Saving money is challenging when most (or all!) of your income seems to be going towards living expenses and debt repayments. There are several ways to reduce your expenses in order to give you some money to save each month – here are a few tips to get you started:

Set up Transfers

One of the easiest methods of saving money is to set yourself up with a savings account linked to your checking account. Whenever you use money from your primary checking account and it’s an odd number, round up to the next whole number and put the difference into savings.

For example, if you swipe your debit card connected to the checking account and spend $4.82, subtract an even $5 from your balance in your check register, and move the 18 cents into your savings account. Over time, these little deposits will add up, but chances are you won’t even miss them when you do it.

Communications

Cable television, cell phones, and internet are often expenses that can be reduced or eliminated all together. Many television shows can now be watched for free, or for a few dollars a month on various web sites – making it possible to eliminate your cable tv bill and save money each month. With a little research, you can even get your computer and television connected to view your shows on your tv through your computer.

Cell phone statements tend to have unexplained charges from time to time. Be sure to examine your statement each month and ask for verification on any fees and charges you don’t understand – you may lower your cell phone bill by a few dollars each time you do this.

If you don’t rely on your internet for work purposes, you may not require the fastest connection or most expensive internet plan. Consider downgrading to a less expensive plan and putting the difference in your savings account each month.

Organize and Get Rid of Clutter

If your home is getting over run with clutter, it might be time to get rid of it, organize, and make a few dollars on the sale of the items you no longer need. Books, CDs, electronics and clothes are all items that sell well on eBay, at yardsales, or on various online sites that buy your old stuff in order to resell it to their site visitors.

Your trash is someone else’s treasure, so before you throw it out, see if you can make a few dollars to boost your savings account balance.