Sometimes people think of saving money as a monumental task involving lots of personal sacrifice. This does not have to be the case, however, for those willing to make minor changes, prevent the need for more payday loans, and begin saving money right away. The following are a few very simple tips that everyone can use to grow their savings.

Stop Using Credit Cards

By their very nature, credit cards increase debt. They also are great ways of wasting money on things like interest rates, finance charges and other fees. When these additional charges are avoided, more money is made available for actual saving. Those who make it a hard-fast rule to only purchase items that they can afford to pay for in cash find themselves closer to a debt-free reality and a larger savings account.

Only Spend Paper Money

Each time coins are received as change for purchases, do not spend this money later in the day. Instead, when other purchases are made throughout the day, pay for each one with paper currency and save all change received to be deposited in a piggy bank or a coin jar at the end of the day. People have reported amazing success in saving money in this way and some have even been able to bypass the need for car loans by purchasing vehicles with spare change that they have saved for several years.

Save a Few Dollars Every Day

By developing a habit of putting a few dollars in a jar each and every day, a person can save a lot of money. For example, if a person can develop the discipline of saving just five dollars every day, in a year’s time they can save $1,825. Some people may only choose to save a dollar each day and others may choose to save more, but this is a relatively painless way of saving that everyone can afford to do.

Stop Spending Money on Vices

Most have mentally calculated the money that they could save if they stopped buying a daily latte, a daily pack of cigarettes or lottery tickets every payday. However, those who are really motivated to save money not only put a halt to these vices, but they go an extra mile in actually placing the money that they would have spent on them in a jar or piggy bank and deposit that money into a separate savings account at regular intervals.

Clip Coupons

Coupons are offered online, they are delivered free to most homes, and major manufacturers make them available in the Sunday paper each week. Entire websites are devoted to finding coupons for items used every day and learning how to maximize their value. Some retailers will double the value of a coupon or even accept competitor coupons on certain items. Most people who try using coupons give up after forgetting to use them before they expire. However, this can be avoided by planning specific shopping days, writing out a list of items to be purchased and making a note next to those that a coupon can be applied to.

Anyone Can Save Money

Saving money doesn’t have to be a major inconvenience. By simply disciplining one’s self to set small amounts aside on a regular basis, most are surprised at how quickly these amounts turn into substantial savings. With these tips, anyone can save money and those who are serious about their financial future actually will.

Financial experts today recommend having at least six months of living expenses squirreled away in a savings account to help you cope with an unexpected change in your financial situation. However, if you’re already pinching pennies just to make ends meet, coming up with that much money may seem impossible. It will take time and financial discipline, but you can do it. Consider some of following tips to help get you started.

Coupons, coupons, coupons

For years, coupon-clipping moms were mocked in the media for their penny-pinching ways. Today, though, the media have come flocking back, asking for their money saving tips! You too can take a page from their books and start saving money with the coupons that you find online or in local publications. Just remember the golden rule of coupon clipping – only clip coupons for items that you’ll actually use. Saving $10 on a case of baby food isn’t a great deal if you don’t have any children!

Switch to home brew

You’ve probably heard this one before — trading the Starbucks habit for a home-brewed cup of Joe — but for some reason, it’s a budgetary step that few people are willing to take. Consider it this way, though. A cup of coffee from Starbucks can cost upwards of $4– over $1,000 a year if you drink 5 cups a week. Coffee brewed at home or at the office costs just a fraction of this, which means more money in your pocket.

Take advantage of free events

Just because you’re on a budget doesn’t mean you have to cut all of the fun out of your life. Plenty of museums, colleges, and other organizations offer free events that are open to the public, including everything from art gallery openings to free cake-tastings to book readings. Check your local newspaper or community website to find out more about free events in your area.

Split an entrée

When you go out to eat, opt to share an entrée with your dining companion instead of ordering separate dishes. The portions served in most restaurants these days are ample enough to feed two people comfortably, saving you both money and calories.

Round down at the bank

Some banks offer a service that rounds deposits down to the nearest dollar and re-routes the remaining change into a separate checking account. For example, if you deposit a check for $85.12 into a qualified account, your bank would deposit $85 into your checking account and the remaining $.12 into your savings account. Even if your bank doesn’t offer this service, you can follow this practice yourself by dividing your checks into separate checking and saving amounts.

Right-size your service bills

When was the last time you looked at your monthly cell phone bill? Have you even looked at all since you set up the account? If you haven’t, it’s time to take a peek – you could be overpaying for a plan that includes more minutes than you need. Take a similar critical look at your cable and internet bills. If you’re paying for premium services that you don’t really need, cut them out and redirect the extra money to your savings account.

Don't invest in a safe; invest in making more money.

IBonds are U.S. Treasury bonds with interest rates that are adjusted for inflation. They are engineered to make sure you always make a real profit, so they never lose value. The interest rate on IBonds right now is 5.64 percent, much higher than a traditional savings account.

So where can you get your hands on some?

Buy IBonds online

Well, it just so happens you can get some at TreasuryDirect, the U.S. Treasury’s web site that lets you do all-online financial transactions. The same way you can get a no-fax payday loan or apply for credit cards without leaving your computer, you can purchase Treasury bonds that will start earning money for you right away.

How to set up an account

Before you set up your TreasuryDirect account, make sure you have these things handy:

• Social Security Number (Taxpayer Identification Number)
• Driver’s License Number or State ID and Expiration Date
• Bank Routing Number and Account Number
• E-mail Address
• A browser that supports 128-bit encryption

When you get to the TreasuryDirect site, click on “TreasuryDirect” under the “Open An Account” menu at the right.

For your eyes only

Only you can open an account for yourself. The site specifically says:

We do not currently permit a legal representative, legal guardian, or trustee to establish an account on behalf of an estate, decedent, trust or incompetent person.

However, there is a different section on purchasing Treasury bonds as gifts.

You don’t need to be rich

You can buy an IBond for as little as $50. While that one $50 bond won’t make you a lot of money, you will make two to three times as much in interest as you would if you put that money into a bank savings account. If you buy one for $50 every month, or even every quarter, that will really add up over time.

The drawback, of course, is that you won’t be able to get to that money for a year after the bond is purchased. And there is a penalty for cashing it out in fewer than five years. But, if you are serious about long-term savings, and you want to make some profit, IBonds are a good way to go.

Could this little piggy bring the economy crashing down? I don't think so.

While it’s true that more people are relying on cash advances now, there are also a higher number of people stashing money in their savings accounts.

I will be the first to admit that when I read the headline “Why Saving is Killing the Economy,” I rolled my eyes.

Sensational saving skeptics

Call me cynical, but I just have a hard time believing that hard-working Americans stowing $20 out of their paychecks is “killing the economy.” For one thing, some would argue it was already dead.

I completely understand that consumer spending is key to supporting a thriving economy. But given the fact that more and more people need cash advances, I’d say we need not look at low- and middle-income Americans as the culprits in this “saving crisis.”

Show me the money

All that’s happening is people aren’t spending money on things they don’t need. Yes, that does mean businesses that deal in frivolity run the risk of going under. Or maybe they just need to market their frivolousness to a different market.

Will Smith is "Hollywood's Most Valuable Actor." I say: Smith, get to shopping!

What about all of the actors, athletes and big business owners who have millions, if not billions, stowed away? I think if Paris Hilton went on a major shopping spree it’d make a much bigger difference than me emptying my $100 savings account.

Keep your money

If you’ve got a few dollars tucked away as a cushion, it’s not going to save someone’s job if you spend it. Buy what you need. That’s enough. The economy did very well in the ’50s when the savings rate was between 8 and 10 percent. Right now it’s at 3.6 percent.

Economists are saying that if everyone suddenly begins saving 10 percent of their income we’ll have a real problem. Call me crazy, but going from “People are saving 3 percent of their income,” to “Prepare for the worst! Everyone is about to start saving 10 percent!” is a bit extreme.

Wrapping up

To summarize my point, I understand that consumer spending will help the economy. But it frustrates me when I read headlines that say “saving is killing the economy.” It’s just so sensationalistic — kind of like when cash advances and payday loans are referred to as “predatory lending.”

A payday loan and a savings account – how can you use one to save with the other? To save money we should have willpower, otherwise we will never do it. In this article you will learn how to use your willpower to save money for the future, even if it costs you to do so. In the long run, it is not going to affect you much, and you will only be pleased that you did it.

Take the resolution

First thing to do is, to make a resolution that you will start a savings account with your next paycheck. Then, when the check comes, make sure you do it. For this you have to have some strict rules for yourself. First, decide how much you will save every month then stick to it like a clockwork. Never use up what you have saved, at least not until you are in extreme situations, which is one reason to have the savings account in the first place. Make this promise now and get set to read the rest.

Be strong

Usually what happens while dealing with our finances is that we may find a share of our income for every need but may never find a share to save. We have to get over this stigma, soon enough. So, make sure with your next paycheck, what you do is save first and then spend. Yes, as soon as you get home with your next paycheck, make sure you put the amount you promised yourself in your savings account. Now, what you may be wondering is how you will be able to get through with the month, without that money you have put aside. Mind you this is not a big problem. You will hardly notice it. You will feel desperate for that money, only if you are feeble with your promise.

You will not notice the difference

You might think this is well and good in writing but when you are short of money, this is not so practical. How to make it practical is what you will learn now. The simple thing to do when you are short of money is, not to get it from your a savings but instead use a payday loan. This way you are not likely to have any setbacks with money and you will also find the comfort of a healthy savings. When those hard times come and you have to use payday loans, you might have to pay an extra bit more, but once you have saved enough, you can capitalize on that. How? By investing your savings in some very high interest investments. Does this not sound sensible?

Be prepared

Commit to saving then, to be prepared, make sure you understand how to get your payday loan. You don’t want you to be in a fix when you have some financial crisis to face. First, understand you will get this loan, only for amounts ranging up to $1,500 and, in most cases, you have only until your next payday to repay it. You may get these loans without a credit check or fax. When you apply for this loan and if it is approved you will get the amount transferred to your bank, usually within 24 hours. You can apply for the loan either online or over the phone.

Okay, start saving!