and with a few subtle changes, building that savings will happen and give you some peace of mind.


  1. Remove  easy access to your savings account. Don't carry debit cards or checks around, having these can have a big impact on money spent each day. Carrying just enough cash around to pay for things you really need is a great tool for building your savings. Debit cards make it easy for those so called 'Emergency' buys, small little luxury items that drain your pay and limit how much you can put into the bank. Not buying that extra cup of coffee or the latest DVD can put over $1,000 each year back into your pocket and over the course of a few years, that really adds up.  

  1. Another good idea is limiting big purchases to necessity items. If your making a large purchase, say anything over $75, wait 24 hours and really put some thought into the purchase. This will eliminate impulse buys, especially those that aren't really needed at the time. If a big purchase is needed, do some research online or look for sales ads, it might not seem like much, but even saving 10% on a large purchase is a good move. 

  1. Taxes, you know they must be paid and having the right amount deducted from your pay is another great tool to saving money. You might want that extra money every week, but paying it back at the end of the year can really hurt your savings. Check with your HR department of visit a tax professional and find out what deductions from your pay is needed so you don't pay back money each year. Having a large chunk of money taken out of your savings not only decreases your account, but it also hurts the interest your making.

  2. Direct deposit is another useful resource. Have a small amount of each paycheck put directly into a savings account that is hard to get at. There are plenty of online banking choices to make this easier and several pay a high interest rate if the money is left untouched over a period of time.  

  1. Don't spend that loose change. Buy a 'piggy bank' or find a large container and each day put those coins away. While this doesn't sound like much, over time this can add up to a tidy amount of money. You can use this 'extra' cash for something special or stick it into the bank, either way it will help you save money over time.


Saving money is difficult, especially for families on a budget, but using these simple tips will help build that savings account and give you that money you could need later on down the road, because life happens and you never know when you will need it.