family smiles

Now is a great time to start making your savings grow with these 10 simple tips! No matter what stage you’re in on the financial saving journey, whether you’re saving money for retirement or for a little extra everyday spending money, we have a few tips for you! This is a list of 10 AAFCU favorite money saving tips that we came up with.

1:1 Spending

1:1 spending means for every dollar you spend on things that are “fun” or non-essential, put that same dollar amount into a savings account. For example, if you spend $60 on a new jacket then you would put $60 into a savings account. This can help you track how much you’re spending and also help save in the process.

Paycheck Rounding

Rounding your paycheck to the nearest $20 and then put the left-over amount into your savings account is a great tip that will get you started on your money saving journey.

Checking Your Balance

Checking your account balances and transactions often helps you become more aware of your spending and helps you save your money and create better spending habits.

Couponing & Deal Apps

If you are looking to save money when shopping, coupon and apps that offer discounts are a great way to efficiently save money on purchases and maybe even earn cash back.

College Fund

Setting up an automatic payment that goes directly into your child’s account each month to help grow a savings for them to utilize once they go off to school. This will also help you be more prepared for the finances of college when the time comes.

Eating at Home

Cooking meals at home rather than eating out is a lot more budget friendly. Studies have shown eating at home is 1/3 of the price you would pay to go to a restaurant. If you choose to eat at home rather than eating out, then doing meal preps for the week will also save quite a bit of time and money. You can also try scheduling no spending months, which means only paying bills and no extra spending, which includes going out to eat, or random shopping trips!

Automatic Paycheck Deductions

Set up direct deposit into a savings account from your paycheck each pay period. Start with a small amount and continue to increase the amount as time goes on. Also, collecting change by emptying your pockets into a change bin each night seems small but can grow large quickly.  

Generic vs. Name Brand

Buying generic brands, depending on the product, is a simple choice that will help save money when grocery shopping! In a recent study, on average, generic brands cost 30% less than name brand and are not usually lower in quality, however it depends on the product.


Give yourself a designated “allowance” every month. Take it out in cash, and once it’s gone, you’re done spending for the month. If a monthly allowance does not work for you, try a bi-weekly or weekly allowance instead!

LED Lightbulbs

LED Lightbulbs are both energy and cost efficient. They last longer and they’re eco-friendly! LED lightbulbs will save you money in the long run especially if you remember turn keep all the lights off in your house when not using them.