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Simple Ways to Save Money in Texas

Saving money can be difficult, especially with prices on the rise and real wages stagnant. But there are a few simple ways to save money, even in this economy.

Figure Out Where You Can Cut Back

One of the first steps you can take towards saving money in Texas is identifying where you can start. We all have something we could cut back on, whether that be eating out, shopping for clothes, or having old subscriptions left on auto-pay. So you’ll want to take a good long look at your bank statement.


Whether it comes in the mail, or you have access to an online statement, you’ll want to identify anything you might be spending too much on. It can be really easy to spend extra money on something if it’s 2 or 3 dollars, but you’ll be able to find out how much it really adds up to at the end of the month.

If You Can, Buy It in Bulk

If you have the ability to buy in bulk, it’s almost always going to be a cheaper option in the long run. Foods like meat, rice, potatoes, and other household staples you likely purchase on a regular basis are generally sold by the pound. And the more you buy at one time, the cheaper it gets.

When you’re at the store, take a look at the price tag. Below the price, they generally include a helpful “Price Per Pound” figure. This gives you the ability to make far better comparisons, and better purchases, while at the grocery store.

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Put Money Back Automatically

Something that can be a real game-changer in your financial life as a Texan is taking advantage of the extra services your bank may offer. One such service offered at many is the ability to automatically deposit a portion of your direct deposit straight into your savings account.

When you have to do it manually, it can be easy to forget, or put it off until later. And that reduces the actual likelihood that you’ll follow through with your plan to start saving. By having it done automatically every time a check is deposited, you’ll be certain your savings account is growing.

Pay Down Debt

While paying down debt might not seem like a way to save money, in the long run, it’s incredibly important. The longer you have debt, the more interest it accrues, sapping away your extra income. For those with credit card debt, it’s even worse. With some credit card companies charging 18% monthly interest, letting it accrue can quickly lead to debts piling up to the ceiling.

One way to get a handle on your credit card debt is known as “Debt Consolidation”. By enlisting a debt relief company, you can roll all of your high-interest debt into a single loan with a lower interest rate.

And, if you’re looking for debt consolidation tips for Texans, Freedom Debt Relief can help you figure out if the process is right for you.

Take Advantage of a 401(k)

A 401(k) is a type of employer-sponsored savings plan. For those looking to save up for retirement, this is the gold standard for investment. This is because a 401(k) is a tax-deferred retirement account. That means when you get your paycheck at the end of the week, a portion of that gets sent directly into the plan, before it ever gets taxed.

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This provides you with 2 major benefits, a lower tax bill at the end of the year, and a larger amount of capital going into your plan. Another major benefit is that a lot of employers are willing to split the bill. If your company offers matching on your 401(k), you should absolutely take advantage of it. Max out your contributions to the highest allowable amount, follow these simple ways to save money, and you’ll be on your way to a healthy financial future.

Phil Schwartz

"Food expert. Unapologetic bacon maven. Beer enthusiast. Pop cultureaholic. General travel scholar. Total internet buff."

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