--- title: "11 Habits of a Wise Saver ..." description: "Pay off Your Debt; Put Away 10% of Everything You Receive; Open a Savings Account with Interest; Have an Emergency Fund; Ditch the Credit Card; More ..." url: "https://allwomenstalk.com/11-habits-of-a-wise-saver/" category: "lifestyle" last_updated: "2026-06-02" --- # 11 Habits of a Wise Saver ... A great number of people are still bouncing back from the financial crisis. If you happen to have a source of income, you want to make sure that you are doing something with your money. The best thing you can do with your money is to save it. The skill of saving is not hard to learn. All you have to do is remember and carry out these 11 habits of a wise saver. ## 1. Pay off Your Debt ![Pay off Your Debt](https://resize.allw.mn/1028x0/filters:format(webp)/filters:quality(70)/content/www/2010/10/11-habits-of-a-wise-saver/pay-off-your-debt_11-habits-of-a-wise-saver_500x375.jpg) Photo Credit: [quaziefoto](https://www.flickr.com/photos/quazie/578252290/) Before you can actually save anything substantial, make sure that you have paid off all your [debts](https://allwomenstalk.com/9-tips-to-get-out-of-debt/). There are many systems and practices to help you pay off your [debt](https://allwomenstalk.com/9-tips-to-get-out-of-debt/) so look around to find one that best suits your situation. ## 2. Put Away 10% of Everything You Receive _ Photo Credit: stevefaeembra_ To ensure that you have savings, put away 10% of every paycheck that you receive. You can do this manually or by using an automatic transfer system. ## 3. Open a Savings Account with Interest ![Open a Savings Account with Interest](https://resize.allw.mn/1028x0/filters:format(webp)/filters:quality(70)/content/www/2010/10/11-habits-of-a-wise-saver/open-a-savings-account-with-interest_11-habits-of-a-wise-saver_500x375.jpg) Photo Credit: [Robby Virus](https://www.flickr.com/photos/25229906@N00/4340181134/) Bank interest is not much but with the passing of years, the amount can add up. Open an interest-earning savings account with a bank that you trust. ## 4. Have an Emergency Fund ![Have an Emergency Fund](https://resize.allw.mn/1028x0/filters:format(webp)/filters:quality(70)/content/www/2010/10/11-habits-of-a-wise-saver/have-an-emergency-fund_11-habits-of-a-wise-saver_500x326.jpg) Photo Credit: [Dallas photographer Scott Dorn](https://www.flickr.com/photos/sdorn/2903330208/) Aside from the money in your savings account, you should also have a 3 to 6 month emergency fund. As with your paycheck, you can transfer money to this account manually or automatically. Use the money in your emergency fund for unforeseen events or when you happen to become unemployed. ## 5. Ditch the Credit Card ![Ditch the Credit Card](https://resize.allw.mn/1028x0/filters:format(webp)/filters:quality(70)/content/www/2010/10/11-habits-of-a-wise-saver/ditch-the-credit-card_11-habits-of-a-wise-saver_500x334.jpg) Photo Credit: [Alex Segre](https://www.flickr.com/photos/alexsegre/314127232/) Using a credit card makes it so easy for you to spend and eventually acquire [debt](https://allwomenstalk.com/9-tips-to-get-out-of-debt/). Cancel and cut up your cards to stop the cycle of convenient spending and debt acquisition. ## 6. Pay in Cash _ Photo Credit: MoneyManagement_ Paying for everything in cash forces you to allocate enough money for the different categories in your budget. When you run out of cash for a certain category, then that means you have to stop spending. ## 7. Pay the Full Amount ![Pay the Full Amount](https://resize.allw.mn/1028x0/filters:format(webp)/filters:quality(70)/content/www/2010/10/11-habits-of-a-wise-saver/pay-the-full-amount_11-habits-of-a-wise-saver_500x333.jpg) Photo Credit: [dview.us](https://www.flickr.com/photos/differentview/3796674540/) Payment plans usually add interest to the full amount of an item. Don’t think that because you are paying a small amount every month for half a year you are saving money. Add everything up and you will see that you have been actually paying more. ## 8. Create a Budget ![Create a Budget](https://resize.allw.mn/1028x0/filters:format(webp)/filters:quality(70)/content/www/2010/10/11-habits-of-a-wise-saver/create-a-budget_11-habits-of-a-wise-saver_500x334.jpg) Photo Credit: [alexey05](https://www.flickr.com/photos/alexey05/2739129693/) Assess your daily, weekly, and monthly spending. Determine which expenses can be eliminated and then proceed to create a budget. I like to overestimate the amount a little bit to give room for adjustments. ## 9. Live below Your Means ![Live below Your Means](https://resize.allw.mn/1028x0/filters:format(webp)/filters:quality(70)/content/www/2010/10/11-habits-of-a-wise-saver/live-below-your-means_11-habits-of-a-wise-saver_500x333.jpg) Photo Credit: [Jeanique](https://www.flickr.com/photos/jeanique/3412846411/) Look at your life right now and find out what it is that you really need. You will find that you don’t need a lot to enjoy and survive life. Live below your means and discover that you actually have a lot of money to put into your savings or emergency fund. ## 10. Buy Used ![Buy Used](https://resize.allw.mn/1028x0/filters:format(webp)/filters:quality(70)/content/www/2010/10/11-habits-of-a-wise-saver/buy-used_11-habits-of-a-wise-saver_500x333.jpg) Photo Credit: [.jacquelyn](https://www.flickr.com/photos/28976917@N04/2706056144/) Learn to determine whether you are actually saving money on a sale or bargain item. Better yet, choose to buy used when you can. Buying certain items used, rather than brand new, will help you save money. ## 11. Minimize or Eliminate Eating out ![Minimize or Eliminate Eating out](https://resize.allw.mn/1028x0/filters:format(webp)/filters:quality(70)/content/www/2010/10/11-habits-of-a-wise-saver/minimize-or-eliminate-eating-out_11-habits-of-a-wise-saver_500x222.jpg) Photo Credit: [Don't Worry](https://www.flickr.com/photos/dontworry/1049161070/) Eating out can slowly but surely drain your budget. Eliminate eating out or limit doing it on very special occasions. Cooking your own meals is healthier and can help you save money. Please know that I am not a money or finance expert. I found out about these habits through reading blogs on the subject matter and through my own experience. These habits are just simple ways to get you on the road to saving money. You can consult websites, books, and experts for more detailed information on each habit. Just remember that once you decide to change your spending habits, you are also deciding to change your life. 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