1)  Get a Bank of America “Keep the Change” account.  Whenever you use your check card to make a purchase, the change is rounded up to the nearest dollar and debited from your checking/savings account.  The difference is deposited into a savings account for you.  So if you’re purchase comes to $11.50, the debit will be $12.00 and the extra .50 cents is placed into your savings account automatically.  When you’ve saved a substantial amount, you can move it to a higher interest savings option of your choice.

If you don’t want to use Bank of America, you could actually do this manually, but you will “realize” you’re saving a little more than if you use the automatic Keep the Change account of Bank of America.  Everytime you make a purchase, transfer the change to your savings account online.

 2) Use Upromise and connect it to all of your bank cards and credit cards.  Whenever you use your cards to make a purchase, you could be putting aside some savings offered through the Upromise network which can then be used towards a child’s education or placed in a 529 account.

3) Replace your lightbulbs with the energy saving ones.  They cost a bit more initially, but they last 5 to 10 times longer than a regular lightbulb and consume less electricity when turned on.  Turn off the lights, television and other electronics when they’re not being used, and replace appliances with the energy-saver versions whenever it’s time to buy new ones.  The money you save on your electric bill will be considerable; not to mention you’re helping the environment.

5) Let your car save you money.  If you properly inflate your tires you can increase your car’s fuel efficiency.  Changing your air filter and driving under 60 miles per hour all help your gas go further too, as does having a gas cap that fits properly (reduces the amount of gas that evaporates before it’s used).  None of these things require a ton of effort on your part; but will go a long way in saving you money.

How to Save Money Without Realizing You’re Saving It was created by and is property of American Consumer News.

What if you  have no plans for offspring?  You can still let your every day spending benefit your own college education if you used loans to finance some or all of your higher ed costs.

It can be really difficult to be disciplined enough to stretch your dollars into savings accounts for yourself and/or your children.  Most families don’t feel there is enough money to go around- so this is a good way of letting the things you are already buying benefit your long term savings goals- things like groceries, holiday presents, and restaurant meals.

Upromise is a program that gives people a way to connect the debit and credit cards they are already using, as well as grocery store discount cards, to their Upromise accounts.  Each time you use the card at participating retailers or to purchase certain products, a small percentage of the purchase will be credited to your Upromise account.   

Additionally, if you do online shopping (and who doesn’t this time of year?) logging into your Upromise account first, and then clicking on the various store shopping links from within their site will result in higher rewards to your Upromise account.  It’s a simple step that if you remembered to do it each time, could result in a few extra dollars credited to your account every time you did your online shopping.

In fact, participating Upromise companies fall under the following categories:

• consumer packaged goods
• Grocery stores
• online stores
• Local retailers
• Restaurants

Earnings in your account can be saved for a beneficiary that you designate; can be applied to your existing school loan payments; or can be transferred into a NY 529 account  (which is a tax-advantaged college savings program- I am sure other states have equivalent plans that can be connected!) In my personal Upromise account, I actually have both of my children set up as beneficiaries, with the older child receiving 45% of the earnings, the younger child receiving 35% of the earnings, and the remainder going towards my own college loan payments.

Additionally, you can grow your earnings faster by inviting your family and friends to connect their grocery store cards and debit cards to your Upromise account also.  You don’t see their card numbers within your account; but whenever your connected friends and family shop with their cards, their earnings are then credited to your own account.  I actually earn three times as much from purchases my mom and aunt make as I do my own!

College Savings From the Money You Already Spend? was created by and is property of American Consumer News.