5 Effective Ways to Save More Money
Financial WellnessSaving money is more than just a good habit — it’s a key step toward financial stability and peace of mind. With a few intentional strategies, you can strengthen your savings and feel more confident about your future. Here are five things you can do to spend less and save more:
1. Create a Budget
The first step in saving money is understanding where your money goes. Create a detailed budget that outlines your income and expenses. Track your spending habits and identify areas where you can cut back. This will help you allocate a specific amount for savings each month.
Related: How to Create a Budget in 8 Steps >
2. Automate Your Savings
Set up automatic transfers from your checking account to your savings account. By automating your savings, you ensure that a portion of your income is saved before you have the chance to spend it. Treat your savings like a recurring expense to make it a priority.
3. Reduce Unnecessary Expenses
Take a close look at your monthly expenses and identify non-essential items that you can eliminate or reduce. Consider things like dining out less, canceling unused subscriptions, or finding cheaper alternatives for services. Small changes can add up to significant savings over time.
Related: Improve Your Finances with a Financial Fast >

4. Take Advantage of Discounts and Coupons
Look for discounts, coupons, and cashback offers before making a purchase. Use apps and websites that provide deals on groceries, clothing, and other essentials. Being a savvy shopper can lead to substantial savings on your regular expenses.
5. Set Savings Goals
Having specific savings goals can motivate you to save more. Whether you wish to save for a vacation, a new car, or an emergency fund, setting clear objectives gives you something to work toward. Break down your goals into manageable amounts and track your progress regularly.
Explore WAEPA’s full library of financial wellness resources >
WAEPA’s Free Financial Wellness Program
WAEPA members have access to a free Financial Wellness Program through our partnership with Ernst + Young (EY). This program includes access to tools and financial advisors to help manage day-to-day finances and work towards long-term goals.
Content courtesy of Ernst + Young (EY), © 2025 Ernst & Young LLP. All Rights Reserved. FinPlantFS 4.2025
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