Saving money passively means setting up systems to grow your savings automatically, without needing to think about it daily. Here’s how you can do it:
Frequent Flyer Miles: Rather than letting your miles go unused, consider turning them into upgrades, gift cards, or even cash. If you're not planning to travel soon, these miles can be a fantastic way to save for future purchases or to treat yourself later! This way, your rewards continue to work for you, helping build savings and offer extra value when you need it.
Set Up Automatic Transfers: Move a small amount of money from your main account to your savings account every week or month. Even $10 a week adds up to over $500 in a year!
Save Spare Change Digitally: Apps like Acorns or similar tools round up your purchases to the nearest dollar and save the difference. For example, if you buy something for $4.50, $0.50 goes into savings.
Earn Rewards for Spending: Use reward programs that give cashback or points, then save the rewards instead of spending them.
Don’t Spend Windfalls: Got birthday money or cash from a part-time job? Save at least half before spending the rest.
Small actions over time make a big difference. The earlier you start, the more time your savings have to grow. Automating your savings is like planting a tree—give it time, and it will grow strong. Try it, and watch your money work for you!
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