Increasing your savings rate is one of the most effective ways to achieve financial security in 2026. With smart planning and small lifestyle adjustments, you can save more without feeling deprived. Here’s how:
1. Track Your Spending
You can’t improve what you don’t measure. Start by tracking every expense for a month. Use apps like:
- Mint
- YNAB (You Need A Budget)
- PocketGuard
For more budgeting apps, see Best Apps to Track Spending in 2026.
2. Set a Target Savings Rate
Decide what percentage of your income you want to save each month — 20% is a good goal for beginners. Automate transfers to your savings account to ensure consistency.
3. Reduce Unnecessary Expenses
Identify non-essential spending and cut back:
- Subscriptions you don’t use
- Impulse shopping
- Frequent dining out
Even small cuts can boost your savings rate significantly over time.
4. Increase Your Income
The faster your income grows, the easier it is to save more. Consider:
- Side hustles like freelance writing or graphic design
- Selling unused items online
- Investing in low-cost online businesses
See Top 10 Easy Side Hustles for Beginners in 2026 for ideas.
5. Automate Your Savings
Set up automatic transfers to your savings account right after each paycheck. This reduces the temptation to spend and ensures consistent progress toward your goals.
6. Use the 50/30/20 Rule
A popular budgeting method:
- 50% for needs
- 30% for wants
- 20% for savings and debt repayment
Adjust the percentages to increase your savings rate as your income grows.
7. Take Advantage of High-Yield Accounts
Keep your savings in high-yield savings accounts or money market accounts to earn more interest on your money. Some top options in 2026 include:
- Ally Bank High-Yield Savings
- Marcus by Goldman Sachs
- Discover Online Savings
Internal Links
- Learn how to save more fast: How to Save Money Fast in 2026
- Explore ways to manage your salary: How to Manage Your Salary Wisely in 2026
Outbound Resources
- NerdWallet Savings Tips: https://www.nerdwallet.com/best/finance/ways-to-save-money
- Investopedia Savings Strategies: https://www.investopedia.com/articles/personal-finance/040415/ways-increase-savings-rate.asp
Final Thoughts
Increasing your savings rate in 2026 is about tracking, automating, and smart financial planning. Small, consistent changes can significantly grow your savings and build long-term financial security.