Savings Idea Competition

During the month of June, Bank On Classes are challenging one another to come up with creative ways to either stretch limited dollars or get more savings in their spending plan.  Here are the ideas we have received:

Central Library Class:
  • Part-time job working every other weekend and use that money for savings only (emergency and vacation)
  • Save what you make (1 hour per week of salary saved)
  • Don't have friends; don't leave your house
  • Add $$ to your savings based on the number of weeks in the year.  Example: add $14 on the 14th week of the year; add $32 on the 32nd week, etc.
  • $25/week - $100 per month
  • Increase financial awareness
  • Get a debit card
  • When shopping ask if this is a need or a want before purchasing
  • Make savings be a regular bill you pay each month.  Example: if you need $5,000 in a year, save $500 each month.
  • Put all change from everyday into a piggy bank
Tidewater United Church of Christ Class
  • Use coupons on double coupon day
  • Buy deli meat on Monday to last all week for lunch vs. eating out.
  • Avoid cookies/snacks at grocery (impulse buying)
  • Make menu and stick to it/use coupons/eat leftovers
  • Start savings account in a DIFFERENT bank from your checking
  • Buy gas on days when discounts offered (5 cents off)/Fill up car once weekly
  • Get cheaper phone service - tracphone/magic jack
  • Make smoothies at home
  • Shop on black Friday
  • Budget plan for utilities
  • Save the Change program
  • Shop for groceries mid week
  • Save Change at the end of the day
Human Services Class
  • Bring a pennie bank and compare who raises the most each class
  • Save by paying myself first
  • Make menus before grocery shopping then only buy what is needed and use coupons
  • Switched dresses with another woman for an important event.
Twin Canal Class
  • Make my own laundry detergent 10 gallons for $2
  • Save money by eating at churches and making my own cleaners
  • Save money by shopping at the Dollar Store, Costco and Walmart
  • Pass up fast food & snacks and put what you would have spent into savings
  • Boil pieces of soaps and use for laundry or as liquid soap
Human Services Employee Class
  • Use coupons/stick to budget/don't spend loose change
  • Purchase large bags of snacks and separate into individual sandwich bags saves on cost and portion control
  • Partial envelope system
  • Use coupons/purchase things only on my way
  • Coupons/sales/groceries/clothing
  • Bring lunch from home
  • Coupons for groceries/eating out/services/etc.
  • Put large amounts of money in a CD
  • Save change in jar - have 2 mayo jars full
  • Refinance vehicle loan and apply savings to payoff debt
  • 90 Day spending fast
    • Create budget/bring lunch & breakfast
    • Stop unplanned shopping
    • Set a goal
    • Needs vs. wants
  • Coupon blogs for sale 
  • Use Dollar Tree for Sunday Paper (avail Monday or Tues)
Turning Point Class
  • Buy only essential items
  • Eat home cooked food
  • Don't use credit
  • Carry cash / no cards
  • Take lunch to work potential savings 20 - 50 per month
  • Save automatically to your savings account
  • Every raise put a portion into savings right out of your check
  • Do a Box Hand - Group savings club
  • Buy sale items at grocery
  • Cut electric bills by using fans instead of Air Conditioner
  • Eliminate personal beauty trips - massage, nail etc.
Ebenezer Class
  • No fast food restaurants
  • Plan ahead - set aside savings
  • Grocery and Gas paid on reloadable gift card so I don't spend over
  • Removed credit and debit card from my wallet
  • Make a budget
  • Pay cash
  • Match spending with savings 5 cents for every $1 spent
  • Have a change jar
  • Bring lunch to work

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