Whatever your financial goals might be for 2020, saving up for a car, taking that special trip, or reducing your debt, the saving up part of the equation might seem the most daunting. But that’s where Frollo comes in to help you reach your goals. Check out these tips for great ways to save in 2020.
Know where you’re at so you can plan for where you want to be
Do you know how much you earn and how much you have left over at the end of the month? How much you spend on groceries or going out? Frollo makes this easy to understand, giving you insights about your money and what you spend it on. As you use the app over time, Frollo learns your habits and helps you identify opportunities to save money. By having all your accounts in one dashboard you’ll soon see ways to cut back on spending and start saving.
Save on pay day, even a small amount will soon add up
Once you understand where you’re spending money, and where you can cut back, it’s easier to start saving for your goals. The best way to do this is to set aside an amount (however small) as soon as you get paid. This works much better than saving whatever you have left at the end of the month, or trying to save irregularly with larger amounts. Even small amounts add up quickly over time and you’ll soon see your savings grow.
Set mini goals and challenges
Bring your own lunch to work instead of buying. Walk or take public transport. Host a dinner party at home instead of going to that new restaurant. Drop the coffee shop. A few small changes each week can add up to thousands of dollars a year.
Compare and save
Frollo shows you quickly and easily how much you’re spending on energy bills, credit cards, or insurance payments, So why not start the year with an easy win and take advantage of all the online comparison sites to see if you could save money on these regular expenses.
Find your squad and share your goals
Surround yourself with a community of people trying to achieve similar savings goals. Sharing your goals with friends will increase your chances of success. Learn from one another, support one another, and keep your savings goals front-of-mind.
Download and use our free money management app to save in 2020.