Updated: Jan 30, 2020
We all wish we could save money. Whether it's for a new home, new car, dream vacation, or college it can be a difficult task to achieve. Gratefully I am here to tell you that it is easier than you think with a little practice.
Just like we had to crawl, walk, then run, we needed someone to help us go through the motion to prevent us from falling. That's where we come in, holding your hand through the infant stages of saving; before you know it you'll be saving more and more and reaching your goals.
We all have different ranges of income and expenses and these simple steps can be used by those just starting to those that have become champions. Imagine if you were to save $1 a day. In one year you'll have $365 dollars - it is as easy at that! So, who is ready??
Step 1 - make sure your savings account is not accessible through your debit card or is used as your overdraft account (opening a second savings account is the first task)
Step 2 - set up an auto-deposit through payroll or checking account. It's OK to start small with $5 - $10 a week increasing the amount when you have an increase in salary, a bonus, or as you eliminate debt.
Step 3 - any monies received outside your normal pay and budget is unexpected income. Be diligent to your goal and deposit it right away as if you had never received it
Step 4 - sit back and watch it grow!
That's your homework for now. See you next week with more tips on saving and making smart money move!
Until next time, follow up on our social media platforms and we will catch next week with another tip!
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