🕷️ Crawler Inspector

URL Lookup

Direct Parameter Lookup

Raw Queries and Responses

1. Shard Calculation

Query:

Response:

Calculated Shard: 115 (from laksa180)

2. Crawled Status Check

Query:

curl -X POST \
  'http://laksa115.int.ahrefs:8124/' \
  -H 'Content-Type: text/plain' \
  -H 'X-ClickHouse-Database: crawler3' \
  -H 'Authorization: Basic YXBpOg==' \
  -d 'SELECT getAhrefsURLFromUnparsed(src_unparsed) AS found_url, ifNull(toUnixTimestamp(download_stamp), 0) AS crawl_time, ifNull(toUnixTimestamp(props_url_first_seen), 0) AS first_indexed_time, download_http_code AS http_code, src_unparsed AS src_unparsed, src_root_hash AS src_root_hash, history_drop_reason AS history_drop_reason, meta_title AS meta_title, meta_descriptions AS meta_descriptions, attrs_boilerpipe_text AS attrs_boilerpipe_text, attrs_markdown AS attrs_markdown, attrs_readable_markdown AS attrs_readable_markdown, meta_canonical AS meta_canonical FROM crawler3.page_info_local FINAL PREWHERE (src_root_hash, src_unparsed) IN ((getAhrefsRootHashFromUnparsed(getAhrefsUnparsedNoserviceFromURL(\'https://www.chase.com/personal/banking/education/budgeting-saving/how-to-save-money\')), getAhrefsUnparsedNoserviceFromURL(\'https://www.chase.com/personal/banking/education/budgeting-saving/how-to-save-money\'))) FORMAT JSONEachRow'

Response:

{"found_url":"https:\/\/www.chase.com\/personal\/banking\/education\/budgeting-saving\/how-to-save-money","crawl_time":1774395843,"first_indexed_time":1714607231,"http_code":200,"src_unparsed":"com,chase!www,\/personal\/banking\/education\/budgeting-saving\/how-to-save-money s443","src_root_hash":"10672638215463561715","history_drop_reason":null,"meta_title":"How to Save Money: 14 Tips | Chase","meta_descriptions":["Discovering how to save money doesn’t need to feel daunting. Consider these money-saving tips that may help increase your savings each month."],"attrs_boilerpipe_text":"Knowing how to save money each month may be a challenge. Although\ninflation\nand rising prices may make saving money more difficult, you may still be able to find ways to save.\nTo save effectively, it’s important to have goals, a monthly budget and a plan to stay on track. Consider these tips to help you put more money away while staying on track with bills and necessary purchases.\n14 ways to save money\nThere are several ways to save money even in a tight economy. Some approaches rely on planning ahead to keep costs down, whereas others are a matter of knowing which financial tool to use at the right time. This article touches on each of these 14 tactics below:\nSet specific savings goals\nCreate a monthly budget and stick to it\nBring a shopping list to the store\nTry using cash for everyday purchases\nKnow when to use a debit card or a credit card\nReview your subscriptions\nSwitch your cell phone plan\nReduce your electric bill\nReduce your basic living costs\nMake the most out of your savings account\nSave unexpected or extra money\nPay off your debts\nSet aside money for an emergency fund\nContribute to a retirement savings plan\n1. Set specific savings goals\nBuilding savings during a difficult economic period can be made tougher without a financial goal in mind. If you can anchor your savings efforts to a specific goal, such as a down payment on a\nnew car\nor building your\nemergency fund\n, you may help motivate yourself to stay on track. Plus, if you have a specific number in mind for your goal, you may adjust your savings efforts to match it. This may help right-size the amount you want to set aside.\n2. Create a monthly budget and stick to it\nOnce you have specific financial goals in mind, it may be useful to\nset a budget\nto follow through on them. A monthly budget may help you better understand how your personal finance decisions affect your overall cash flow. By creating and sticking to a budget, you can track spending habits and potentially limit the number of impulse buys you make per month. A budget may help you avoid splurge purchases and track how much\nincome you can put into savings\nevery month. Consider using a budgeting app to help you\nautomate your savings\n, understand your spending and reach your goals.\n3. Bring a shopping list to the store\nShopping lists are great at helping us remember what we need to buy, as well as helping us\nlimit impulse purchases\n. Many retailers, including your local grocery store, are designed to encourage one-off or impulse purchases. Although one or two impulse purchases may not seem like a lot of money on their own, they may add up over time.\nThink of your shopping list as an extension of your budget: what you put on your list should be determined by your budgeting, keeping your budgeting on track in the process.\n4. Try using cash for everyday purchases\nWhen you pay in cash, you’re better able to see the actual financial impact of your purchases in realtime. Credit cards, by contrast, may make overspending easier because they're not physical currency. If you bring cash with you to the store, you’re physically limited by how much you have on hand. This may help you stick to your budget and stay honest with your shopping list.\n5. Know when to use a debit card or a credit card\nUsing cash isn’t always feasible, of course. There are some transactions, either online or in cashless stores, that require a card. Using your debit card when cash isn’t an option may help you be more cognizant of your spending. A credit card may enable you to overspend since you’re charged once a month; debit cards, however, require you to have the funds on hand for the transaction to go through.\nDepending on your bank checking account, your card might be declined at the point of purchase if you don’t have enough funds. Alternatively, you might see the transaction go through if you have\noverdraft protection\n. These protections may come at a cost, though, by way of fees.\nWhen making online purchases, keep in mind that credit cards will generally have stronger fraud protections than debit cards. Using credit and debit cards in an informed way may help you stay on budget and protect your finances from fraudsters.\n6. Review your subscriptions\nSubscription services, such as streaming services or publications, may eat away at your cash — often without you realizing it. Services that charge you monthly may go unnoticed, particularly if monthly fees are low. Over time, these small expenses may add up.\nIf you subscribe to publications, services or entertainment platforms you don’t use often, consider canceling them. This may be an easy way to free up cash every month, particularly if you aren’t missing what they have to offer or have stopped using them. If you’re not sure canceling is the right option, consider downgrading your subscription to a less expensive option.\nThere are a few ways you may identify and cancel subscriptions you no longer need. The first is by reviewing your bank or credit card statements. Some apps may help you keep track of and cancel subscriptions, but these may come with fees.\n7. Switch your cell phone plan\nCell phone service is an essential expense for most of us, although you don’t always have to pay a high price for good service. Some of the country’s largest networks are also the most expensive: these companies reinvest in new cell towers and other costs that make their way onto your monthly bill. Others may tout unparalleled service, charging you a premium in the process.\nIf you want to lower your cell phone bill, there are a few options to consider. First, check with your provider to determine whether a lower-tier plan is available. Expensive unlimited data plans may not be ideal for people who only use a few gigabytes of data every month.\nIf a lower-tier plan is not available, consider switching providers.\nLast, consider using secure Wi-Fi whenever possible. Safe Wi-Fi networks provide speed and flexibility with what you download and how much data you use. If you know you’ll usually be in areas where secure Wi-Fi is available, you may not need to buy a plan with a high data cap.\n8. Reduce your electric bill\nSome electricity costs are unavoidable, but cutting back may go a long way in many places. Keeping your thermostat lower in the winter and higher in the summer may result in lower monthly bills. Smart meters may help you regulate when and how much air conditioning and heating you use as well.\nSome power companies and state governments offer incentives for going green.\nYour utility company may offer free or low-cost energy audits, which may help you create a more energy-efficient home.\nLastly, try to turn off appliances when they’re not in use. Smart sockets may help you set timers that turn off appliances, lights and other energy-consuming appliances.\n9. Reduce your basic living costs\nWe may take living costs for granted: after all, studies have shown that “lifestyle creep” is a common phenomenon for many. It’s easy to spend more when you have more money. This doesn’t work as well when internal and external factors require you to scale back on life’s essentials.\nDepending on where you live, you may be able to afford a different lifestyle; when planning for the long term, consider a\ncost of living comparison\n. High-priced neighborhoods and cities may charge you a premium you could avoid by moving farther away. Be aware that this might also require you to spend more in other places, such as a monthly train ticket or gas for your car.\nIf you own a home, car or both, you may want to refinance these loans at a lower rate. If you’re paying more than the average interest rate on a\nmortgage\nor\nauto loan\n, refinancing may save you money over time, while reducing your monthly payments. Take a close look at your insurance policies as well, as you may be overpaying for your coverage. Many providers offer a discount for bundling home and car insurance, which may save you money every month.\n10. Make the most of your savings account\nUnderstanding the nuances of different types of bank accounts may help you save money in the long run. High-yield savings accounts offer high interest rates, usually in exchange for limited monthly transactions. A more conventional\nsavings bank account\ncould come with a lower interest rate but more flexibility with withdrawals and deposits. A\ncertificate of deposit (CD) account\nmay earn you even more interest, but most restrict you from withdrawing money for a certain period of time.\nWhen you link a checking and savings account, you may make it easier to factor savings into your budget. Recurring automatic transfers may give you the peace of mind that you're making payments on time, while saving towards your goals.\nSome employers may even let you divide your\ndirect deposit\npayments into two or more accounts. With this method, you can determine how much to put in savings right from your paycheck.\n11. Save unexpected or extra money\nIf you’re fortunate enough to come into\nunexpected money\n, be it from a bonus at work, tax refund or inheritance, consider setting it aside as savings to help you save more money in the long run. The more you put in a\nsavings account or CD\n, the more you’ll benefit from\ncompounding interest\n.\n12. Pay off your debts\nSome forms of debt, such as credit card debt, may have higher interest rates than others, like student loans. Depending on your situation, you might choose to pay off high-interest debt first or to pay off your smallest debts first. Both strategies have their own benefits and drawbacks. Either way, strategically tackling monthly payments on your debt may free you up to save money in the long run.\n13. Set aside money for an emergency fund\nEmergency funds are essential since they may help you pay for critical goods and services when you might otherwise have to take on debt to afford them. An emergency fund supplies you with a financial cushion should something unforeseen happen; a general rule is to have enough to cover three to six months' worth of expenses. With an emergency fund, you may earn interest on your balance while taking comfort in your financial strength in the face of a crisis.\n14. Contribute to a retirement savings plan\nRetirement savings plans, such as an individual retirement account (IRA) or 401(k), may provide you with tax-advantaged ways of saving for retirement. Depending on the kind of retirement plan you choose, you can opt to either pay taxes on your contributions up-front or when you start to withdraw funds from these plans in retirement.\nEarly withdrawals from retirement plans may come with financial penalties, so it's important to understand all your options before withdrawing funds.\nEmployers might offer common plans, such as a 401(k) or 403(b) for certain public or nonprofit employers. Employer plans generally allow you to make contributions from pre-tax dollars directly from your paycheck. Your employer may even \"match\" your contributions up to a certain percentage of your paycheck.\n(401)k accounts use pretax income for long-term investments. Since your investment dollars aren’t taxed as income when you invest, you pay tax on what you withdraw instead. Roth IRAs, on the other hand, use post-tax income for investment funds. In this scenario, you’ve already paid taxes on the money you've saved.\nReady to save?\nSaving for the future may not be easy, especially during economic uncertainty, but it’s an essential part of any successful personal finance plan. The more you save, the more prepared you may be when the unexpected happens. Whether you’re new to saving or looking to adapt in the face of economic headwinds, it’s important to know your options.\nThese tips on how to save money are only the beginning. Reach out to a financial professional for more information about personal banking solutions and other tools to keep your savings on track.","attrs_markdown":"## Please turn on JavaScript in your browserIt appears your web browser is not using JavaScript. Without it, some pages won't work properly. Please adjust the settings in your browser to make sure JavaScript is turned on.\n[Skip to main content](https:\/\/www.chase.com\/personal\/banking\/education\/budgeting-saving\/how-to-save-money#main)\n\n- [Personal current product](https:\/\/www.chase.com\/)\n- [Business](https:\/\/www.chase.com\/business)\n- [Commercial](https:\/\/www.jpmorgan.com\/commercial-banking)\n\n- [Schedule a meeting](https:\/\/www.chase.com\/meeting-scheduler\/getstarted)\n- Customer service\n  \n  - [See help options](https:\/\/www.chase.com\/digital\/customer-service)\n  - [Make a payment](https:\/\/www.chase.com\/personal\/mobile-online-banking\/make-payment)\n  - [Find ATM or branch](https:\/\/www.chase.com\/locator)\n- [Search](https:\/\/www.chase.com\/digital\/resources\/search-results.html)\n\nOpen side menu\n\n[![](https:\/\/www.chase.com\/content\/dam\/unified-assets\/logo\/chase\/chase-logo\/additional-file-formats\/logo_chase_headerfooter.svg) Chase logo, links to Chase home](https:\/\/www.chase.com\/)\n\n[Sign in](https:\/\/secure.chase.com\/)\n\n- Checking\n  \n  - [Choose a checking account](https:\/\/personal.chase.com\/personal\/checking)\n  - [Debit card for kids](https:\/\/personal.chase.com\/personal\/first-banking)\n- Savings & CDs\n  \n  - [Choose a savings account](https:\/\/personal.chase.com\/personal\/savings)\n  - [CDs](https:\/\/www.chase.com\/personal\/savings\/bank-cd)\n- Credit cards\n  \n  - [Explore credit cards](https:\/\/creditcards.chase.com\/?jp_ltg=chsecate_featured&CELL=6TKV)\n  - [See if you're pre-approved](https:\/\/secure.chase.com\/web\/oao\/application\/card?cfgCode=PREAPPROVEDCONCC&flowVersion=REACT&cellCode=6TKV#\/origination\/preapproved\/index\/index)\n  - ***\n    [Personal credit cards](https:\/\/creditcards.chase.com\/all-credit-cards?CELL=6TKV)\n  - [Business credit cards](https:\/\/creditcards.chase.com\/business-credit-cards?jp_ltg=chsecate_smlbiz&CELL=6TKV)\n- Home loans\n  \n  - [Overview](https:\/\/www.chase.com\/personal\/mortgage)\n  - [Mortgage rates](https:\/\/www.chase.com\/personal\/mortgage\/mortgage-rates)\n  - [Buy](https:\/\/www.chase.com\/personal\/mortgage\/mortgage-purchase)\n  - [Refinance](https:\/\/www.chase.com\/personal\/mortgage\/mortgage-refinance)\n  - [Home equity](https:\/\/www.chase.com\/personal\/mortgage\/refinance\/equity)\n  - [Calculators](https:\/\/www.chase.com\/personal\/mortgage\/calculators-resources)\n  - [Manage accounts](https:\/\/www.chase.com\/personal\/mortgage\/manage-account)\n- Auto\n  \n  - [Explore car financing](https:\/\/autofinance.chase.com\/)\n  - [Refinance your car](https:\/\/autofinance.chase.com\/auto-finance\/refinance)\n- Investing by J.P. Morgan\n  \n  - [Explore investing](https:\/\/www.chase.com\/personal\/investments)\n  - [Work with our advisors](https:\/\/www.chase.com\/personal\/investments\/advisor-services)\n  - [Invest on your own](https:\/\/www.chase.com\/personal\/investments\/online-investing\/sdi)\n  - ***\n    [Retirement and IRAs](https:\/\/www.chase.com\/personal\/investments\/retirement)\n  - [Education planning](https:\/\/www.chase.com\/personal\/investments\/education)\n  - [Investing insights](https:\/\/www.chase.com\/personal\/investments\/learning-and-insights)\n- Education & goals\n  \n  - [Education center](https:\/\/www.chase.com\/personal\/education)\n  - [Free credit score](https:\/\/www.chase.com\/personal\/credit-cards\/free-credit-score)\n  - [Chase Money Skills](https:\/\/www.chase.com\/personal\/financial-goals)\n  - [Security Center](https:\/\/www.chase.com\/digital\/resources\/privacy-security)\n- Travel\n  \n  - [Book with Chase Travel](https:\/\/www.chase.com\/travel)\n  - [Explore The Edit](https:\/\/www.chase.com\/travel\/the-edit)\n  - [Travel inspiration](https:\/\/www.chase.com\/travel\/guide)\n  - [Editor hotel picks](https:\/\/www.chase.com\/travel\/guide\/hotel-spotlights)\n  - [Restaurant guidesOpens overlay](https:\/\/www.theinfatuation.com\/all\/collection\/first-timers-guides)\n  - [Chase Travel Corporate Solutions](https:\/\/www.chasetravelcorporatesolutions.com\/)\n\n1. [Education center](https:\/\/www.chase.com\/personal\/education)\n2. [Personal banking](https:\/\/www.chase.com\/personal\/banking\/education)\n3. [Budgeting and saving](https:\/\/www.chase.com\/personal\/banking\/education\/budgeting-saving)\n\n# How to save money: 14 tips\nTime to read\n\nmin\n\n![](https:\/\/www.chase.com\/content\/services\/rendition\/image.medium.jpg\/unified-assets\/photography\/articles\/primary\/banking\/seo_how-to-save-money_040824.jpg)\n\nKnowing how to save money each month may be a challenge. Although [inflation](https:\/\/www.chase.com\/personal\/banking\/education\/basics\/what-is-inflation) and rising prices may make saving money more difficult, you may still be able to find ways to save.\n\nTo save effectively, it’s important to have goals, a monthly budget and a plan to stay on track. Consider these tips to help you put more money away while staying on track with bills and necessary purchases.\n\n## 14 ways to save money\nThere are several ways to save money even in a tight economy. Some approaches rely on planning ahead to keep costs down, whereas others are a matter of knowing which financial tool to use at the right time. This article touches on each of these 14 tactics below:\n\n- Set specific savings goals\n- Create a monthly budget and stick to it\n- Bring a shopping list to the store\n- Try using cash for everyday purchases\n- Know when to use a debit card or a credit card\n- Review your subscriptions\n- Switch your cell phone plan\n- Reduce your electric bill\n- Reduce your basic living costs\n- Make the most out of your savings account\n- Save unexpected or extra money\n- Pay off your debts\n- Set aside money for an emergency fund\n- Contribute to a retirement savings plan\n### 1\\. Set specific savings goals\nBuilding savings during a difficult economic period can be made tougher without a financial goal in mind. If you can anchor your savings efforts to a specific goal, such as a down payment on a [new car](https:\/\/www.chase.com\/personal\/banking\/education\/budgeting-saving\/how-can-i-save-for-a-car) or building your [emergency fund](https:\/\/www.chase.com\/personal\/banking\/education\/budgeting-saving\/how-much-should-i-have-in-emergency-fund), you may help motivate yourself to stay on track. Plus, if you have a specific number in mind for your goal, you may adjust your savings efforts to match it. This may help right-size the amount you want to set aside.\n\n### 2\\. Create a monthly budget and stick to it\nOnce you have specific financial goals in mind, it may be useful to [set a budget](https:\/\/www.chase.com\/personal\/financial-goals\/budget) to follow through on them. A monthly budget may help you better understand how your personal finance decisions affect your overall cash flow. By creating and sticking to a budget, you can track spending habits and potentially limit the number of impulse buys you make per month. A budget may help you avoid splurge purchases and track how much [income you can put into savings](https:\/\/www.chase.com\/personal\/banking\/education\/budgeting-saving\/how-much-should-you-save-each-month) every month. Consider using a budgeting app to help you [automate your savings](https:\/\/www.chase.com\/personal\/checking\/savings-program), understand your spending and reach your goals.\n\n### 3\\. Bring a shopping list to the store\nShopping lists are great at helping us remember what we need to buy, as well as helping us [limit impulse purchases](https:\/\/www.chase.com\/personal\/banking\/education\/budgeting-saving\/impulse-buy). Many retailers, including your local grocery store, are designed to encourage one-off or impulse purchases. Although one or two impulse purchases may not seem like a lot of money on their own, they may add up over time.\n\nThink of your shopping list as an extension of your budget: what you put on your list should be determined by your budgeting, keeping your budgeting on track in the process.\n\n### 4\\. Try using cash for everyday purchases\nWhen you pay in cash, you’re better able to see the actual financial impact of your purchases in realtime. Credit cards, by contrast, may make overspending easier because they're not physical currency. If you bring cash with you to the store, you’re physically limited by how much you have on hand. This may help you stick to your budget and stay honest with your shopping list.\n\n### 5\\. Know when to use a debit card or a credit card\nUsing cash isn’t always feasible, of course. There are some transactions, either online or in cashless stores, that require a card. Using your debit card when cash isn’t an option may help you be more cognizant of your spending. A credit card may enable you to overspend since you’re charged once a month; debit cards, however, require you to have the funds on hand for the transaction to go through.\n\nDepending on your bank checking account, your card might be declined at the point of purchase if you don’t have enough funds. Alternatively, you might see the transaction go through if you have [overdraft protection](https:\/\/www.chase.com\/personal\/banking\/education\/basics\/overdraft-protection). These protections may come at a cost, though, by way of fees.\n\nWhen making online purchases, keep in mind that credit cards will generally have stronger fraud protections than debit cards. Using credit and debit cards in an informed way may help you stay on budget and protect your finances from fraudsters.\n\n### 6\\. Review your subscriptions\nSubscription services, such as streaming services or publications, may eat away at your cash — often without you realizing it. Services that charge you monthly may go unnoticed, particularly if monthly fees are low. Over time, these small expenses may add up.\n\nIf you subscribe to publications, services or entertainment platforms you don’t use often, consider canceling them. This may be an easy way to free up cash every month, particularly if you aren’t missing what they have to offer or have stopped using them. If you’re not sure canceling is the right option, consider downgrading your subscription to a less expensive option.\n\nThere are a few ways you may identify and cancel subscriptions you no longer need. The first is by reviewing your bank or credit card statements. Some apps may help you keep track of and cancel subscriptions, but these may come with fees.\n\n### 7\\. Switch your cell phone plan\nCell phone service is an essential expense for most of us, although you don’t always have to pay a high price for good service. Some of the country’s largest networks are also the most expensive: these companies reinvest in new cell towers and other costs that make their way onto your monthly bill. Others may tout unparalleled service, charging you a premium in the process.\n\nIf you want to lower your cell phone bill, there are a few options to consider. First, check with your provider to determine whether a lower-tier plan is available. Expensive unlimited data plans may not be ideal for people who only use a few gigabytes of data every month.\n\nIf a lower-tier plan is not available, consider switching providers.\n\nLast, consider using secure Wi-Fi whenever possible. Safe Wi-Fi networks provide speed and flexibility with what you download and how much data you use. If you know you’ll usually be in areas where secure Wi-Fi is available, you may not need to buy a plan with a high data cap.\n\n### 8\\. Reduce your electric bill\nSome electricity costs are unavoidable, but cutting back may go a long way in many places. Keeping your thermostat lower in the winter and higher in the summer may result in lower monthly bills. Smart meters may help you regulate when and how much air conditioning and heating you use as well.\n\nSome power companies and state governments offer incentives for going green. Your utility company may offer free or low-cost energy audits, which may help you create a more energy-efficient home.\n\nLastly, try to turn off appliances when they’re not in use. Smart sockets may help you set timers that turn off appliances, lights and other energy-consuming appliances.\n\n### 9\\. Reduce your basic living costs\nWe may take living costs for granted: after all, studies have shown that “lifestyle creep” is a common phenomenon for many. It’s easy to spend more when you have more money. This doesn’t work as well when internal and external factors require you to scale back on life’s essentials.\n\nDepending on where you live, you may be able to afford a different lifestyle; when planning for the long term, consider a [cost of living comparison](https:\/\/www.chase.com\/personal\/mortgage\/education\/buying-a-home\/cost-of-living-what-to-consider-before-moving). High-priced neighborhoods and cities may charge you a premium you could avoid by moving farther away. Be aware that this might also require you to spend more in other places, such as a monthly train ticket or gas for your car.\n\nIf you own a home, car or both, you may want to refinance these loans at a lower rate. If you’re paying more than the average interest rate on a [mortgage](https:\/\/www.chase.com\/personal\/mortgage\/education\/owning-a-home\/refinance-your-home) or [auto loan](https:\/\/www.chase.com\/personal\/auto\/education\/financing\/guide-to-refinancing-a-car-how-it-works), refinancing may save you money over time, while reducing your monthly payments. Take a close look at your insurance policies as well, as you may be overpaying for your coverage. Many providers offer a discount for bundling home and car insurance, which may save you money every month.\n\n### 10\\. Make the most of your savings account\nUnderstanding the nuances of different types of bank accounts may help you save money in the long run. High-yield savings accounts offer high interest rates, usually in exchange for limited monthly transactions. A more conventional [savings bank account](https:\/\/www.chase.com\/personal\/savings\/savings-account) could come with a lower interest rate but more flexibility with withdrawals and deposits. A [certificate of deposit (CD) account](https:\/\/www.chase.com\/personal\/banking\/education\/basics\/define-certificate-of-deposit) may earn you even more interest, but most restrict you from withdrawing money for a certain period of time.\n\nWhen you link a checking and savings account, you may make it easier to factor savings into your budget. Recurring automatic transfers may give you the peace of mind that you're making payments on time, while saving towards your goals.\n\nSome employers may even let you divide your [direct deposit](https:\/\/www.chase.com\/personal\/banking\/education\/basics\/direct-deposit) payments into two or more accounts. With this method, you can determine how much to put in savings right from your paycheck.\n\n### 11\\. Save unexpected or extra money\nIf you’re fortunate enough to come into [unexpected money](https:\/\/www.chase.com\/personal\/credit-cards\/education\/credit-score\/how-to-handle-a-financial-windfall), be it from a bonus at work, tax refund or inheritance, consider setting it aside as savings to help you save more money in the long run. The more you put in a [savings account or CD](https:\/\/www.chase.com\/personal\/banking\/education\/budgeting-saving\/cd-vs-savings-account), the more you’ll benefit from [compounding interest](https:\/\/www.chase.com\/personal\/banking\/education\/budgeting-saving\/what-is-a-compound-interest-account).\n\n### 12\\. Pay off your debts\nSome forms of debt, such as credit card debt, may have higher interest rates than others, like student loans. Depending on your situation, you might choose to pay off high-interest debt first or to pay off your smallest debts first. Both strategies have their own benefits and drawbacks. Either way, strategically tackling monthly payments on your debt may free you up to save money in the long run.\n\n### 13\\. Set aside money for an emergency fund\nEmergency funds are essential since they may help you pay for critical goods and services when you might otherwise have to take on debt to afford them. An emergency fund supplies you with a financial cushion should something unforeseen happen; a general rule is to have enough to cover three to six months' worth of expenses. With an emergency fund, you may earn interest on your balance while taking comfort in your financial strength in the face of a crisis.\n\n### 14\\. Contribute to a retirement savings plan\nRetirement savings plans, such as an individual retirement account (IRA) or 401(k), may provide you with tax-advantaged ways of saving for retirement. Depending on the kind of retirement plan you choose, you can opt to either pay taxes on your contributions up-front or when you start to withdraw funds from these plans in retirement.\n\nEarly withdrawals from retirement plans may come with financial penalties, so it's important to understand all your options before withdrawing funds.\n\nEmployers might offer common plans, such as a 401(k) or 403(b) for certain public or nonprofit employers. Employer plans generally allow you to make contributions from pre-tax dollars directly from your paycheck. Your employer may even \"match\" your contributions up to a certain percentage of your paycheck.\n\n(401)k accounts use pretax income for long-term investments. Since your investment dollars aren’t taxed as income when you invest, you pay tax on what you withdraw instead. Roth IRAs, on the other hand, use post-tax income for investment funds. In this scenario, you’ve already paid taxes on the money you've saved.\n\n## Ready to save?\nSaving for the future may not be easy, especially during economic uncertainty, but it’s an essential part of any successful personal finance plan. The more you save, the more prepared you may be when the unexpected happens. Whether you’re new to saving or looking to adapt in the face of economic headwinds, it’s important to know your options.\n\nThese tips on how to save money are only the beginning. Reach out to a financial professional for more information about personal banking solutions and other tools to keep your savings on track.\n\n[Find a savings account](https:\/\/personal.chase.com\/personal\/savings)\n\n[Open a CD account](https:\/\/www.chase.com\/personal\/savings\/bank-cd)\n\n***\nTopics:\n\n- [budgeting](https:\/\/www.chase.com\/personal\/banking\/education\/topic-page?tagname=budgeting&tagtitle=budgeting&articleName=budgeting)\n\n## What to read next\n***\n- [Creating a household budget ![](https:\/\/www.chase.com\/content\/services\/rendition\/image.medium.jpg\/unified-assets\/photography\/articles\/education-center\/banking\/budgeting-saving\/seo-household-budgeting.jpg)](https:\/\/www.chase.com\/personal\/banking\/education\/budgeting-saving\/household-budgeting)\n  \n  A household budget provides a roadmap for spending, saving and paying down debt. Learn how to create a budget that works for you and your family\n  \n  [ContinueCreating a household budget](https:\/\/www.chase.com\/personal\/banking\/education\/budgeting-saving\/household-budgeting)\n- [Tips for managing and paying off student loan debt ![](https:\/\/www.chase.com\/content\/services\/rendition\/image.medium.jpg\/unified-assets\/photography\/articles\/education-center\/banking\/budgeting-saving\/seo-how-to-pay-off-student-loans.jpg)](https:\/\/www.chase.com\/personal\/banking\/education\/budgeting-saving\/how-to-pay-off-student-loans)\n  \n  With different ways to pay off student loan debt, what are your options? Let’s dive into repayment plans, income-based options and what may be the quickest.\n  \n  [ContinueTips for managing and paying off student loan debt](https:\/\/www.chase.com\/personal\/banking\/education\/budgeting-saving\/how-to-pay-off-student-loans)\n- [Budgeting for your short- and long-term plans ![](https:\/\/www.chase.com\/content\/services\/rendition\/image.medium.jpg\/unified-assets\/photography\/articles\/education-center\/banking\/budgeting-saving\/seo-short-and-long-term-plans.jpg)](https:\/\/www.chase.com\/personal\/banking\/education\/budgeting-saving\/short-and-long-term-plans)\n  \n  Learn more about how effective budgeting may help you achieve both immediate goals and long-term financial aspirations.\n  \n  [ContinueBudgeting for your short- and long-term plans](https:\/\/www.chase.com\/personal\/banking\/education\/budgeting-saving\/short-and-long-term-plans)\n- [How to financially prepare for divorce ![](https:\/\/www.chase.com\/content\/services\/rendition\/image.medium.jpg\/unified-assets\/photography\/articles\/education-center\/banking\/budgeting-saving\/seo-divorce-financial-preparation.jpg)](https:\/\/www.chase.com\/personal\/banking\/education\/budgeting-saving\/divorce-financial-preparation)\n  \n  Learn more about the ways you can financially prepare for divorce, common mistakes to avoid and considerations when creating your post-divorce budget\n  \n  [ContinueHow to financially prepare for divorce](https:\/\/www.chase.com\/personal\/banking\/education\/budgeting-saving\/divorce-financial-preparation)\n\n- 1\n- 2\n- 3\n***\n\n**For Informational\/Educational Purposes Only:** The opinions expressed in this article may differ from other employees and departments of JPMorgan Chase & Co. Opinions and strategies described may not be appropriate for everyone, and are not intended as specific advice\/recommendation for any individual. You should carefully consider your needs and objectives before making any decisions, and consult the appropriate professional(s). Outlooks and past performance are not guarantees of future results.\n\nJPMorgan Chase Bank, N.A. Member FDIC\n\nJ.P. Morgan Wealth Management is a business of JPMorgan Chase & Co., which offers investment products and services through **J.P. Morgan Securities LLC** (JPMS), a registered broker-dealer and investment adviser, member FINRA and SIPC. Insurance products are made available through Chase Insurance Agency, Inc. (CIA), a licensed insurance agency, doing business as Chase Insurance Agency Services, Inc. in Florida. Certain custody and other services are provided by JPMorgan Chase Bank, N.A. (JPMCB). JPMS, CIA and JPMCB are affiliated companies under the common control of JPMorgan Chase & Co. Products not available in all states.\n\nINVESTMENT AND INSURANCE PRODUCTS ARE: • NOT FDIC INSURED • NOT INSURED\n\nBY ANY FEDERAL GOVERNMENT AGENCY • NOT A\n\nDEPOSIT OR OTHER OBLIGATION OF, OR GUARANTEED BY, JPMORGAN CHASE BANK, N.A. OR\n\nANY OF ITS AFFILIATES • SUBJECT TO INVESTMENT RISKS, INCLUDING POSSIBLE LOSS OF THE\n\nPRINCIPAL AMOUNT INVESTED\n\n[![Chase logo, links to Chase home](https:\/\/www.chase.com\/content\/dam\/unified-assets\/logo\/chase\/chase-logo\/additional-file-formats\/logo_chase_headerfooter.svg)](https:\/\/www.chase.com\/)\n\n## Checking Accounts\n***\nChoose the [checking account](https:\/\/personal.chase.com\/personal\/checking) that works best for you. See our [Chase Total Checking®](https:\/\/www.chase.com\/personal\/offers\/total-checking-300) offer for new customers. Make purchases with your debit card, and bank from almost anywhere by phone, tablet or computer and more than 14,000 ATMs and 5,000 branches.\n\n## Savings Accounts & CDs\n***\nIt’s never too early to begin saving. [Open a savings account](https:\/\/personal.chase.com\/personal\/savings) or open a Certificate of Deposit ([see interest rates](https:\/\/www.chase.com\/personal\/savings\/bank-cd)) and start saving your money.\n\n## Credit Cards\n***\nChase [credit cards](https:\/\/creditcards.chase.com\/) can help you buy the things you need. Many of our cards [offer rewards](https:\/\/creditcards.chase.com\/rewards-credit-cards) that can be redeemed for [cash back](https:\/\/creditcards.chase.com\/cash-back-credit-cards) or [travel-related](https:\/\/creditcards.chase.com\/travel-credit-cards) perks. With so many options, it can be easy to find a card that matches your lifestyle. Plus, with Credit Journey you can get a [free credit score](https:\/\/www.chase.com\/personal\/credit-cards\/free-credit-score)\\!\n\n## Mortgages\n***\nApply for a [mortgage](https:\/\/www.chase.com\/personal\/mortgage) or [refinance your mortgage](https:\/\/www.chase.com\/personal\/mortgage\/mortgage-refinance) with Chase. View today’s [mortgage rates](https:\/\/www.chase.com\/personal\/mortgage\/mortgage-rates) or calculate what you can afford with our [mortgage calculator](https:\/\/www.chase.com\/personal\/mortgage\/calculators-resources\/mortgage-calculator). Visit our [Education Center](https:\/\/www.chase.com\/personal\/mortgage\/education) for homebuying tips and more.\n\n## Auto\n***\n[Chase Auto](https:\/\/autofinance.chase.com\/?offercode=WDXDPXXX02) is here to help you get the right car. Apply for [auto financing](https:\/\/autofinance.chase.com\/auto-finance\/auto-loans?offercode=WDXDPXXX02) for a new or used car with Chase. Use the [payment calculator](https:\/\/www.chase.com\/personal\/auto\/payment-calculator) to estimate monthly payments. Check out the [Chase Auto Education Center](https:\/\/www.chase.com\/personal\/auto\/education?offercode=WDXDPXXX02) to get car guidance from a trusted source.\n\n## Chase for Business\n***\nWith Chase for Business you’ll receive guidance from a team of business professionals who specialize in helping improve cash flow, providing credit solutions, and managing payroll. Choose from [business checking](https:\/\/www.chase.com\/business\/banking\/checking), [small business loans](https:\/\/www.chase.com\/business\/banking\/loans), [business credit cards](https:\/\/creditcards.chase.com\/business-credit-cards), [merchant services](https:\/\/www.chase.com\/business\/payments) or visit our [business resource center](https:\/\/www.chase.com\/business\/knowledge-center).\n\n## Sports & Entertainment\n***\nChase gives you access to unique sports, entertainment and culinary events through [Chase Experiences](https:\/\/www.chase.com\/personal\/events\/experiences) and our exclusive partnerships such as the [US Open](https:\/\/www.chase.com\/personal\/events\/us-open), [Madison Square GardenOpens overlay](https:\/\/www.msg.com\/) and [Chase Center](https:\/\/www.chase.com\/personal\/events\/chase-center).\n\n## Chase Security Center\n***\nOur [suite of security features](https:\/\/www.chase.com\/digital\/resources\/privacy-security) can [help you protect](https:\/\/www.chase.com\/digital\/resources\/privacy-security\/security\/how-you-can-protect) your info, money and give you peace of mind. See how we're dedicated to helping [protect you](https:\/\/www.chase.com\/digital\/resources\/privacy-security\/security\/how-we-protect-you), your accounts and your loved ones from [financial abuse](https:\/\/www.chase.com\/digital\/resources\/privacy-security\/financial-abuse). Also, [learn about the common tricks scammers are using](https:\/\/www.chase.com\/digital\/resources\/privacy-security\/security\/how-to-spot-scams) to help you stay one step ahead of them. If you see unauthorized charges or believe your account was compromised contact us right away to [report fraud](https:\/\/www.chase.com\/digital\/resources\/privacy-security\/security\/report-fraud).\n\n## About Chase\n***\nChase serves millions of people with a broad range of products. [Chase online](https:\/\/www.chase.com\/) lets you manage your Chase accounts, view statements, monitor activity, pay bills or transfer funds securely from one central place. To learn more, visit the [Banking Education Center](https:\/\/www.chase.com\/personal\/banking\/education). For questions or concerns, please contact [Chase customer service](https:\/\/www.chase.com\/digital\/customer-service) or let us know about [Chase complaints and feedback](https:\/\/www.chase.com\/digital\/resources\/complaints-feedback). View the [Chase Community Reinvestment Act Public File](https:\/\/www.chase.com\/digital\/resources\/about-chase\/cra-public-file) for the bank’s latest CRA rating and other CRA-related information.\n\n## Investing by J.P. Morgan\n***\nPartner with a global leader who puts your financial needs first. [Invest on your own](https:\/\/www.chase.com\/personal\/investments\/offers-700) or [work with an advisor](https:\/\/www.chase.com\/personal\/investments\/advisor-services) — we have the [products](https:\/\/www.chase.com\/personal\/investments\/product-overview), [technology](https:\/\/www.chase.com\/personal\/investments\/digital-capabilities) and [investment education](https:\/\/www.chase.com\/personal\/investments\/learning-and-insights), to help you grow your wealth. Visit a J.P. Morgan [Wealth Management Branch](https:\/\/jpmorganwealthmanagement.chase.com\/advisor) or check out our latest online investing [features](https:\/\/www.chase.com\/personal\/investments\/online-investing\/self-directed\/investing-features), [offers, promotions, and coupons](https:\/\/www.chase.com\/personal\/investments\/offers-700).\n\n**INVESTMENT AND INSURANCE PRODUCTS ARE:**\n\n- **NOT FDIC INSURED**\n- **NOT INSURED BY ANY FEDERAL GOVERNMENT AGENCY**\n- **NOT A DEPOSIT OR OTHER OBLIGATION OF, OR GUARANTEED BY, JPMORGAN CHASE BANK, N.A. OR ANY OF ITS AFFILIATES**\n- **SUBJECT TO INVESTMENT RISKS, INCLUDING POSSIBLE LOSS OF THE PRINCIPAL AMOUNT INVESTED**\n\n## Chase Private Client\n***\nGet more from a personalized relationship offering [no everyday banking fees](https:\/\/www.chase.com\/personal\/checking\/private-client#personalized-financial-relationship), priority service from a [dedicated team](https:\/\/www.chase.com\/personal\/checking\/private-client\/team) and [special perks and benefits](https:\/\/www.chase.com\/personal\/checking\/private-client\/perks). Connect with a Chase Private Client Banker at your nearest [Chase branch](https:\/\/locator.chase.com\/?locale=en_US) to learn about eligibility requirements and all available benefits.\n\n**INVESTMENT AND INSURANCE PRODUCTS ARE:**\n\n- **NOT A DEPOSIT**\n- **NOT FDIC INSURED**\n- **NOT INSURED BY ANY FEDERAL GOVERNMENT AGENCY**\n- **NO BANK GUARANTEE**\n- **MAY LOSE VALUE**\n## Other Products & Services:\n- [Deposit Account Agreements](https:\/\/www.chase.com\/personal\/branch-disclosures)\n- [Mobile Banking](https:\/\/www.chase.com\/digital\/mobile-banking)\n- [Online Banking](https:\/\/www.chase.com\/digital\/online-banking)\n- [Student Center](https:\/\/www.chase.com\/personal\/financial-goals\/life-moments)\n- [Zelle®](https:\/\/www.chase.com\/personal\/zelle)\n\n- [Facebook, Opens overlay](https:\/\/www.facebook.com\/chase)\n- [Instagram, Opens overlay](https:\/\/instagram.com\/chase)\n- [X, formerly Twitter, Opens overlay](https:\/\/twitter.com\/Chase)\n- [YouTube, Opens overlay](https:\/\/www.youtube.com\/chase)\n- [LinkedIn, Opens overlay](https:\/\/www.linkedin.com\/company\/chase?trk=company_logo)\n- [Pinterest, Opens overlay](https:\/\/www.pinterest.com\/chase\/)\n\n\"Chase,\" \"JPMorgan,\" \"JPMorgan Chase,\" the JPMorgan Chase logo and the Octagon Symbol are trademarks of JPMorgan Chase Bank, N.A. JPMorgan Chase Bank, N.A. is a wholly-owned subsidiary of JPMorgan Chase & Co.\n\nBank deposit accounts, such as checking and savings, may be subject to approval. Deposit products and related services are offered by JPMorgan Chase Bank, N.A. Member FDIC.\n\n- [J.P. Morgan](https:\/\/www.jpmorgan.com\/global)\n- [JPMorganChase](https:\/\/www.jpmorganchase.com\/)\n- [Media Center](https:\/\/media.chase.com\/)\n- [Careers](https:\/\/careers.jpmorgan.com\/US\/en\/chase)\n- [Site Map](https:\/\/www.chase.com\/digital\/resources\/sitemap)\n- [Privacy](https:\/\/www.chase.com\/digital\/resources\/privacy-security\/privacy\/online-privacy-policy)\n- [Security](https:\/\/www.chase.com\/digital\/resources\/privacy-security)\n- [Terms of Use](https:\/\/www.chase.com\/digital\/resources\/terms-of-use)\n- [Accessibility](https:\/\/www.chase.com\/digital\/resources\/accessibility)\n- [AdChoicesOpens overlay](https:\/\/optout.aboutads.info\/?c=2&lang=EN)\n- [Give feedback](https:\/\/survey.experience.chase.com\/jfe\/form\/SV_0rBuvmGXX6OhYEJ)\n- Member FDIC\n- Equal Housing Opportunity\n\n© 2026\n\nJPMorgan Chase & Co.","attrs_readable_markdown":"Knowing how to save money each month may be a challenge. Although [inflation](https:\/\/www.chase.com\/personal\/banking\/education\/basics\/what-is-inflation) and rising prices may make saving money more difficult, you may still be able to find ways to save.\n\nTo save effectively, it’s important to have goals, a monthly budget and a plan to stay on track. Consider these tips to help you put more money away while staying on track with bills and necessary purchases.\n\n## 14 ways to save money\nThere are several ways to save money even in a tight economy. Some approaches rely on planning ahead to keep costs down, whereas others are a matter of knowing which financial tool to use at the right time. This article touches on each of these 14 tactics below:\n\nSet specific savings goals Create a monthly budget and stick to it Bring a shopping list to the store Try using cash for everyday purchases Know when to use a debit card or a credit card Review your subscriptions Switch your cell phone plan Reduce your electric bill Reduce your basic living costs Make the most out of your savings account Save unexpected or extra money Pay off your debts Set aside money for an emergency fund Contribute to a retirement savings plan\n\n### 1\\. Set specific savings goals\nBuilding savings during a difficult economic period can be made tougher without a financial goal in mind. If you can anchor your savings efforts to a specific goal, such as a down payment on a [new car](https:\/\/www.chase.com\/personal\/banking\/education\/budgeting-saving\/how-can-i-save-for-a-car) or building your [emergency fund](https:\/\/www.chase.com\/personal\/banking\/education\/budgeting-saving\/how-much-should-i-have-in-emergency-fund), you may help motivate yourself to stay on track. Plus, if you have a specific number in mind for your goal, you may adjust your savings efforts to match it. This may help right-size the amount you want to set aside.\n\n### 2\\. Create a monthly budget and stick to it\nOnce you have specific financial goals in mind, it may be useful to [set a budget](https:\/\/www.chase.com\/personal\/financial-goals\/budget) to follow through on them. A monthly budget may help you better understand how your personal finance decisions affect your overall cash flow. By creating and sticking to a budget, you can track spending habits and potentially limit the number of impulse buys you make per month. A budget may help you avoid splurge purchases and track how much [income you can put into savings](https:\/\/www.chase.com\/personal\/banking\/education\/budgeting-saving\/how-much-should-you-save-each-month) every month. Consider using a budgeting app to help you [automate your savings](https:\/\/www.chase.com\/personal\/checking\/savings-program), understand your spending and reach your goals.\n\n### 3\\. Bring a shopping list to the store\nShopping lists are great at helping us remember what we need to buy, as well as helping us [limit impulse purchases](https:\/\/www.chase.com\/personal\/banking\/education\/budgeting-saving\/impulse-buy). Many retailers, including your local grocery store, are designed to encourage one-off or impulse purchases. Although one or two impulse purchases may not seem like a lot of money on their own, they may add up over time.\n\nThink of your shopping list as an extension of your budget: what you put on your list should be determined by your budgeting, keeping your budgeting on track in the process.\n\n### 4\\. Try using cash for everyday purchases\nWhen you pay in cash, you’re better able to see the actual financial impact of your purchases in realtime. Credit cards, by contrast, may make overspending easier because they're not physical currency. If you bring cash with you to the store, you’re physically limited by how much you have on hand. This may help you stick to your budget and stay honest with your shopping list.\n\n### 5\\. Know when to use a debit card or a credit card\nUsing cash isn’t always feasible, of course. There are some transactions, either online or in cashless stores, that require a card. Using your debit card when cash isn’t an option may help you be more cognizant of your spending. A credit card may enable you to overspend since you’re charged once a month; debit cards, however, require you to have the funds on hand for the transaction to go through.\n\nDepending on your bank checking account, your card might be declined at the point of purchase if you don’t have enough funds. Alternatively, you might see the transaction go through if you have [overdraft protection](https:\/\/www.chase.com\/personal\/banking\/education\/basics\/overdraft-protection). These protections may come at a cost, though, by way of fees.\n\nWhen making online purchases, keep in mind that credit cards will generally have stronger fraud protections than debit cards. Using credit and debit cards in an informed way may help you stay on budget and protect your finances from fraudsters.\n\n### 6\\. Review your subscriptions\nSubscription services, such as streaming services or publications, may eat away at your cash — often without you realizing it. Services that charge you monthly may go unnoticed, particularly if monthly fees are low. Over time, these small expenses may add up.\n\nIf you subscribe to publications, services or entertainment platforms you don’t use often, consider canceling them. This may be an easy way to free up cash every month, particularly if you aren’t missing what they have to offer or have stopped using them. If you’re not sure canceling is the right option, consider downgrading your subscription to a less expensive option.\n\nThere are a few ways you may identify and cancel subscriptions you no longer need. The first is by reviewing your bank or credit card statements. Some apps may help you keep track of and cancel subscriptions, but these may come with fees.\n\n### 7\\. Switch your cell phone plan\nCell phone service is an essential expense for most of us, although you don’t always have to pay a high price for good service. Some of the country’s largest networks are also the most expensive: these companies reinvest in new cell towers and other costs that make their way onto your monthly bill. Others may tout unparalleled service, charging you a premium in the process.\n\nIf you want to lower your cell phone bill, there are a few options to consider. First, check with your provider to determine whether a lower-tier plan is available. Expensive unlimited data plans may not be ideal for people who only use a few gigabytes of data every month.\n\nIf a lower-tier plan is not available, consider switching providers.\n\nLast, consider using secure Wi-Fi whenever possible. Safe Wi-Fi networks provide speed and flexibility with what you download and how much data you use. If you know you’ll usually be in areas where secure Wi-Fi is available, you may not need to buy a plan with a high data cap.\n\n### 8\\. Reduce your electric bill\nSome electricity costs are unavoidable, but cutting back may go a long way in many places. Keeping your thermostat lower in the winter and higher in the summer may result in lower monthly bills. Smart meters may help you regulate when and how much air conditioning and heating you use as well.\n\nSome power companies and state governments offer incentives for going green. Your utility company may offer free or low-cost energy audits, which may help you create a more energy-efficient home.\n\nLastly, try to turn off appliances when they’re not in use. Smart sockets may help you set timers that turn off appliances, lights and other energy-consuming appliances.\n\n### 9\\. Reduce your basic living costs\nWe may take living costs for granted: after all, studies have shown that “lifestyle creep” is a common phenomenon for many. It’s easy to spend more when you have more money. This doesn’t work as well when internal and external factors require you to scale back on life’s essentials.\n\nDepending on where you live, you may be able to afford a different lifestyle; when planning for the long term, consider a [cost of living comparison](https:\/\/www.chase.com\/personal\/mortgage\/education\/buying-a-home\/cost-of-living-what-to-consider-before-moving). High-priced neighborhoods and cities may charge you a premium you could avoid by moving farther away. Be aware that this might also require you to spend more in other places, such as a monthly train ticket or gas for your car.\n\nIf you own a home, car or both, you may want to refinance these loans at a lower rate. If you’re paying more than the average interest rate on a [mortgage](https:\/\/www.chase.com\/personal\/mortgage\/education\/owning-a-home\/refinance-your-home) or [auto loan](https:\/\/www.chase.com\/personal\/auto\/education\/financing\/guide-to-refinancing-a-car-how-it-works), refinancing may save you money over time, while reducing your monthly payments. Take a close look at your insurance policies as well, as you may be overpaying for your coverage. Many providers offer a discount for bundling home and car insurance, which may save you money every month.\n\n### 10\\. Make the most of your savings account\nUnderstanding the nuances of different types of bank accounts may help you save money in the long run. High-yield savings accounts offer high interest rates, usually in exchange for limited monthly transactions. A more conventional [savings bank account](https:\/\/www.chase.com\/personal\/savings\/savings-account) could come with a lower interest rate but more flexibility with withdrawals and deposits. A [certificate of deposit (CD) account](https:\/\/www.chase.com\/personal\/banking\/education\/basics\/define-certificate-of-deposit) may earn you even more interest, but most restrict you from withdrawing money for a certain period of time.\n\nWhen you link a checking and savings account, you may make it easier to factor savings into your budget. Recurring automatic transfers may give you the peace of mind that you're making payments on time, while saving towards your goals.\n\nSome employers may even let you divide your [direct deposit](https:\/\/www.chase.com\/personal\/banking\/education\/basics\/direct-deposit) payments into two or more accounts. With this method, you can determine how much to put in savings right from your paycheck.\n\n### 11\\. Save unexpected or extra money\nIf you’re fortunate enough to come into [unexpected money](https:\/\/www.chase.com\/personal\/credit-cards\/education\/credit-score\/how-to-handle-a-financial-windfall), be it from a bonus at work, tax refund or inheritance, consider setting it aside as savings to help you save more money in the long run. The more you put in a [savings account or CD](https:\/\/www.chase.com\/personal\/banking\/education\/budgeting-saving\/cd-vs-savings-account), the more you’ll benefit from [compounding interest](https:\/\/www.chase.com\/personal\/banking\/education\/budgeting-saving\/what-is-a-compound-interest-account).\n\n### 12\\. Pay off your debts\nSome forms of debt, such as credit card debt, may have higher interest rates than others, like student loans. Depending on your situation, you might choose to pay off high-interest debt first or to pay off your smallest debts first. Both strategies have their own benefits and drawbacks. Either way, strategically tackling monthly payments on your debt may free you up to save money in the long run.\n\n### 13\\. Set aside money for an emergency fund\nEmergency funds are essential since they may help you pay for critical goods and services when you might otherwise have to take on debt to afford them. An emergency fund supplies you with a financial cushion should something unforeseen happen; a general rule is to have enough to cover three to six months' worth of expenses. With an emergency fund, you may earn interest on your balance while taking comfort in your financial strength in the face of a crisis.\n\n### 14\\. Contribute to a retirement savings plan\nRetirement savings plans, such as an individual retirement account (IRA) or 401(k), may provide you with tax-advantaged ways of saving for retirement. Depending on the kind of retirement plan you choose, you can opt to either pay taxes on your contributions up-front or when you start to withdraw funds from these plans in retirement.\n\nEarly withdrawals from retirement plans may come with financial penalties, so it's important to understand all your options before withdrawing funds.\n\nEmployers might offer common plans, such as a 401(k) or 403(b) for certain public or nonprofit employers. Employer plans generally allow you to make contributions from pre-tax dollars directly from your paycheck. Your employer may even \"match\" your contributions up to a certain percentage of your paycheck.\n\n(401)k accounts use pretax income for long-term investments. Since your investment dollars aren’t taxed as income when you invest, you pay tax on what you withdraw instead. Roth IRAs, on the other hand, use post-tax income for investment funds. In this scenario, you’ve already paid taxes on the money you've saved.\n\n## Ready to save?\nSaving for the future may not be easy, especially during economic uncertainty, but it’s an essential part of any successful personal finance plan. The more you save, the more prepared you may be when the unexpected happens. Whether you’re new to saving or looking to adapt in the face of economic headwinds, it’s important to know your options.\n\nThese tips on how to save money are only the beginning. Reach out to a financial professional for more information about personal banking solutions and other tools to keep your savings on track.","meta_canonical":null}

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Meta Title	How to Save Money: 14 Tips \| Chase
Meta Description	Discovering how to save money doesn’t need to feel daunting. Consider these money-saving tips that may help increase your savings each month.
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Boilerpipe Text	Knowing how to save money each month may be a challenge. Although inflation and rising prices may make saving money more difficult, you may still be able to find ways to save. To save effectively, it’s important to have goals, a monthly budget and a plan to stay on track. Consider these tips to help you put more money away while staying on track with bills and necessary purchases. 14 ways to save money There are several ways to save money even in a tight economy. Some approaches rely on planning ahead to keep costs down, whereas others are a matter of knowing which financial tool to use at the right time. This article touches on each of these 14 tactics below: Set specific savings goals Create a monthly budget and stick to it Bring a shopping list to the store Try using cash for everyday purchases Know when to use a debit card or a credit card Review your subscriptions Switch your cell phone plan Reduce your electric bill Reduce your basic living costs Make the most out of your savings account Save unexpected or extra money Pay off your debts Set aside money for an emergency fund Contribute to a retirement savings plan 1. Set specific savings goals Building savings during a difficult economic period can be made tougher without a financial goal in mind. If you can anchor your savings efforts to a specific goal, such as a down payment on a new car or building your emergency fund , you may help motivate yourself to stay on track. Plus, if you have a specific number in mind for your goal, you may adjust your savings efforts to match it. This may help right-size the amount you want to set aside. 2. Create a monthly budget and stick to it Once you have specific financial goals in mind, it may be useful to set a budget to follow through on them. A monthly budget may help you better understand how your personal finance decisions affect your overall cash flow. By creating and sticking to a budget, you can track spending habits and potentially limit the number of impulse buys you make per month. A budget may help you avoid splurge purchases and track how much income you can put into savings every month. Consider using a budgeting app to help you automate your savings , understand your spending and reach your goals. 3. Bring a shopping list to the store Shopping lists are great at helping us remember what we need to buy, as well as helping us limit impulse purchases . Many retailers, including your local grocery store, are designed to encourage one-off or impulse purchases. Although one or two impulse purchases may not seem like a lot of money on their own, they may add up over time. Think of your shopping list as an extension of your budget: what you put on your list should be determined by your budgeting, keeping your budgeting on track in the process. 4. Try using cash for everyday purchases When you pay in cash, you’re better able to see the actual financial impact of your purchases in realtime. Credit cards, by contrast, may make overspending easier because they're not physical currency. If you bring cash with you to the store, you’re physically limited by how much you have on hand. This may help you stick to your budget and stay honest with your shopping list. 5. Know when to use a debit card or a credit card Using cash isn’t always feasible, of course. There are some transactions, either online or in cashless stores, that require a card. Using your debit card when cash isn’t an option may help you be more cognizant of your spending. A credit card may enable you to overspend since you’re charged once a month; debit cards, however, require you to have the funds on hand for the transaction to go through. Depending on your bank checking account, your card might be declined at the point of purchase if you don’t have enough funds. Alternatively, you might see the transaction go through if you have overdraft protection . These protections may come at a cost, though, by way of fees. When making online purchases, keep in mind that credit cards will generally have stronger fraud protections than debit cards. Using credit and debit cards in an informed way may help you stay on budget and protect your finances from fraudsters. 6. Review your subscriptions Subscription services, such as streaming services or publications, may eat away at your cash — often without you realizing it. Services that charge you monthly may go unnoticed, particularly if monthly fees are low. Over time, these small expenses may add up. If you subscribe to publications, services or entertainment platforms you don’t use often, consider canceling them. This may be an easy way to free up cash every month, particularly if you aren’t missing what they have to offer or have stopped using them. If you’re not sure canceling is the right option, consider downgrading your subscription to a less expensive option. There are a few ways you may identify and cancel subscriptions you no longer need. The first is by reviewing your bank or credit card statements. Some apps may help you keep track of and cancel subscriptions, but these may come with fees. 7. Switch your cell phone plan Cell phone service is an essential expense for most of us, although you don’t always have to pay a high price for good service. Some of the country’s largest networks are also the most expensive: these companies reinvest in new cell towers and other costs that make their way onto your monthly bill. Others may tout unparalleled service, charging you a premium in the process. If you want to lower your cell phone bill, there are a few options to consider. First, check with your provider to determine whether a lower-tier plan is available. Expensive unlimited data plans may not be ideal for people who only use a few gigabytes of data every month. If a lower-tier plan is not available, consider switching providers. Last, consider using secure Wi-Fi whenever possible. Safe Wi-Fi networks provide speed and flexibility with what you download and how much data you use. If you know you’ll usually be in areas where secure Wi-Fi is available, you may not need to buy a plan with a high data cap. 8. Reduce your electric bill Some electricity costs are unavoidable, but cutting back may go a long way in many places. Keeping your thermostat lower in the winter and higher in the summer may result in lower monthly bills. Smart meters may help you regulate when and how much air conditioning and heating you use as well. Some power companies and state governments offer incentives for going green. Your utility company may offer free or low-cost energy audits, which may help you create a more energy-efficient home. Lastly, try to turn off appliances when they’re not in use. Smart sockets may help you set timers that turn off appliances, lights and other energy-consuming appliances. 9. Reduce your basic living costs We may take living costs for granted: after all, studies have shown that “lifestyle creep” is a common phenomenon for many. It’s easy to spend more when you have more money. This doesn’t work as well when internal and external factors require you to scale back on life’s essentials. Depending on where you live, you may be able to afford a different lifestyle; when planning for the long term, consider a cost of living comparison . High-priced neighborhoods and cities may charge you a premium you could avoid by moving farther away. Be aware that this might also require you to spend more in other places, such as a monthly train ticket or gas for your car. If you own a home, car or both, you may want to refinance these loans at a lower rate. If you’re paying more than the average interest rate on a mortgage or auto loan , refinancing may save you money over time, while reducing your monthly payments. Take a close look at your insurance policies as well, as you may be overpaying for your coverage. Many providers offer a discount for bundling home and car insurance, which may save you money every month. 10. Make the most of your savings account Understanding the nuances of different types of bank accounts may help you save money in the long run. High-yield savings accounts offer high interest rates, usually in exchange for limited monthly transactions. A more conventional savings bank account could come with a lower interest rate but more flexibility with withdrawals and deposits. A certificate of deposit (CD) account may earn you even more interest, but most restrict you from withdrawing money for a certain period of time. When you link a checking and savings account, you may make it easier to factor savings into your budget. Recurring automatic transfers may give you the peace of mind that you're making payments on time, while saving towards your goals. Some employers may even let you divide your direct deposit payments into two or more accounts. With this method, you can determine how much to put in savings right from your paycheck. 11. Save unexpected or extra money If you’re fortunate enough to come into unexpected money , be it from a bonus at work, tax refund or inheritance, consider setting it aside as savings to help you save more money in the long run. The more you put in a savings account or CD , the more you’ll benefit from compounding interest . 12. Pay off your debts Some forms of debt, such as credit card debt, may have higher interest rates than others, like student loans. Depending on your situation, you might choose to pay off high-interest debt first or to pay off your smallest debts first. Both strategies have their own benefits and drawbacks. Either way, strategically tackling monthly payments on your debt may free you up to save money in the long run. 13. Set aside money for an emergency fund Emergency funds are essential since they may help you pay for critical goods and services when you might otherwise have to take on debt to afford them. An emergency fund supplies you with a financial cushion should something unforeseen happen; a general rule is to have enough to cover three to six months' worth of expenses. With an emergency fund, you may earn interest on your balance while taking comfort in your financial strength in the face of a crisis. 14. Contribute to a retirement savings plan Retirement savings plans, such as an individual retirement account (IRA) or 401(k), may provide you with tax-advantaged ways of saving for retirement. Depending on the kind of retirement plan you choose, you can opt to either pay taxes on your contributions up-front or when you start to withdraw funds from these plans in retirement. Early withdrawals from retirement plans may come with financial penalties, so it's important to understand all your options before withdrawing funds. Employers might offer common plans, such as a 401(k) or 403(b) for certain public or nonprofit employers. Employer plans generally allow you to make contributions from pre-tax dollars directly from your paycheck. Your employer may even "match" your contributions up to a certain percentage of your paycheck. (401)k accounts use pretax income for long-term investments. Since your investment dollars aren’t taxed as income when you invest, you pay tax on what you withdraw instead. Roth IRAs, on the other hand, use post-tax income for investment funds. In this scenario, you’ve already paid taxes on the money you've saved. Ready to save? Saving for the future may not be easy, especially during economic uncertainty, but it’s an essential part of any successful personal finance plan. The more you save, the more prepared you may be when the unexpected happens. Whether you’re new to saving or looking to adapt in the face of economic headwinds, it’s important to know your options. These tips on how to save money are only the beginning. Reach out to a financial professional for more information about personal banking solutions and other tools to keep your savings on track.
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[Education center](https://www.chase.com/personal/education) 2. [Personal banking](https://www.chase.com/personal/banking/education) 3. [Budgeting and saving](https://www.chase.com/personal/banking/education/budgeting-saving) # How to save money: 14 tips Time to read min ![](https://www.chase.com/content/services/rendition/image.medium.jpg/unified-assets/photography/articles/primary/banking/seo_how-to-save-money_040824.jpg) Knowing how to save money each month may be a challenge. Although [inflation](https://www.chase.com/personal/banking/education/basics/what-is-inflation) and rising prices may make saving money more difficult, you may still be able to find ways to save. To save effectively, it’s important to have goals, a monthly budget and a plan to stay on track. Consider these tips to help you put more money away while staying on track with bills and necessary purchases. ## 14 ways to save money There are several ways to save money even in a tight economy. Some approaches rely on planning ahead to keep costs down, whereas others are a matter of knowing which financial tool to use at the right time. This article touches on each of these 14 tactics below: - Set specific savings goals - Create a monthly budget and stick to it - Bring a shopping list to the store - Try using cash for everyday purchases - Know when to use a debit card or a credit card - Review your subscriptions - Switch your cell phone plan - Reduce your electric bill - Reduce your basic living costs - Make the most out of your savings account - Save unexpected or extra money - Pay off your debts - Set aside money for an emergency fund - Contribute to a retirement savings plan ### 1\. Set specific savings goals Building savings during a difficult economic period can be made tougher without a financial goal in mind. If you can anchor your savings efforts to a specific goal, such as a down payment on a [new car](https://www.chase.com/personal/banking/education/budgeting-saving/how-can-i-save-for-a-car) or building your [emergency fund](https://www.chase.com/personal/banking/education/budgeting-saving/how-much-should-i-have-in-emergency-fund), you may help motivate yourself to stay on track. Plus, if you have a specific number in mind for your goal, you may adjust your savings efforts to match it. This may help right-size the amount you want to set aside. ### 2\. Create a monthly budget and stick to it Once you have specific financial goals in mind, it may be useful to [set a budget](https://www.chase.com/personal/financial-goals/budget) to follow through on them. A monthly budget may help you better understand how your personal finance decisions affect your overall cash flow. By creating and sticking to a budget, you can track spending habits and potentially limit the number of impulse buys you make per month. A budget may help you avoid splurge purchases and track how much [income you can put into savings](https://www.chase.com/personal/banking/education/budgeting-saving/how-much-should-you-save-each-month) every month. Consider using a budgeting app to help you [automate your savings](https://www.chase.com/personal/checking/savings-program), understand your spending and reach your goals. ### 3\. Bring a shopping list to the store Shopping lists are great at helping us remember what we need to buy, as well as helping us [limit impulse purchases](https://www.chase.com/personal/banking/education/budgeting-saving/impulse-buy). Many retailers, including your local grocery store, are designed to encourage one-off or impulse purchases. Although one or two impulse purchases may not seem like a lot of money on their own, they may add up over time. Think of your shopping list as an extension of your budget: what you put on your list should be determined by your budgeting, keeping your budgeting on track in the process. ### 4\. Try using cash for everyday purchases When you pay in cash, you’re better able to see the actual financial impact of your purchases in realtime. Credit cards, by contrast, may make overspending easier because they're not physical currency. If you bring cash with you to the store, you’re physically limited by how much you have on hand. This may help you stick to your budget and stay honest with your shopping list. ### 5\. Know when to use a debit card or a credit card Using cash isn’t always feasible, of course. There are some transactions, either online or in cashless stores, that require a card. Using your debit card when cash isn’t an option may help you be more cognizant of your spending. A credit card may enable you to overspend since you’re charged once a month; debit cards, however, require you to have the funds on hand for the transaction to go through. Depending on your bank checking account, your card might be declined at the point of purchase if you don’t have enough funds. Alternatively, you might see the transaction go through if you have [overdraft protection](https://www.chase.com/personal/banking/education/basics/overdraft-protection). These protections may come at a cost, though, by way of fees. When making online purchases, keep in mind that credit cards will generally have stronger fraud protections than debit cards. Using credit and debit cards in an informed way may help you stay on budget and protect your finances from fraudsters. ### 6\. Review your subscriptions Subscription services, such as streaming services or publications, may eat away at your cash — often without you realizing it. Services that charge you monthly may go unnoticed, particularly if monthly fees are low. Over time, these small expenses may add up. If you subscribe to publications, services or entertainment platforms you don’t use often, consider canceling them. This may be an easy way to free up cash every month, particularly if you aren’t missing what they have to offer or have stopped using them. If you’re not sure canceling is the right option, consider downgrading your subscription to a less expensive option. There are a few ways you may identify and cancel subscriptions you no longer need. The first is by reviewing your bank or credit card statements. Some apps may help you keep track of and cancel subscriptions, but these may come with fees. ### 7\. Switch your cell phone plan Cell phone service is an essential expense for most of us, although you don’t always have to pay a high price for good service. Some of the country’s largest networks are also the most expensive: these companies reinvest in new cell towers and other costs that make their way onto your monthly bill. Others may tout unparalleled service, charging you a premium in the process. If you want to lower your cell phone bill, there are a few options to consider. First, check with your provider to determine whether a lower-tier plan is available. Expensive unlimited data plans may not be ideal for people who only use a few gigabytes of data every month. If a lower-tier plan is not available, consider switching providers. Last, consider using secure Wi-Fi whenever possible. Safe Wi-Fi networks provide speed and flexibility with what you download and how much data you use. If you know you’ll usually be in areas where secure Wi-Fi is available, you may not need to buy a plan with a high data cap. ### 8\. Reduce your electric bill Some electricity costs are unavoidable, but cutting back may go a long way in many places. Keeping your thermostat lower in the winter and higher in the summer may result in lower monthly bills. Smart meters may help you regulate when and how much air conditioning and heating you use as well. Some power companies and state governments offer incentives for going green. Your utility company may offer free or low-cost energy audits, which may help you create a more energy-efficient home. Lastly, try to turn off appliances when they’re not in use. Smart sockets may help you set timers that turn off appliances, lights and other energy-consuming appliances. ### 9\. Reduce your basic living costs We may take living costs for granted: after all, studies have shown that “lifestyle creep” is a common phenomenon for many. It’s easy to spend more when you have more money. This doesn’t work as well when internal and external factors require you to scale back on life’s essentials. Depending on where you live, you may be able to afford a different lifestyle; when planning for the long term, consider a [cost of living comparison](https://www.chase.com/personal/mortgage/education/buying-a-home/cost-of-living-what-to-consider-before-moving). High-priced neighborhoods and cities may charge you a premium you could avoid by moving farther away. Be aware that this might also require you to spend more in other places, such as a monthly train ticket or gas for your car. If you own a home, car or both, you may want to refinance these loans at a lower rate. If you’re paying more than the average interest rate on a [mortgage](https://www.chase.com/personal/mortgage/education/owning-a-home/refinance-your-home) or [auto loan](https://www.chase.com/personal/auto/education/financing/guide-to-refinancing-a-car-how-it-works), refinancing may save you money over time, while reducing your monthly payments. Take a close look at your insurance policies as well, as you may be overpaying for your coverage. Many providers offer a discount for bundling home and car insurance, which may save you money every month. ### 10\. Make the most of your savings account Understanding the nuances of different types of bank accounts may help you save money in the long run. High-yield savings accounts offer high interest rates, usually in exchange for limited monthly transactions. A more conventional [savings bank account](https://www.chase.com/personal/savings/savings-account) could come with a lower interest rate but more flexibility with withdrawals and deposits. A [certificate of deposit (CD) account](https://www.chase.com/personal/banking/education/basics/define-certificate-of-deposit) may earn you even more interest, but most restrict you from withdrawing money for a certain period of time. When you link a checking and savings account, you may make it easier to factor savings into your budget. Recurring automatic transfers may give you the peace of mind that you're making payments on time, while saving towards your goals. Some employers may even let you divide your [direct deposit](https://www.chase.com/personal/banking/education/basics/direct-deposit) payments into two or more accounts. With this method, you can determine how much to put in savings right from your paycheck. ### 11\. Save unexpected or extra money If you’re fortunate enough to come into [unexpected money](https://www.chase.com/personal/credit-cards/education/credit-score/how-to-handle-a-financial-windfall), be it from a bonus at work, tax refund or inheritance, consider setting it aside as savings to help you save more money in the long run. The more you put in a [savings account or CD](https://www.chase.com/personal/banking/education/budgeting-saving/cd-vs-savings-account), the more you’ll benefit from [compounding interest](https://www.chase.com/personal/banking/education/budgeting-saving/what-is-a-compound-interest-account). ### 12\. Pay off your debts Some forms of debt, such as credit card debt, may have higher interest rates than others, like student loans. Depending on your situation, you might choose to pay off high-interest debt first or to pay off your smallest debts first. Both strategies have their own benefits and drawbacks. Either way, strategically tackling monthly payments on your debt may free you up to save money in the long run. ### 13\. Set aside money for an emergency fund Emergency funds are essential since they may help you pay for critical goods and services when you might otherwise have to take on debt to afford them. An emergency fund supplies you with a financial cushion should something unforeseen happen; a general rule is to have enough to cover three to six months' worth of expenses. With an emergency fund, you may earn interest on your balance while taking comfort in your financial strength in the face of a crisis. ### 14\. Contribute to a retirement savings plan Retirement savings plans, such as an individual retirement account (IRA) or 401(k), may provide you with tax-advantaged ways of saving for retirement. Depending on the kind of retirement plan you choose, you can opt to either pay taxes on your contributions up-front or when you start to withdraw funds from these plans in retirement. Early withdrawals from retirement plans may come with financial penalties, so it's important to understand all your options before withdrawing funds. Employers might offer common plans, such as a 401(k) or 403(b) for certain public or nonprofit employers. Employer plans generally allow you to make contributions from pre-tax dollars directly from your paycheck. Your employer may even "match" your contributions up to a certain percentage of your paycheck. (401)k accounts use pretax income for long-term investments. Since your investment dollars aren’t taxed as income when you invest, you pay tax on what you withdraw instead. Roth IRAs, on the other hand, use post-tax income for investment funds. In this scenario, you’ve already paid taxes on the money you've saved. ## Ready to save? Saving for the future may not be easy, especially during economic uncertainty, but it’s an essential part of any successful personal finance plan. The more you save, the more prepared you may be when the unexpected happens. Whether you’re new to saving or looking to adapt in the face of economic headwinds, it’s important to know your options. These tips on how to save money are only the beginning. Reach out to a financial professional for more information about personal banking solutions and other tools to keep your savings on track. [Find a savings account](https://personal.chase.com/personal/savings) [Open a CD account](https://www.chase.com/personal/savings/bank-cd) * Topics: - [budgeting](https://www.chase.com/personal/banking/education/topic-page?tagname=budgeting&tagtitle=budgeting&articleName=budgeting) ## What to read next * - [Creating a household budget ![](https://www.chase.com/content/services/rendition/image.medium.jpg/unified-assets/photography/articles/education-center/banking/budgeting-saving/seo-household-budgeting.jpg)](https://www.chase.com/personal/banking/education/budgeting-saving/household-budgeting) A household budget provides a roadmap for spending, saving and paying down debt. Learn how to create a budget that works for you and your family [ContinueCreating a household budget](https://www.chase.com/personal/banking/education/budgeting-saving/household-budgeting) - [Tips for managing and paying off student loan debt ![](https://www.chase.com/content/services/rendition/image.medium.jpg/unified-assets/photography/articles/education-center/banking/budgeting-saving/seo-how-to-pay-off-student-loans.jpg)](https://www.chase.com/personal/banking/education/budgeting-saving/how-to-pay-off-student-loans) With different ways to pay off student loan debt, what are your options? Let’s dive into repayment plans, income-based options and what may be the quickest. [ContinueTips for managing and paying off student loan debt](https://www.chase.com/personal/banking/education/budgeting-saving/how-to-pay-off-student-loans) - [Budgeting for your short- and long-term plans ![](https://www.chase.com/content/services/rendition/image.medium.jpg/unified-assets/photography/articles/education-center/banking/budgeting-saving/seo-short-and-long-term-plans.jpg)](https://www.chase.com/personal/banking/education/budgeting-saving/short-and-long-term-plans) Learn more about how effective budgeting may help you achieve both immediate goals and long-term financial aspirations. [ContinueBudgeting for your short- and long-term plans](https://www.chase.com/personal/banking/education/budgeting-saving/short-and-long-term-plans) - [How to financially prepare for divorce ![](https://www.chase.com/content/services/rendition/image.medium.jpg/unified-assets/photography/articles/education-center/banking/budgeting-saving/seo-divorce-financial-preparation.jpg)](https://www.chase.com/personal/banking/education/budgeting-saving/divorce-financial-preparation) Learn more about the ways you can financially prepare for divorce, common mistakes to avoid and considerations when creating your post-divorce budget [ContinueHow to financially prepare for divorce](https://www.chase.com/personal/banking/education/budgeting-saving/divorce-financial-preparation) - 1 - 2 - 3 * For Informational/Educational Purposes Only: The opinions expressed in this article may differ from other employees and departments of JPMorgan Chase & Co. Opinions and strategies described may not be appropriate for everyone, and are not intended as specific advice/recommendation for any individual. You should carefully consider your needs and objectives before making any decisions, and consult the appropriate professional(s). Outlooks and past performance are not guarantees of future results. JPMorgan Chase Bank, N.A. Member FDIC J.P. Morgan Wealth Management is a business of JPMorgan Chase & Co., which offers investment products and services through J.P. Morgan Securities LLC (JPMS), a registered broker-dealer and investment adviser, member FINRA and SIPC. Insurance products are made available through Chase Insurance Agency, Inc. (CIA), a licensed insurance agency, doing business as Chase Insurance Agency Services, Inc. in Florida. Certain custody and other services are provided by JPMorgan Chase Bank, N.A. (JPMCB). JPMS, CIA and JPMCB are affiliated companies under the common control of JPMorgan Chase & Co. 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Readable Markdown	Knowing how to save money each month may be a challenge. Although [inflation](https://www.chase.com/personal/banking/education/basics/what-is-inflation) and rising prices may make saving money more difficult, you may still be able to find ways to save. To save effectively, it’s important to have goals, a monthly budget and a plan to stay on track. Consider these tips to help you put more money away while staying on track with bills and necessary purchases. ## 14 ways to save money There are several ways to save money even in a tight economy. Some approaches rely on planning ahead to keep costs down, whereas others are a matter of knowing which financial tool to use at the right time. This article touches on each of these 14 tactics below: Set specific savings goals Create a monthly budget and stick to it Bring a shopping list to the store Try using cash for everyday purchases Know when to use a debit card or a credit card Review your subscriptions Switch your cell phone plan Reduce your electric bill Reduce your basic living costs Make the most out of your savings account Save unexpected or extra money Pay off your debts Set aside money for an emergency fund Contribute to a retirement savings plan ### 1\. Set specific savings goals Building savings during a difficult economic period can be made tougher without a financial goal in mind. If you can anchor your savings efforts to a specific goal, such as a down payment on a [new car](https://www.chase.com/personal/banking/education/budgeting-saving/how-can-i-save-for-a-car) or building your [emergency fund](https://www.chase.com/personal/banking/education/budgeting-saving/how-much-should-i-have-in-emergency-fund), you may help motivate yourself to stay on track. Plus, if you have a specific number in mind for your goal, you may adjust your savings efforts to match it. This may help right-size the amount you want to set aside. ### 2\. Create a monthly budget and stick to it Once you have specific financial goals in mind, it may be useful to [set a budget](https://www.chase.com/personal/financial-goals/budget) to follow through on them. A monthly budget may help you better understand how your personal finance decisions affect your overall cash flow. By creating and sticking to a budget, you can track spending habits and potentially limit the number of impulse buys you make per month. A budget may help you avoid splurge purchases and track how much [income you can put into savings](https://www.chase.com/personal/banking/education/budgeting-saving/how-much-should-you-save-each-month) every month. Consider using a budgeting app to help you [automate your savings](https://www.chase.com/personal/checking/savings-program), understand your spending and reach your goals. ### 3\. Bring a shopping list to the store Shopping lists are great at helping us remember what we need to buy, as well as helping us [limit impulse purchases](https://www.chase.com/personal/banking/education/budgeting-saving/impulse-buy). Many retailers, including your local grocery store, are designed to encourage one-off or impulse purchases. Although one or two impulse purchases may not seem like a lot of money on their own, they may add up over time. Think of your shopping list as an extension of your budget: what you put on your list should be determined by your budgeting, keeping your budgeting on track in the process. ### 4\. Try using cash for everyday purchases When you pay in cash, you’re better able to see the actual financial impact of your purchases in realtime. Credit cards, by contrast, may make overspending easier because they're not physical currency. If you bring cash with you to the store, you’re physically limited by how much you have on hand. This may help you stick to your budget and stay honest with your shopping list. ### 5\. Know when to use a debit card or a credit card Using cash isn’t always feasible, of course. There are some transactions, either online or in cashless stores, that require a card. Using your debit card when cash isn’t an option may help you be more cognizant of your spending. A credit card may enable you to overspend since you’re charged once a month; debit cards, however, require you to have the funds on hand for the transaction to go through. Depending on your bank checking account, your card might be declined at the point of purchase if you don’t have enough funds. Alternatively, you might see the transaction go through if you have [overdraft protection](https://www.chase.com/personal/banking/education/basics/overdraft-protection). These protections may come at a cost, though, by way of fees. When making online purchases, keep in mind that credit cards will generally have stronger fraud protections than debit cards. Using credit and debit cards in an informed way may help you stay on budget and protect your finances from fraudsters. ### 6\. Review your subscriptions Subscription services, such as streaming services or publications, may eat away at your cash — often without you realizing it. Services that charge you monthly may go unnoticed, particularly if monthly fees are low. Over time, these small expenses may add up. If you subscribe to publications, services or entertainment platforms you don’t use often, consider canceling them. This may be an easy way to free up cash every month, particularly if you aren’t missing what they have to offer or have stopped using them. If you’re not sure canceling is the right option, consider downgrading your subscription to a less expensive option. There are a few ways you may identify and cancel subscriptions you no longer need. The first is by reviewing your bank or credit card statements. Some apps may help you keep track of and cancel subscriptions, but these may come with fees. ### 7\. Switch your cell phone plan Cell phone service is an essential expense for most of us, although you don’t always have to pay a high price for good service. Some of the country’s largest networks are also the most expensive: these companies reinvest in new cell towers and other costs that make their way onto your monthly bill. Others may tout unparalleled service, charging you a premium in the process. If you want to lower your cell phone bill, there are a few options to consider. First, check with your provider to determine whether a lower-tier plan is available. Expensive unlimited data plans may not be ideal for people who only use a few gigabytes of data every month. If a lower-tier plan is not available, consider switching providers. Last, consider using secure Wi-Fi whenever possible. Safe Wi-Fi networks provide speed and flexibility with what you download and how much data you use. If you know you’ll usually be in areas where secure Wi-Fi is available, you may not need to buy a plan with a high data cap. ### 8\. Reduce your electric bill Some electricity costs are unavoidable, but cutting back may go a long way in many places. Keeping your thermostat lower in the winter and higher in the summer may result in lower monthly bills. Smart meters may help you regulate when and how much air conditioning and heating you use as well. Some power companies and state governments offer incentives for going green. Your utility company may offer free or low-cost energy audits, which may help you create a more energy-efficient home. Lastly, try to turn off appliances when they’re not in use. Smart sockets may help you set timers that turn off appliances, lights and other energy-consuming appliances. ### 9\. Reduce your basic living costs We may take living costs for granted: after all, studies have shown that “lifestyle creep” is a common phenomenon for many. It’s easy to spend more when you have more money. This doesn’t work as well when internal and external factors require you to scale back on life’s essentials. Depending on where you live, you may be able to afford a different lifestyle; when planning for the long term, consider a [cost of living comparison](https://www.chase.com/personal/mortgage/education/buying-a-home/cost-of-living-what-to-consider-before-moving). High-priced neighborhoods and cities may charge you a premium you could avoid by moving farther away. Be aware that this might also require you to spend more in other places, such as a monthly train ticket or gas for your car. If you own a home, car or both, you may want to refinance these loans at a lower rate. If you’re paying more than the average interest rate on a [mortgage](https://www.chase.com/personal/mortgage/education/owning-a-home/refinance-your-home) or [auto loan](https://www.chase.com/personal/auto/education/financing/guide-to-refinancing-a-car-how-it-works), refinancing may save you money over time, while reducing your monthly payments. Take a close look at your insurance policies as well, as you may be overpaying for your coverage. Many providers offer a discount for bundling home and car insurance, which may save you money every month. ### 10\. Make the most of your savings account Understanding the nuances of different types of bank accounts may help you save money in the long run. High-yield savings accounts offer high interest rates, usually in exchange for limited monthly transactions. A more conventional [savings bank account](https://www.chase.com/personal/savings/savings-account) could come with a lower interest rate but more flexibility with withdrawals and deposits. A [certificate of deposit (CD) account](https://www.chase.com/personal/banking/education/basics/define-certificate-of-deposit) may earn you even more interest, but most restrict you from withdrawing money for a certain period of time. When you link a checking and savings account, you may make it easier to factor savings into your budget. Recurring automatic transfers may give you the peace of mind that you're making payments on time, while saving towards your goals. Some employers may even let you divide your [direct deposit](https://www.chase.com/personal/banking/education/basics/direct-deposit) payments into two or more accounts. With this method, you can determine how much to put in savings right from your paycheck. ### 11\. Save unexpected or extra money If you’re fortunate enough to come into [unexpected money](https://www.chase.com/personal/credit-cards/education/credit-score/how-to-handle-a-financial-windfall), be it from a bonus at work, tax refund or inheritance, consider setting it aside as savings to help you save more money in the long run. The more you put in a [savings account or CD](https://www.chase.com/personal/banking/education/budgeting-saving/cd-vs-savings-account), the more you’ll benefit from [compounding interest](https://www.chase.com/personal/banking/education/budgeting-saving/what-is-a-compound-interest-account). ### 12\. Pay off your debts Some forms of debt, such as credit card debt, may have higher interest rates than others, like student loans. Depending on your situation, you might choose to pay off high-interest debt first or to pay off your smallest debts first. Both strategies have their own benefits and drawbacks. Either way, strategically tackling monthly payments on your debt may free you up to save money in the long run. ### 13\. Set aside money for an emergency fund Emergency funds are essential since they may help you pay for critical goods and services when you might otherwise have to take on debt to afford them. An emergency fund supplies you with a financial cushion should something unforeseen happen; a general rule is to have enough to cover three to six months' worth of expenses. With an emergency fund, you may earn interest on your balance while taking comfort in your financial strength in the face of a crisis. ### 14\. Contribute to a retirement savings plan Retirement savings plans, such as an individual retirement account (IRA) or 401(k), may provide you with tax-advantaged ways of saving for retirement. Depending on the kind of retirement plan you choose, you can opt to either pay taxes on your contributions up-front or when you start to withdraw funds from these plans in retirement. Early withdrawals from retirement plans may come with financial penalties, so it's important to understand all your options before withdrawing funds. Employers might offer common plans, such as a 401(k) or 403(b) for certain public or nonprofit employers. Employer plans generally allow you to make contributions from pre-tax dollars directly from your paycheck. Your employer may even "match" your contributions up to a certain percentage of your paycheck. (401)k accounts use pretax income for long-term investments. Since your investment dollars aren’t taxed as income when you invest, you pay tax on what you withdraw instead. Roth IRAs, on the other hand, use post-tax income for investment funds. In this scenario, you’ve already paid taxes on the money you've saved. ## Ready to save? Saving for the future may not be easy, especially during economic uncertainty, but it’s an essential part of any successful personal finance plan. The more you save, the more prepared you may be when the unexpected happens. Whether you’re new to saving or looking to adapt in the face of economic headwinds, it’s important to know your options. These tips on how to save money are only the beginning. Reach out to a financial professional for more information about personal banking solutions and other tools to keep your savings on track.
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