If you have been working hard to save your hard earned dollars, you probably know how rewarding it feels to walk out of a store and pay half price for your items.  Or better yet, the joy that comes from looking at your electricity bill, and seeing that you have saved 25% by implementing your money saving strategies.  However, what do you do with all of the money that you save?  Below are a couple of suggestions on what  you can do with all of your extra cash.

1.  Take the amount of money that you save and put it in a separate account.  For instance, if you go to the grocery store and save $10.00 by shopping wisely and using coupons, instead of wasting that $10.00 on something else, why not place it in a special savings account.  It can be your rainy day account, or your large purchase account.  Whatever you choose to call it, it is really rewarding to watch that amount grow.

2.  Take the money that you save by shopping and living wisely and pay extra on an existing bill.   Do you have a credit card that you are working to pay down, or what about a car loan?  If so, take that extra money that you save each month and apply it towards the balance.

The important thing to remember when you do save money is to use that saved money wisely.

photo source:  ZoofyTheJi