Everyone could use more savings, but few of us know how to achieve this lofty goal. Money comes and money goes it seems, sometimes all to fast. Each year millions of Americans make a new years resolution to save more money, but every year many of these same Americans fail to achieve their goal, not due to not wanting to make it happen but rather due to not knowing how to make it reality. Here are some saving money tips that should help you realize your money saving goals in 2016. Remember when it comes to saving small equals big, all of the small savings that you can achieve can add up to big numbers over the course of the year.

* Saving that loose change or using your banks round it up savings program:

Did you know that just by saving your loose change you could easily shore up your emergency fund? Saving only 50 cents per day can save close to 40% of a $500 emergency fund. Many banks such as Bank of America also offer a keep the change program where every purchase is rounded up to the nearest dollar, and the change rounded up gets automatically transferred to your savings account. It takes the work out of saving your loose change, especially in an increasingly paperless and coin less society.

* Limit impulse spending:
Think about each purchase you are going to make. For purchases over 50 dollars that are not food, gas or a necessity, refrain from buying for 24 hours to make sure that this is what you really want to allocate your hard earned money to. Ever heard the term buyers remorse? Millions of Americans make purchases that they regret, taking time before you buy can not only make sure you are not one of them but also save you hundreds if not thousands of dollars per year.

* Making non needed purchases:

One great way of saving is to take the amount that any unneeded purchase such as beer, coffee or cigarettes cost and match it to your savings. For example if you spend $10 on a pack of cigarettes, you would also put $10 into your savings account. If you cannot match a purchase to your savings account you cannot afford to buy it.


* Big item purchases:

One tip I recommend for purchases over $50 is to take the amount the purchase costs and divide it into your hourly wage. Finding out how many hours you need to work to afford an item you are thinking about buying really helps to put things into concrete terms you can understand as far as the value of your money goes. It gives us a moment to consider if this is something we really want to spend that money on, especially for those of us doing a job we really do not like.

* Short term savings to keep you steady:

When it comes to saving goals, think short term vs long term. While it is easy to say “I want to save $2500 this year” it is harder doing a long term goal when it comes to money. However saying “I want to save $50 per week” makes it easier mentally for us, which by the way adds up to $2600 per year. People are more successful with saving towards short term goals studies have shown.