Money Moves

5 Easy and Painless Ways to Save Money

Not spending extra money when you have it can be super hard, especially when you really want something specific. But saving money can give you bigger and better long-term rewards. Here are five ways to make saving money easier and less painful.

1. Pay yourself when you decide not to buy something.

Ever been super tempted to buy a new pair of shoes that you really don't need? And you stop yourself from buying them? Reward yourself and put the money you would have spent on the shoes into your savings account!

2. Save up for something specific with a savings vault.

Got your eye on those new sneakers dropping next month? Want to treat yourself to a vacation someday? Stash money to save for an upcoming expense, budget, or any goal you can think of with a GO2bank savings vault. You can create up to 5 vaults at a time, and the money in your vault will earn 4.50% APY¹, which is well over the national average!

3. Use coupons and join rewards programs.

Use coupons when you go grocery shopping? Have a rewards card for your favorite shopping spots? When you get home with your receipt, look at the amount of money you saved by using the coupons or by being a rewards member, then put that amount of money into your GO2bank savings vault or the cookie jar!

4. Set up direct deposit so your paycheck gets automatically sent to your account.

When you set up direct deposit with your employer or government benefits provider, you can elect to have your pay sent to more than one account. You can opt to have a percentage of your income or a specific dollar amount direct deposited to your account. And setting up direct deposit with GO2bank is quick, easy, and unlocks a ton of features, like no monthly fees² with eligible deposits, getting your pay up to 2 days early³, and overdraft protection⁴ up to $200 with opt-in and eligible direct deposits. Set up direct deposit here.

5. Find cash back options and use them!

Choose a bank account that offers other sweet perks that can help you save money, like cash back rewards. Did you know you can earn up to 7% instant cash back⁵ when you buy eGift Cards from nearly 100 popular merchants in the GO2bank app? That means buying gift cards for pizza on the app can automatically give you money back that you can put towards your savings, while also giving you an easier way to buy pizza. Now that’s win-win.

Saving money can be easier and more fun than you thought. Learn more about how you can use GO2bank’s mobile bank account to help build up your balance and take control of your financial journey with our incredible features.

The views and opinions expressed here may not represent the views and opinions of GO2bank, Green Dot Corporation, or its affiliates. It is presented for general informational purposes only and does not constitute tax, legal, or business advice.

The GO2bank Blog may contain hyperlinks to sites that are not operated by GO2bank. The GO2bank Privacy Policy does not apply to the linked sites, and you should consult the Privacy Policies on those sites for further information. GO2bank does not provide and is not responsible for the product, service or overall content on those sites.

¹Interest paid quarterly on the average daily balance of savings during the quarter, up to a balance of $5,000 and if the account is in good standing. Fees on your primary deposit account may reduce earnings on your savings account. 4.50% Annual Percentage Yield (APY) as of January 2023. APY may change any time before or after you open an account. See Deposit Account Agreement at GO2bank.com for details.

²Monthly fee waived whenever you receive a payroll or government benefits direct deposit in the previous monthly statement period. Otherwise $5 per month.

³Direct deposit availability depends on timing of payor’s payment instructions and fraud prevention restrictions may apply. As such, the availability or timing of early direct deposit may vary from pay period to pay period. 

⁴Opt-in required. Account must be in good standing and chip-enabled debit card activated to opt in. Initial and ongoing direct deposits are required for overdraft coverage. Additional criteria may apply which can affect your eligibility and your overdraft coverage. Overdrafts are paid at our discretion. Overdraft fees may cause your account to be overdrawn by an amount that is greater than your overdraft coverage. A $15 fee may apply to each eligible purchase transaction that brings your account negative. Balance must be brought to at least $0 within 24 hours of authorization of the first transaction that overdraws your account to avoid a fee. Learn more (Overdraft Protection PDF).

⁵Activated, chip-enabled GO2bank card required to purchase eGift Cards. Active GO2bank account required to receive eGift Cards. eGift Card merchants subject to change, as well as the percentage of cash back from each merchant.  See Deposit Account Agreement (PDF)  for details.

* When on a desktop, hover over * to view important disclosures. When on a mobile device, click on * to view disclosures.

The views and opinions expressed here may not represent the views and opinions of Green Dot Corporation or its affiliates. It is presented for general informational purposes only and does not constitute tax, legal or business advice.

The GO2bank Blog may contain hyperlinks to sites that are not operated by Green Dot. The Green Dot Privacy Policy does not apply to the linked sites, and you should consult the Privacy Policies on those sites for further information. Green Dot does not provide and is not responsible for the product, service or overall content on those sites.

Online access, mobile number verification (via text message) and identity verification (including SSN) are required to open and use your account. Mobile number verification, email address verification and mobile app are required to access all features. See GO2bank Deposit Account Agreement (PDF) and GO2bank Secured Credit Cardholder Agreement and Security Agreement (PDF) for fees, terms and conditions.

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GO2bank is Green Dot's flagship mobile bank account. Green Dot has serviced more than 80 million accounts over the last 24 years.

GO2bank also operates under the following registered trade names: Green Dot Bank, GoBank and Bonneville Bank. All of these registered trade names are used by, and refer to, a single FDIC-insured bank, Green Dot Bank. Deposits under any of these trade names are deposits with Green Dot Bank and are aggregated for deposit insurance coverage up to the allowable limits.

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