To create a balanced budget or increase savings, most people will have to find a way to earn more or spend less. If the idea of spending less sounds challenging, try starting small.
It’s important to understand that every purchase we make—excluding such absolute necessities as food, rent, and gas for the car—is a choice. The America Saves coalition offers the following examples of how making some small changes can save you an impressive $150 per month.
Finally, in addition to making small changes, resolve to boost your savings by including all of your "windfall" money. This “free money” includes increased income from a pay increase, birthday gifts, insurance settlements, escrow overages, tax refunds, and inheritances.