How many of you out there have a savings account – or would like to? If you are anything like me, you’ve had one for years, built it up, drained it, built it up again, only to have to spend it all for an emergency. Sound familiar?

I want to share with you 5 ways to build your savings account again without over-stressing your budget, mind, or family! Please keep in mind that these are ways that have worked for my family, but may not work for your own personal situation. Either way, I pray that they spark ideas in you to be able to start adding more into your savings account, today!

5 Ways to Build Your Savings Account

1. Every time you get money from any source, give a little bit away.

I can hear it now, “What? Are you crazy? I thought this article was going to be about SAVING money, not giving it away.” You’re right, it is. However, there is a spiritual and natural law that no one living on this earth into adulthood can deny: YOU REAP WHAT YOU SOW.

Think of it like this: When you go to work on your first day, you are sowing into being a good worker to get a paycheck. Most jobs do not pay you for at least 2 weeks after you start your job. But you still show up for work, right? Why? Because you are sowing to reap a harvest – you are working for a paycheck. Giving works much the same way. You begin to give and you’ll see it come back to you in ways you never fathomed. The same is true if you do not give, you will see yourself reaping a sparing harvest.

Whether you like what I am saying or not, it’s undeniable, in order to receive, you must first give. I pray that if you are not currently doing this in your finances, you will start to. No amount is too little. Just give out of the goodness of your heart (not out of greed or compulsion) and expect to receive a harvest!

2. Every time you get paid – pay yourself.

It’s a simple concept, really. Each time we get paid, in addition to giving some away, we also pay ourselves a little bit in our savings account. Of course, I would NEVER tell you to pay yourself and not pay a bill, but I am saying that if you get a $500 paycheck, stick whatever you can afford away in your savings. Even if it is only $1, just do it. Don’t focus so much on the amount as the discipline of forming this habit.

HOT TIP: One way we earn money is by using RAKUTEN to earn cash for shopping online. It is a free cashback service that pays you when you buy from your favorite online shopping sites. 

3. Save the difference.

We are a big couponing family. Whether it’s coupons at the grocery store, coupons at the local department store, or coupons online, whatever we save, we put into savings. For instance, if I went to the grocery store and bought $45 worth of groceries for $19 (because of coupon and store savings), I’d put the difference of $26 into our savings account. I know that sometimes you might not have the “extra” money to put into your savings right away, but be patient as one day you will if you keep being smart with your finances.

4. Make frugal-living a priority.

Often times I meet people that are desperately seeking ways to save money or get more money but are unwilling to change the way they are living. In order to live a frugal lifestyle, it has to become a priority in your life. You will have to make intentional decisions to resist the temptation to spend money like you used to – or when you want to. You will have to make a list of priorities in your new way of living so that you can see on paper what living this way “looks” like.

If you are married, you will want to sit down and write out a list of financial priorities with your spouse so that you can be on the same page when it comes to your spending habits. This will help you stay on track in the times when those temptations to be careless with your finances comes along – and this alone will save you countless amounts of money!

5. Sell the things you don’t need.

I have a rule in our house that if something isn’t being used, we get rid of it. There are few exceptions to this policy, two of these exceptions have been saving homeschool books to pass down between the three children and when we were starting our family – saving baby items for a new baby. Each family probably has a few items that they will pass down, but limiting it is key to not overspending and earning money by selling what you no longer use.

For us, we donate many things, but we sell most of the “big” ticket items that we no longer need or use. This has been a big blessing for our family and has allowed us to build up our savings account over the years to go on nice family vacations! I am not big on garage sales and prefer online  Two of my favorite places to sell things online are: Craigslist and Ebay.

More to Consider…