Proven tricks to help you save
Everyone wants to save more in the New Year. But how are you going to make that resolution a reality? Here are five tips on what it takes.
1 – Pay yourself first. When planning your income and expenses for the month, put saving at the top of your list. That way, you'll visually prioritize saving instead of allotting your money to other places.
2 – Treat saving like a bill. It’s not something you’d like to do; it is something that you must do in order to achieve your financial goals.
3 – Automate saving. The easiest and most effective way to save is automatically. $50 a month accumulates into $600 a year. Over time, your deposits will add up, and you'll soon discover that what you don't see, you won't miss.
4 – Build your savings over time. As your salary increases, up your savings rate. That way, you still feel the boost of gaining a little extra in your budget, and your savings account will grow along with it.
5 – Create and write down your savings goals. People who write down clear, measurable goals are ten times more likely to be successful than those who don’t!
Source: www.americasaves.org
