you heard the saying "Pay yourself first"? That
means whenever you get some money, the first thing you do
is save some of it.
You may think you can't afford to save money, but even saving
$5 or $10 a month can add up. Savings accounts are a good
way to stash away some money for emergencies and unexpected
expenses. If you tell yourself the savings account bill is
due at the first of the month, you can get in the habit of
saving without getting stressed about it. Then, if something
important comes up, such as a car repair, you'll have some
Keep your savings in an account where it can work for you
earning interest. A savings account is harder to "break
open" than a piggy bank!
Get Started Saving
No one is saying it's easy to
save, but there are some less painful ways to do it.
How about putting your change at the end of every day in
a designated box? Then take it to the bank at the first of
the month and deposit it in your savings account. Even if
you save a few dollars a week, at the end of the year, you'll
be surprised at how much you accumulate. Here's a quick look
at how savings can add up to not-so-small change. And you'll
earn interest on top of your deposits.
Amount Saved per Week
(assuming 4 weeks/month)