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5 Tips To Save Money and Grow Your Savings Account

Good saving habits are vital to your finances because it helps you prepare for the unexpected. You never know when your vehicle may break down or you may have a big hospital bill.

By setting aside part of your income, you contribute to your long-term goals, such as retirement or home ownership. Having a savings account gives you great peace of mind and financial security.

Splash Tears cares about all aspects of your well-being, including financial literacy. So we’ve gathered 5 ways to help you pinch a few pennies. In today’s blog, you will learn 5 proven methods for growing your savings account, establishing a monthly budget, and the importance of savings.

Are you ready? Don’t wait any longer, and let’s get you on the path toward good financial health. Freedom starts now.

Why is saving so important

Saving is important for many reasons. We’ve listed a few below: 

  • Financial security: Having a savings account can provide a cushion in case of unexpected expenses or losing your job.

  • Long-term goals: Think of retirement or buying a home. Nobody wants to work until they’re 80. So start saving now and retire early.

  • Emergency fund: Accidents happen. It is a great idea to have some money set aside for the unexpected.


These are a few of the many reasons why Splash Tears wants you to begin saving now. Let’s dive deep into this topic and read about 5 things you can do to save money and live without financial fear. Let’s go!

#1 – Offer upfront rent

Do you know who loves money? You guessed that right, landlords. If you have access to a good chunk of cash, you could save as much as $200 per month on rent or more. This will depend on the state you live in and how much your monthly rent is. 

But if you can, save up at least 6 months of rent and offer your landlord to pay upfront as long as you love and enjoy the apartment or home. For example, say your rent is $1,200 a month. Instead of paying $7,200 over 6 months, you could offer your landlord $6,000 upfront.

This is a trick that works 90% of the time. We’ve never heard of anyone declining a lump sum payment of $6,000. Your landlord will be happy to receive a big payment upfront, and you will not have to worry about rent for the next 6 months. The best part is that you save a whopping $1,200.

#2 – Order groceries online

This may sound counterproductive, considering delivery fees and tips. But trust us, you will save money in the long run. If you work from home, you don’t have to clock out to go grocery shopping. You will also save money on gas, and you won’t buy unnecessary items as you roam the supermarket.

You can also look for coupons and discounts. With Walmart, you get 30 days of free deliveries before committing to Walmart Plus. Look for free delivery coupons and free samples. But remember to tip your delivery person. They do a lot, and they deserve it.

Make your grocery list, place your order and pay with the right card. What do we mean by that? We mean, use a card that gives you money back. Banks often offer credit cards that give you a percentage of your transaction back to use as you want. Chase Freedom Flex and Discover it cash Back are great credit cards to earn money back. 

#3 – Buy only necessities

The average person spends way too much money on non-essentials. According to TD Ameritrade, Americans spend as much ​​ $838.00 on non-essentials. So rethink your spending habits. Do you really need a cappuccino every morning?

Use what you have to your favor. Cook at home, reimagine your outfits, and make your own lattes. Don’t let society pressure you into thinking you need a new outfit every month or you have to eat out to show off a lifestyle that is only hurting your finances. 

Be mindful of your spending habits. Save as much as possible, and soon you’ll see your bank account grow. Head to Pinterest and YouTube when you feel like buying new things. You can often DIY many items and repurpose some you may already have. The feeling of revamping furniture or fixing your plumbing will be empowering.

#4 – Create and stick to a budget

A monthly budget is the best way to stay on track with your finances. You can do this on google sheets or using an App such as Rocketmoney. Having a budget will save you many headaches no matter the way.

A budget helps you control your money, stay on top of your expenses, and makes you more aware of your spending habits. You can easily allocate your monthly income by bills, savings, and other expenses. 

With a budget, you can see exactly where your money goes each month. Use this information to make financial decisions and adjust as needed. So, don’t wait any longer. Tackle your financial goals in 2023 with a monthly budget.

#5 – Automate your savings

Most people get their salary, use it up and then save “whatever they can.” Ditch this mentally if you want financial freedom this year. Your bank app likely allows you to automate your savings. 

What do we mean by that? We mean save a percentage of your income or a set amount per paycheck as soon as it hits your bank account. One of the great benefits of saving money this way is the “out of sight, out of mind” effect. Money that you don’t see is money that you don’t spend. 

For example, if you make $3,000 per month, you can save $100. Although it may sound like a small amount, at the end of the year, you will have saved $1,200. Increase this amount by $50 each year, invest a portion of it, and soon your savings account will look great. Get ahead of the game and start saving with automations. Consult your financial advisor or bank if you need help with this method. 

That is all for today. Splash Tears hopes this blog helps you boost your financial health and savings. If you have questions, send us a message on Facebook or Instagram. Make sure to check our blogs once a week and subscribe to our newsletter to receive all of our tips and tricks. Keep dry eye symptoms away with the best eye drops, Splash Tears. Our eye drops are formulated with hypromellose to quickly adhere to your film tear and lubricate your eyes. Don’t let dry eye syndrome stop you. Follow your dreams with the help of Splash Tears. Get yours today on Amazon.

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