7 Simple Ways to Start a Savings Habit

Last updated Dec 14, 2020 | By FinanceBuzz Editors
Dosh vs. Ibotta: Which Cashback App Will Save You More?

FinanceBuzz is reader-supported. We may receive compensation from the products and services mentioned in this story, but the opinions are the author's own. Compensation may impact where offers appear. We have not included all available products or offers. Learn more about how we make money and our editorial policies.

Having a huge savings account to fall back on feels wonderful. Is it easy to get there? Not always — but it’s worth it. So how can you make it easier to save?

Whether you’re looking to buy a house, launch a new business, or just want that extra financial safety net, starting a savings habit is key. By starting now, you can easily build financial security over the long term. 

The best part? Starting a savings habit is easier than you might think. In many cases, you don’t even have to give up the things you love. Below, you’ll find 7 simple ways to start a savings habit. Start today, and you’ll thank yourself for years to come! 

Get $5 to start investing in Apple, Amazon, and other companies

A smart investing strategy is key to building your savings. Even if you don't have lot of money to invest, you don't have to let that stop you — you can start investing with $5 or less.

Stash was built to help beginner investors get started. You can buy fractional shares (partial shares) in companies that are household names like Apple, Google, Amazon, and more4. Normally a single share of these companies could cost hundreds or even thousands of dollars, but you only need as little as $5 to get started with Stash.

If you're thinking about saving for retirement, you can start investing in an IRA and enjoy the tax benefits that come with retirement accounts. Stash also offers tools and guidance to help you along the way and you can use the Stash app to track your investments from anywhere.

As a bonus, Stash will give you $5 to invest after you deposit $5 or more into your personal portfolio.1 Want even more tools and guidance? If you choose the Stash+ plan2 when signing up, you can earn 2x stock rewards when you spend on eligible purchases!5

Sign up for Stash now

Turn your $500 into $1,000 without even thinking about it

Wouldn't it be nice to double your savings? Having some extra money in your emergency fund is a good feeling.

If you need a little boost for your savings, consider Digit. It's like your smart financial assistant, dedicated to helping you achieve your financial goals. Just tell Digit what your goal is — maybe it's paying off credit card debt, saving for a vacation, or building that emergency fund — then let their sophisticated algorithms do the rest.

Digit will analyze your spending habits then automatically move the perfect amount to your secure Digit account. You'll start saving without even thinking about it or changing your lifestyle.

Digit has already helped its users save over $4 billion dollars!

Sign up for Digit here

Save an average of $560/year on car insurance in Virginia

Are you staying home and driving less? If you answered yes, you've got an opportunity to lower your auto insurance premiums. With driving and auto insurance claims down, insurance companies are offering discounts.

With Insure.com, you fill out one simple form, and in minutes, you'll get a selection of personalized quotes. You'll be able to see the best prices from top insurance companies, all in one place, then pick the one that saves you the most for the coverage you want.

On average, drivers save $560/year when they use Insure.com.

Compare quotes now

Trim up to $720 from your bills with the budgeting app that does it all

Ever look at your bank account and wonder where your paycheck went? Poof, it's gone and you're not exactly sure where you spent it. A budgeting app like Truebill can help you take control of your money — spend intentionally on the things you value and stop throwing money away on unimportant things.

Once you have a complete picture of your finances, it's easy to see ways to save. And Truebill can help make those potential savings a reality. Their expert negotiators can call the cable company and phone company to help lower your bills. They'll also help you cancel unwanted subscriptions and put that money back in your bank account where it belongs.

Truebill has already helped save its members over $50,000,000 on their bills without much time and effort.

Download Truebill now

Get the cash you need without leaving home

If you need quick access to cash, a home equity line of credit (HELOC) from Figure is one of the simplest and fastest options available.

You can get a HELOC from Figure6 without ever leaving home. Whether you'll use the money for debt consolidation, a home improvement project, or a major purchase, you could have your money in days, not months.

Their online application is fast and easy to complete. There's no in-person appraisal needed and they even have online video notaries available in some locations. You could receive funding in just 5 days3 — get the money and get on with your life.

Checking your pre-qualified offers from Figure won’t impact your credit score,7 but you do need a credit score of at least 620 to qualify.

Get a quote now

Bonus: Get smarter about money in just 5 minutes a day

"Wealthy" is all about numbers. "Worthy" is a mindset. If you’re the type of person who’s passionate about growing your net worth and becoming financially independent, then you belong in Worthy — our brand-new personal finance community.

Join Worthy, and you’ll get expert advice on earning more, investing smarter, and saving for the life you want - right in your inbox, for free! Stay up-to-date on the latest news and trends that could impact your wallet, and get access to exclusive insider content and special offers.

Sign up now and join thousands of people who are getting smarter about money every day with Worthy.

Ready to get smarter?

Stash Benefits

  • Get $5 to make your first investment
  • Invest in stocks, bonds, and ETFs
  • Fractional shares available
  • Start investing with just $1