Who Says Saving is Boring?

Financial security is the result of planning, preparation and discipline. While improving spending habits might sound tedious, by using a little creativity, it can actually be a fun and rewarding process.

Origin Bank has five tips to help families build security and learn good habits for both spending and saving. And best of all, these ideas allow your family to have some fun in the process.

Try a no-spend challenge. Challenge everyone in the family to spend no money at all for a set number of days. Experts say this kind of challenge is useful in teaching family members to resist impulse spending, and it can shed light on spending problems within the family. It also provides practical benefits. We learn to make do with what we already have, and we cut down on clutter and waste.

Try a lower-price challenge. When someone in the family wants to buy something on the pricey side, have a contest to see who can find it at the lowest price. Many websites and mobile apps provide instant price comparisons among area retailers, letting you choose the best deal. Offering a small reward for the winner helps motivate everyone to take part.

Go beyond coupons. Do you know the secret of midweek grocery shopping? Most stores roll out their new deals in the middle of the week, so midweek shoppers are among the first to benefit from them. Even better, many grocers honor the previous week’s coupons during this time, which gives you maximum savings while shopping during a slow part of the week. In addition, many experts recommend fewer weekly trips to the store, which encourages you to cook what’s already in your kitchen.

Use layaway instead of credit cards. Layaway can be a beautiful thing. It gives you time to pay for a large purchase – interest free. It’s offered by big-box stores and many smaller retailers alike. When it comes to major items like appliances, furniture or presents for birthdays and holidays, layaway gives you the power of a credit card without the hassle of interest rates.

Try the spare-change trick. Here’s an easy, fun way to save. When paying with cash, round up to the nearest $5 amount. If you’re buying groceries, for example, and the bill comes to $36.54, pay $40. When you get home, toss the change in a container and forget about it. Using this trick, some manage to save several thousand dollars over the year ‒ money that can put a serious dent in your debt, pay for a nice Christmas or fund a great family vacation.

Here’s one last tip. If your family is faced with large debt ‒ student loans, credits cards, etc. ‒ contact Origin Bank. We may be able to help refinance or reorganize your debt to get it paid off at a pace you can afford. 


Need more ideas on saving or advice on something specific? Contact Origin Bank.