It's not always easy to save money, but the practice doesn't need to be complicated. If you're looking for ways to grow your savings, then National Savings Day may be for you.

National Savings Day is observed on Oct. 12 annually to recognize the importance of saving by looking for new and simple ways to begin or perhaps improve one’s saving journey. Founded by Capital One, the occasion was created with the aim to educate people on the simple ways to save and become more confident about their relationship with money, National Day Calendar noted.

Whether you're only beginning the savings journey or looking for ways to improve, National Savings Day is a good time to have a closer look at one's spending habits.

On this day, let's have a look at some simple ways to save money. (Courtesy: Virginia Credit Union, America Saves, Bank of America and Capital One)

Take Note Of Saving/Spending Habits

It can be easy to lose track of just how much we spend each month, but taking note of it may help control spending. For instance, one can take note of their spendings in a notebook or perhaps an app. Whichever way one chooses, having taken note of one’s spending habits may help you see areas where you can still improve. It may even help determine which spending areas are wants and which ones are actual needs.

Set A Budget, Put Cash In Envelopes

Staying within one’s budget may be hard sometimes, but it can help prevent overspending. And although it may sound old-fashioned, putting cash in envelopes may actually help one to stay within this budget because it helps limit the amount of money being used.

Save Automatically

One quick way to ensure that you have savings for the month is to set some money aside immediately. In many banks, for instance, people have the option to set for an automated transfer between checking and savings accounts. This way, a part of one’s salary automatically goes into the savings account.

Consider Earning Extra Income

There are many ways people can earn a little extra money. For instance, those who are rather skilled in crafts may sell handmade items while those who have a little extra time may complete errands for people or perhaps deliver food. No matter how small the side gig may seem at a glance, even small hustles can help you make and save a little more money.

Save On Utility Bills

From water to electricity and cell phone bills, there are many ways that people can save money "without feeling deprived." For instance, limiting shower time to 10-minutes can help save water bills, while utilizing Wi-Fi at work as much as possible may help one save on data costs. Some may also consider downgrading some services, for instance cutting landline if it's barely getting used.

The U.S. Department of Energy also has many tips on saving electricity at home, one of which is checking for air leaks, as these are said to be "among the greatest sources of energy loss" at home.

Set Goals

Whether short or long term, setting goals can help people be more motivated as they have a target to reach for. For instance, buying a new smartphone could be a short-term goal for the months ahead while saving up for retirement can be your long-term goal.

Plan Gifts In Advance

Since we are already inching towards the holidays, one of the ways people can save even while setting aside money for gifts is to plan them in advance. Not only will this give more time to think of a meaningful gift, but it may also be a good opportunity to wait for sales.

Another way to ease the spendings for the holidays would be to discuss a spending limit with the family. This way, there would be less financial stress on all the members of the family.

Piggy Bank, Finance, Money or Savings
Representation. Piggy Bank. 3D Animation Production Company/Pixabay