7 Underrated Strategies to Supercharge Your Savings Goals

Saving money can feel overwhelming, especially when life’s expenses seem never-ending. But the truth is, reaching your savings goals doesn’t have to be an uphill battle. Sometimes, it’s about finding the right strategies and sticking to them. Below, we’ve rounded up seven underrated but highly effective ways to give your savings goals a serious boost.

1. Get Your Debt in Order

Before you can focus on saving, tackling your debt is essential. High-interest debt, like credit card balances, can quietly eat away at your finances, making it much harder to save. Start by listing all your debts and prioritizing repayment. The debt snowball method (starting with smaller debts) or the debt avalanche method (tackling higher-interest debts first) can help you stay organized and motivated.

If your debts feel unmanageable, look into debt relief programs from Delancey Street. These can provide structured plans to consolidate or reduce what you owe, helping you get back on track faster. Once you’ve got your debt under control, you’ll free up more income to put toward your savings goals.

2. Automate Your Savings

Saving is so much easier when it happens without you having to think about it. Automation takes the guesswork out of the process, ensuring you consistently save a portion of your income. Most banks let you set up automatic transfers from your checking account to your savings account on a schedule that works for you.

Even small, regular amounts add up over time. For example, setting aside just $50 a week will net you $2,600 by the end of the year. If you’re saving for something specific, consider opening a separate account to keep those funds untouched and clearly track your progress.

3. Reevaluate Your Monthly Subscriptions

Take a good look at your recurring expenses. Streaming services, gym memberships, and premium apps can quietly drain your wallet, especially if you’re not fully using them. Canceling or pausing unnecessary subscriptions can quickly free up money to put toward savings.

If cutting everything seems too drastic, start by identifying the subscriptions you use the least. Alternatively, consider sharing costs with friends or family for things like streaming services. These small adjustments can leave a bigger chunk of your income available for savings.

4. Set Clear, Achievable Goals

Having vague savings goals like “save more money” isn’t particularly motivating. Instead, set specific, realistic targets with clear deadlines. For example, instead of saying, “I want to save for a vacation,” decide, “I’ll save $3,000 for a trip by June next year.”

Breaking goals into smaller milestones can also help. If your target is $3,000 in 12 months, aim to save $250 each month. Celebrate these smaller wins to keep your motivation high and reinforce good habits.

5. Use Cash-Back and Reward Programs

Make your spending work for you by using cash-back apps, loyalty programs, and credit card rewards. Many apps give you a percentage back on everyday purchases like groceries, gas, or dining out. While the rewards might seem small initially, they can add up over time and become a nice addition to your savings.

Just be mindful when using credit card reward programs—these only work in your favor if you pay off your balance in full each month. Otherwise, interest charges can quickly outweigh any rewards earned.

6. Embrace the 30-Day Rule

Impulse purchases can derail even the best savings plans. The 30-day rule is a simple strategy to help you avoid unnecessary spending. Whenever you feel the urge to buy something non-essential, wait 30 days before making the purchase.

During this waiting period, you might realize you don’t really need the item or find a more budget-friendly alternative. By curbing impulse buys, you can save a surprising amount of money without feeling deprived.

7. Find Creative Ways to Supplement Your Income

If you’ve cut expenses as much as possible and still want to boost your savings, increasing your income is the next step. Side gigs like freelancing, selling unused items online, or taking on part-time work can give your savings an extra push.

You don’t need to sacrifice all your free time to make this work. Even dedicating a few hours a week to something like tutoring, pet sitting, or offering a service you’re skilled at can make a noticeable difference. The extra income can go directly into your savings fund, speeding up your progress.

Keep Momentum and Stay Focused

The key to successful saving is consistency. By putting these strategies into practice, you’ll build a stronger financial foundation and make steady progress toward your goals. Remember, every step—big or small—brings you closer to the financial freedom and peace of mind you’re working toward.