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5 Ways to Save in 2012

2012 is a new beginning! Take time to put some new ideas to work in your financial life. A few small changes can bring you more financial success. Here are some of our favorite money-saving moves:

  1. Put yourself on an allowance for one month. Keep close track of everything (write it all down!) you spend on discretionary items (food, clothes, entertainment, everything that’s negotiable) for a month. Then, on month #2, challenge yourself to come in 20% lower in each category. This is more fun if you have a buddy to do it with, so include your spouse or a friend to provide moral support.
  2. Use coupons or special offers.You’ll save money and you won’t be tempted to try items that you won’t use or don’t like just because they are on sale.Take advantage of special money-saving offers that help you save time and money. Sign up for Iowa State Bank’s eStatements and get $10.*
  3. Don’t add to your debt. Develop a “make-do” attitude, and see how long you can go without buying on credit. If you absolutely must borrow or use your credit card, set rules about how much your limit is and how you will pay it off.
  4. Find out if you’re paying too much interest. Like deposit rates, interest rates are at historic lows, so you want to know what average mortgage, consumer loan and credit card rates are. Compare that to what you’re paying and see if it’s time to negotiate.
  5. Use online banking and bill pay. Both of these services are free at Iowa State Bank and offer you a way to monitor your spending while saving cash on stamps and envelopes.

Remember, making small changes in how you handle your money will save you the most if they are changes you can maintain over time. Make 2012 the year that you start creating money-saving habits that can last a lifetime.

*The $10 incentive is available for new checking and savings eStatement accounts only. One offer per account. Your $10 incentive will be deposited two business days following enrollment. This offer is available through January 31, 2012.

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