by KennethQ » Sat Feb 04, 2012 04:39 pm
Saving more money is one of those things that take just a couple additional minutes a day, if done carefully. These few ideas will help you save even more cash. Source of article: 4 easy ways to increase how much you save
1 - Save first with direct deposit
Many people have direct deposit, so their paychecks are deposited into their checking account instantly. Switch this to your savings account, and then manually transfer over the amount of cash you have budgeted for the time period. When you have to transfer cash when you go off budget, it will force you to take a second thought about going over.
Good money management starts with fulfilling your financial obligations, including paying off outstanding bills.
2 - Money contributes instantly
Make sure you have regular contributions going to your retirement or savings accounts. You are able to treat it as if that money never got to your bank account and budget without it. These transfers can be done automatically and electronically if you set it up.
3 - Only use cash to pay
Use cash instead of a card. Debit and credit cards are there specifically to give you disconnect with cash. With cash in your hands, you will see exactly how the cash is leaving you. You will be able to make real-time decisions. Only pull out enough spending cash for the budget that month at the ATM or bank.
4 - Save change up
Save all the change that you get in one jar. Eventually, pennies add up. You are able to take the jar, once it is full, to a CoinStar or other machine to count the coins for a fee. Most banks have a change counter for you to count your cash for free. Then, it could be deposited into your account more very easily. Start savings those coins, and you will start to save more cash.
1 - Save first with direct deposit
Many people have direct deposit, so their paychecks are deposited into their checking account instantly. Switch this to your savings account, and then manually transfer over the amount of cash you have budgeted for the time period. When you have to transfer cash when you go off budget, it will force you to take a second thought about going over.
Good money management starts with fulfilling your financial obligations, including paying off outstanding bills.
2 - Money contributes instantly
Make sure you have regular contributions going to your retirement or savings accounts. You are able to treat it as if that money never got to your bank account and budget without it. These transfers can be done automatically and electronically if you set it up.
3 - Only use cash to pay
Use cash instead of a card. Debit and credit cards are there specifically to give you disconnect with cash. With cash in your hands, you will see exactly how the cash is leaving you. You will be able to make real-time decisions. Only pull out enough spending cash for the budget that month at the ATM or bank.
4 - Save change up
Save all the change that you get in one jar. Eventually, pennies add up. You are able to take the jar, once it is full, to a CoinStar or other machine to count the coins for a fee. Most banks have a change counter for you to count your cash for free. Then, it could be deposited into your account more very easily. Start savings those coins, and you will start to save more cash.
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