National Savings Day | GOBankingRates

October 12th

Day 01

Get as much pleasure out of saving as you do spending.
Suze Orman

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Day 02

Carve out what your ideal financial life looks like.
Nischa

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Day 03

If you are not consuming what you buy and it is spoiling or expiring before you can finish, you might be throwing money in the trash.
Naoko McKelvey, CFP and senior financial advisor at Blue Chip Partners

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Day 04

Create and follow a zero-based budget.
Rachel Cruze

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Day 05

The absolute dollar amount you have saved is less impactful than the financial habits you are forming.
Curtis Congdon, president at XML Financial Group

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Day 06

Automate. Automate. Automate.
Tori Dunlap

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Day 07

Make note of any sales for your favorite retailers and save your shopping trip until then.
Rebecca Gramuglia, former consumer expert at TopCashback

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Day 08

The one thing that every single person needs is an emergency savings account.
Suze Orman

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Day 09

Look for opportunities to get high interest rates on the cash you have on hand at financial institutions to minimize inflation on your cash savings.
Bola Sukunbi

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Day 10

If you spend the way everyone else does, you’re never going to have the wealth few people have.
Jaspreet Singh

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Stress-Free Saving Zone!

Capital One and GOBankingRates bring you peace of mind this National Savings Day.
Learn to save without the stress and secure your tomorrow.

BUDGETING BASICS

How To Save Money in Every Economy

Since 2020, the U.S. economy has experienced record-high stock market returns, a global pandemic, a short but incredibly sharp recession, skyrocketing inflation and now, the highest interest rates since the 1990s. So it’s understandable if you’re struggling to save money and worried about protecting what you have. Check Out: 5 Ways To Elevate Your Finances DailyLearn: How To Get Cash Back on Your Everyday Purchases Even though the events of the past three years might have left your head spinning, they’re part of an established economic cycle. From bull and bear markets to financial crises and recessions, these situations will…

By Casey Bond

on October 12, 2023

Grant Cardone Swears by the 40/40/20 Rule: ‘I Guarantee You’ll Create Wealth for Yourself’

You may be familiar with the 50/30/20 rule, the classic budgeting rule that mandates that you should spend 50% of your income on needs, 30% on wants and put 20% into savings. But Grant Cardone, author of the upcoming book “The Wealth Creation Formula,” suggests an alternative ratio that’s better suited to building wealth. Read Next: 6 Ways To Build Wealth in Less Than Five YearsLearn More: 6 Genius Things All Wealthy People Do With Their Money Here’s why Cardone swears by the 40/40/20 rule. What Is Grant Cardone’s 40/40/20 Rule? Cardone’s 40/40/20 rule is part of his overall wealth…

Mandatory Credit: Photo by Mark Humphrey/AP/Shutterstock (6378435j)Dave Ramsey Financial talk show host Dave Ramsey works in his broadcast studio in Brentwood, Tenn.

Dave Ramsey: 10 Budgeting Myths That Are Costing You Money

Personal finance expert Dave Ramsey is familiar with all types of financial myths. He has debunked retirement myths and myths about money only poor people believe are true. Now, he’s taking a closer look at the top budgeting myths on his website Ramsey Solutions. From thinking you don’t have time to budget to finding a budget to be too restrictive, here are the 10 budgeting myths that are costing you money. Growing Up Poor: 8 Things I Never Waste Money OnFind Out: How To Get Cash Back on Your Everyday Purchases 1. I Don’t Have Enough Time To Budget One…

5 Ways To Alter the 50/30/20 Rule To Suit Your Savings Plan

Ask anyone and they’ll tell you budgeting isn’t the funnest activity in the world. But it doesn’t have to be complicated, either. The 50/20/30 budgeting rule is a popular system to help you set aside money into three broad spending categories. Check Out: 5 Ways To Elevate Your Finances DailyRead: How To Get Cash Back on Your Everyday Purchases In sum, the guideline recommends spending 50% on needs, 30% on discretionary expenditure, and 20% on savings and debt repayment. But customization is the key to making this rule work, said Jeff Mains, a finance specialist and CEO of Champion Leadership…

BUILDING HABITS

Shot of a couple using a laptop while going through paperwork at home.

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5 Daily Habits That Elevate Your Finances

If you truly want to elevate your finances, the basics aren’t going to cut it. You need to take the extra steps to spend smarter, save more and earn more. Thankfully, getting started is the biggest hurdle. Once you have started elevating your finances, good daily financial habits will become second nature. Be Aware: 10 Expenses Most Likely To Drain Your Checking Account Each MonthTry This: How To Get $340 Per Year in Cash Back on Gas and Other Things You Already Buy Saving money can often feel challenging to fit into your budget. It requires developing good savings habits,…

By Gary Dudak

on September 26, 2023

Growing Up Poor: 8 Things I Never Waste Money On

Poverty in America has increased in the past few years. According to the U.S. Census Bureau’s Supplemental Poverty Measure (SPM), in 2022, 12.4% of Americans lived in poverty, up from 7.8% in 2021. The official poverty rate, which doesn’t include taxes paid, placed the number of Americans living in poverty at 37.9 million in 2022. And SPM child poverty rate more than doubled, to 12.4% in 2022, from 5.2% in 2021, according to the data. I’m a Financial Expert: Always Buy the Cheapest Version of These 10 ThingsDiscover: 3 Things You Must Do When Your Savings Reach $50,000 In terms…

A couple smiles as they over their finances and work on their laptop.

7 Tiny Ways To Save Money Daily That Build Savings Surprisingly Fast

While necessary, saving money, budgeting and planning might seem daunting to some people. But making smaller plans, breaking the task into bite-size pieces and finding daily ways to save small amounts also works– and surprisingly, these savings might add up fast. Read: Check Your $2 Bills — They Could Be Worth Upwards of $4,500Find Out: How To Save $200 on Your Grocery Bill Every Month “Remember, the key is consistency,” said Seth Diener, private wealth manager at Diener Money Management. “While each individual action might save only a small amount, the cumulative effect of practicing these habits over time can…

Man and woman preparing delicious vegetable meal, everything is so green, healthy and freshly harvested from garden.

8 Frugal Habits of the Past To Save Money Today

If there’s one thing our society has gotten better at over the centuries, it’s spending money. We have an abundance of purchasable options — and thanks to mega retailers like Amazon, our options increase seemingly every day, if not more often. It’s time to look back in time and heed the wisdom of our ancestors, both distant and near. What frugal habits did they embrace? How can they still help us save money today? See More: 10 Frugal Money Habits Helping Gen Z Save MoneyLearn: How To Get Cash Back on Your Everyday Purchases Let’s explore some. You’ll find that…

LUXURY LIVING

10 Little Luxuries That Are Worth Breaking Your Frugal Habits For

Saving money is essential, because you always want to have some funds set aside just in case — and so that you have money to invest in your retirement. Embracing frugality could help you save more money so you’re prepared for whatever life throws at you. Discover More: 10 Things Frugal People Always Buy at Yard Sales To Save Money Learn More: How To Get $340 Per Year in Cash Back on Gas and Other Things You Already Buy However, there are times when frugality could end up costing you. Some purchases are worth the cost, because they’ll improve the…

By Martin Dasko

on October 24, 2023

5 Frugal Habits Wealthy People Don’t Bother With

Is a penny saved really a penny earned? Many wealthy people don’t believe so. Instead of using common frugal habits to save a little money here and there, they take a different approach. On the surface, it might seem they’re missing savings opportunities or being cavalier with their money, but there’s often more to it. Find Out: 5 Ways To Elevate Your Finances DailyLearn: What To Do If You Owe Back Taxes to the IRS The Wealth Mindset “For individuals with significant financial resources, the pursuit of minor savings through tactics like using cash-back apps or driving farther for cheaper…

A multiracial husband and wife are planning budget and smiling at each other while holding documents, paperwork, bills, and savings and calculating them on the phone.

9 Key Signs You’ve Mastered the Savings Game, According to Experts

Saving money consistently — and starting early — is crucial to financial planning. It stands to have a big impact on not only your peace of mind, but also your future. While there’s a lot of public advice and countless ways to set money aside, how will you know if you finally mastered the savings game? GOBankingRates spoke with experts, who outlined some key signs showing that you are saving money wisely for long-term success. 1. You Have a Goals-Driven Budget First, some experts said that saving for the sake of saving, or because you know you should, doesn’t work…

Woman smiling while looking at her phone

I’m a Self-Made Millionaire: These Are the 6 Money-Saving Rules I Broke To Get Rich

Self-made millionaires have a few things in common: patience, discipline, being methodical, having great ideas and sometimes turning them into great businesses. And some of them also broke some money savings rules to achieve this financial milestone. Read More: 7 Ways the Upper Middle Class Can Become Rich in 2024Check Out: How Far a $100,000 Salary Goes in America’s 50 Largest Cities GOBankingRates spoke to a few of them who explained how breaking these money-saving rules helped them build their wealth. Don’t Fixate On Budgeting Joe Camberato, CEO of NationalBusinessCapital, became a self-made millionaire in his 30s thanks to hard…

The ‘One Hour’ Savings Rule: David Bach Says It’s the Only ‘Proven, Easy Way To Get Rich’

By Heather Taylor

Growing Up Poor: 13 Ways You’re Taught To Never Waste Money

By Elizabeth Constantineau, AI Editor

Grant Cardone Shares His Unconventional Savings Advice: ‘The Goal Is Not To Have 3 Months of Savings’

By Gabrielle Olya

I Saved $10,000 in One Month: Here’s How You Can Do It, Too

By Jake Safane

9 Frugal Habits Dave Ramsey Swears By

By Cynthia Measom

Foster Financial Independence in Your Children

Dive into various stages of life and how they impact our financial decisions with special guest Bobbi Rebell.

A woman smiles and looks happy as she sits in front of her laptop.

The Best Way To Save Money at Every Age

By Yaël Bizouati-Kennedy

on September 28, 2023

Catch Up on These Popular Saving Stories

I Paid for Everything With Cash for Months: Here’s What I Learned

5 Frugal Money Habits Americans Can Learn From Other Countries

I’m a Financial Planning Expert: Here’s How Much Money Boomers Should Have in Their Savings Accounts

6 Frugal Habits You’ll Actually Enjoy: Have Fun and Save Money

Money Expert Jaspreet Singh’s Unconventional Savings Tip: ‘Do Something That Most People Are Not Doing’

Self-Made Millionaire Lucy Guo: 5 Ways I Live Frugally

Strategies to Keep Your Money Safe

Protect your finances from fraud, scams and identity theft. Discover tips and advice designed to prepare you for red flags that pop up when dealing with different financial situations.

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