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Although we hope you never have to use your savings fund for bail bond payments, it is still critical to have a savings fund to begin with. The purpose of this fund is certainly for future, desired large purchases and investments like homes, cars, travel, and college funds, but it can also be used in emergencies for hospital and bail bond payments. Nonetheless, here are some small tips that can help grow your savings account.
- Dedicate a little more of your paycheck for savings, deducting this new percentage from your personal, leisure spending.
- Eat out less, eat in more. Cook! A pound of pasta and a jar of pasta sauce can be $5-6 and feed 4 people while spaghetti at a restaurant can cost $12-15 for 1 person.
- Create grocery lists before you go to the grocery store. Shopping without a list tends to leave shoppers with more food than they intended.
- Cancel subscription services like Hulu, Netflix, and HBO. Or, if you pay for cable, cancel that and get the subscription services instead.
- Cancel your gym membership and choose to workout outside.
- Instead of treating yourself to weekly shopping sprees, treat yourself to a monthly shopping spree, and do not increase your spending limit.
There are so many ways you can save a little more money. It just takes a little bit of thought, compromise, and sacrifice on your part. You will get used to it, your account will grow, and hopefully, this money will go towards a worthwhile investment in the future. If you do get thrown for a loop and end up having to pay for a loved one’s bail bond, then at least you have this money to rely on instead of scraping last minute to make ends meet.