Friday, January 12, 2018

How to Start Saving Money?

Keep it Separate and Make it Automatic

If you haven't heard the phrase "pay yourself first," it will change your life.
If you don't automate your savings, you're much more likely to reach the end of the month and realize you've spent what you had planned to save.
Once you cut back on your spending and start to have some spare cash, it;s important to keep it in a safe place so you won't spend it- because no matter how disciplined you are, if it;s there, it's tempting.
So if you don't already have a savings account, open one. Having a separate account for each goal can also keep you more disciplined and help you keep tabs on everything.
Then budget out how much extra money you will have each month for each goal and set up an automatic direct deposit from your paycheck. Have each specific amount sent directly to each account- that way the money is put into savings before you have the chance to spend it.

No comments:

Post a Comment