| When it comes to saving money, it often seems | | | | Make yourself a budget that tracks your |
| as if some can and some can't. What secret do | | | | spending each month. No matter how much money |
| the "can's" know that the rest of the world | | | | you make, you need a budget. It is easy and |
| just can't figure out? | | | | simple. And it isn't a way to limit your |
| | | | spending, so don't think of it as a diet. It |
| Saving money is a basic part of managing your | | | | is simply a way to see where your money is |
| finances. It is necessary for financial | | | | going and how much you have. |
| success. It is necessary for many of the | | | | |
| things you want to do. | | | | Decide on how much of your monthly income you |
| | | | can put towards savings. Many people do this |
| Most people assume that in order to save, you | | | | by a percentage. I say simply see how much |
| need to have "extra" cash. Let me tell you, | | | | you have left that you can put back. No |
| there is no thing as extra cash. That's like | | | | matter if it is just $50 a month, start |
| having extra cake. It is a misconception. | | | | putting something into your savings. Even $50 |
| | | | a month becomes $600 for the year, without |
| The key is having a spending plan and a | | | | counting the interest. |
| saving plan. The spending plan is your | | | | |
| budget. It helps you find the money you need | | | | The simplest, and most painless, way to put |
| for savings. It isn't extra money, it is | | | | your money in savings is to have your |
| simply money reassigned. When you set | | | | employer deduct a set amount from your |
| spending goals, you find that it becomes | | | | paycheck and deposit into your savings |
| easier to save regularly. | | | | account automatically. If your employer |
| | | | doesn't offer this service, have your bank |
| Here is where the secret comes in. | | | | automatically withdraw the amount to your |
| | | | savings the day you are paid each month. |
| You have to set a few short-term and | | | | |
| long-term financial goals. Give yourself a | | | | Out of sight and out of mind truly works. |
| time frame and dollar amount for each goal. | | | | |
| The secret to saving money is to save it for | | | | When you find unexpected money in your life, |
| something. You have to know what you are | | | | such as a tax refund or bonus, you should put |
| working towards. Write it all down and review | | | | the majority of it into your savings account. |
| it regularly. | | | | This allows your savings to grow without any |
| | | | real sacrifice on your part. |
| Set up a separate savings account for your | | | | |
| savings. If you are anything like my family, | | | | It really isn't a secret. It's just that so |
| if you keep your savings in your checking, | | | | many people don't know how to go about saving |
| you will spend it. It is just too tempting | | | | money. The secret is to get started today. |
| and too easy to get to. Have your savings in | | | | Work on it for two months. Then it might just |
| a separate account. | | | | start to be a habit. |
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