We say we want to save money.
We promise ourselves this will be the year we create an emergency fund or swear up and down we’ll finally set up our IRA or 401K.
But we never quite get around to it. Saving money is harder than we think.
Consider these simple tips for putting more money in your nest egg.
Put your savings on autopilot. There’s an old expression that goes, “You can’t spend what you don’t have.” Every payday have part of your paycheck automatically direct deposited into a special savings account.
Experts suggest ten percent, but times are tough. Start off small if you have to. Transfer 5%, 3%, or even 1% of your paycheck. As time goes by, you can slowly increase the percentage. You’ll become accustomed to living on less as you watch your savings grow.
Find a jar or large piggy bank. Place it someplace prominent. As you return home every evening, simply unload your pennies, dimes, and quarters. By the end of the year you’ll have easily saved a couple hundred dollars or more. Simple and painless.
Want to build your nest egg a little quicker? Consider the dollar game. At the end of the night, reach into your wallet and remove all the single dollar bills and place them in a show box. As the year draws to a close your shoebox will have a nice little stash waiting for you.
If all else fails, eliminate one thing. We have so much. Smart phones, 250 channel cable television, gym memberships, weekly pedicures, dinners out. Pick just one and give it up. Trade your expensive smart phone plan for a basic no-frills alternative or cancel that unused gym membership. Now, instead of making a payment to someone else, apply the new found monthly savings to an emergency fund or rainy day stash.
Your turn. How do you save money? Share your tips. Leave a comment below.
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You can slash the cable bill, cancel the gym membership, and turn down the thermostat all you want, but these steps will pale in comparison to the savings you’ll realize simply by cutting your grocery bill.





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