How to Save Money and not Touch It


Bronze Wordsmith
May 17, 2018
The traditional way of saving money is by tossing it into a good old bank account. A bank account is one of the best ways to keep money. But it isn’t the only way. In this post, I’ll be teaching you how to store money without a bank. There are several ways to save money without a bank account, and this article will go through my favorite methods.

If you’ve been looking for ideas on saving money without a bank account, you’ve come to the right place! But first, I’d like to share a potentially controversial idea that is still worth hearing.

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You Don’t Have to Be Disciplined to Save Money!

When I was younger, I was always being told – either by my parents, grandparents, or school teachers – that I had to save money. Not only that, but the only way to save money was to be disciplined about my spending. They meant well, and discipline is generally a good trait to foster, but I don’t think it is needed when saving money. In fact, I think trying to be disciplined can actually have a negative effect on your efforts to save money!

I know that sounds pretty controversial, but let me explain: I like to compare discipline to holding your breath. You have this urge to breathe, but you’re trying your darndest best to hold your breath. At some point, you’re going to have to breathe. Willpower can only get you so far.

And the same goes for spending. Our brains have been hard-wired to seek satisfaction and rewards, and the most common way we get that is by spending money. We can exert a superhuman amount of willpower, and I’m sure most people will be able to control the urge to spend for a while, but I’m also sure most people will eventually give in.

So the best way to save is to take discipline out of the equation. This post will include a few methods for controlling your spending (and saving money in the process) without having to exert too much effort. Most of these techniques will involve automating your savings (so you don’t get to spend it!) or using various apps to help you save – and even earn – money. I’ll also be sharing the best way to save money without a bank.

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Use a Debit Card Instead of a Credit Card

Credit cards definitely offer lots of valuable utility. But they’re also big financial traps. When you’re using a credit card, it’s so easy to overspend. Think about it: when you’re spending with a credit card, it doesn’t feel like you’re spending real money. Credit cards are good at making money pretty abstract. Provided you don’t go over your credit limit, you can get pretty much whatever what you want after just a few swipes.

And that’s… dangerous. Money doesn’t feel real, at least not until you get bill shock over your next credit card statement!
For non-emergency purchases, I recommend using a prepaid debit card. With a debit card, you can only spend money you actually have. And that makes it easier to budget and save money. And the cool thing about them is that they can also serve as a sort of non-savings savings account. If you want to know how to save money without a bank account – put the money into a prepaid debit card.

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Put the Money in Mutual Funds

This is my favorite way to save money without a bank account. Okay, this leans towards “investment” more than “savings” but when you invest, you set aside money for the promise of future profits. So that’s pretty much like savings in my book, but better. When you set money aside you’re not earning interest. Given the fact that inflation is a thing, you could end up losing value on the money you have stockpiled. But investing that money is one of the best ways to ensure that your money stays ahead of inflation. And you could even stand to make a tidy profit off the money you’ve set aside! So yeah, this is way better than plain old savings.

I know the concept of “investing” might sound intimidating but it doesn’t have to be. Mutual funds are one of the easiest ways to get into investing. With mutual funds, you hand over your money to a (reputable) financial manager. That person pools the money from multiple people and invests that money in the stock market. Everyone gets a cut of the profits. Since people are pooling their money together, you won’t have to invest a large sum right away. So this is a great and easy way to get into investing. And investing happens to be my favorite way to save money without a bank account.

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Use a Rewards Site

The next best thing about saving money is… to actually make money! Most of us will already have numerous side hustles on top of our day jobs, so I wouldn’t recommend a super complicated way to earn. And that’s what so good about rewards sites – they’re really easy to use, and the tasks you do to earn can be done while you’re doing chores or waiting in line at the grocery.

My favorite rewards site tends to change with the weather, but my current favorite is ZoomBucks. The site is still pretty new, but don’t worry, they’re totally legit. It’s actually nice to use a new rewards site since chances are they’re still aiming to please. But I have no doubt ZoomBucks will be able to maintain the awesome as the years go by.

On ZoomBucks, you earn points for doing some really easy tasks – namely, answering surveys (for market research purposes), watching videos, and completing offers. You can then trade these points for cash or gift cards. And ZoomBucks already has tons of awesome gift card options. And they pay really well, too!

But my favorite thing about ZoomBucks is that payouts are processed in only two days. When you’ve earned 3,000 points (equivalent to $3 in real money) you can request a payout, and it only takes two days to process! That’s a huge benefit.

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