Save an Extra $1,000 This Year

Now that January has passed and we’re one month into 2011, it’s a great time to evaluate how your New Year’s saving plan is going. If your bank account isn’t where you wanted it to be by this time, read on to find out how save an extra $1,000 this year.

As of Feb. 1, there are 334 days left in 2011. A little easy math reveals that setting aside $3 a day for the rest of the year will total $1,002 by the end of 2011. Here are 10 money-saving tips to help you save $3 a day:

1.       Skip the coffee shop before work.  Instead, make coffee and breakfast before you head out the door.

2.       Read magazines online or at the library instead of buying a copy in the check-out lane.

3.       Bring your lunch to work. Packing your lunch with last night’s leftovers makes your dollars go even farther.

4.       Cancel your gym membership.  Find ways to exercise at home or go for a walk outside.

5.       On your next trip to the grocery store, save money by comparing prices and buying generic brands instead of name brands.

6.       Make handmade cards or baked goods for friends and relatives celebrating birthdays or special occasions instead of buying cards and gifts.

7.       Take advantage of coupons provided in your local newspaper or by third-party online coupon providers.

8.       Rent a movie to watch with your family at home instead of hitting up the theater.

9.       Find someone at work to carpool with. With gas prices continuing to climb, this could save you a lot more than $3 a day!

10.   Clean out your closets. Take clothes your family no longer wears to a consignment shop that will give you a cut of the profits.

 These money-saving tips are provided by Iowa State Bank in partnership with the Iowa Bankers Association. If you have specific questions about the use of credit, contact your local banker at Iowa State Bank. Iowa State Bank is an Equal Opportunity Lender. Member FDIC.

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