Saving even a small amount of
money can go a long way toward meeting your savings goals. Here are some
tips to help make saving your money a habit.
Write down your savings goals and stick to
them. Writing down your savings goals makes them more real and can
motivate you. Don't overdo it. Set up goals that are realistic and
review them regularly to track your progress.
Arrange for automatic
deductions. Arrange to have a small amount of your paycheck go
directly into savings each pay period. Even if you can put only $10 from
each paycheck into a savings account, it is a good start to help you build an
If you don't have direct deposit, check to see if your
bank has auto transferring so that you can set up auto transferring of money
into a savings account.
Save your loose change. At the end of
each week, deposit all of your loose change into your bank account.
Though it may seem like a few coins, it can add up to sizeable savings quicker
than you would expect.
Pay yourself. Treat savings like an
expense, such as a monthly bill. This way, you'll get into the habit of
putting away a certain amount each month.
Create a spending plan to map out how
much you can start saving today.