Treasurer Curtis Loftis with Tips to Help You Save

Treasurer Curtis Loftis understands the importance of saving money, and wants South Carolinians to know that there are some easy things you can do that will help save more money in the long run.

Savings Jar

“There are a number of simple steps just about anyone can use to boost their savings,” Treasurer Loftis says. “They require some planning and discipline, but they make sense and can show results quickly.”

A recent Forbes article shows that saving money is not something Americans should take lightly. “57% of Americans have less than $1,000 in a savings account, found a recent GOBankingRates survey.”

Treasurer Loftis wants South Carolinians to know some practical and easy strategies they can use to save money. Check out these 5 ways that Forbes says you should start using to save money more regularly.

Set up direct deposit.

Automating how your paycheck is deposited allows you the option of splitting your deposits between checking and savings accounts. This enables you to automatically put aside money in a savings account and still use the remainder to pay existing bills.

Take advantage of promotional offers and coupons.

Couponing can really make a big impact on your savings over time. Even taking a casual approach to couponing can save $25 a week, according to Mark Mazza who is the cofounder and CEO of PromoCodeWatch, a site that provides online coupons, promo codes and discounts.

Buy in bulk whenever possible.

The cost difference between buying food and other essentials at a brand-name grocery store and big-box retailers can be significant, more than $100 a month.

Cook meals in bulk.

One financial expert says one of the best methods to cut food-related expenses is to load up on sale items at the beginning of the month and then prepare meals in bulk all at once, storing them in the freezer. Eating out 20 times would be at least $200, and quite possibly much more.

Keep tabs on investment charges.

It’s great to be investing your money, but be sure to avoid hidden or overlooked fees. Expense ratios on mutual funds, for example, can vary widely.

Forbes says that these “five strategies can help you save more than $1,000 in the short term and boost your savings rate over the long haul.”

“Having financial goals is important, and these strategies are going to help you reach your goals,” Treasurer Loftis added. “I want everyone to live a financially balanced life, and it’s important to make sure you stay on track with finances. 

See the full article from Forbes: 5 Practical Ways To Save Over $1,000 By The End Of 2017