Examine your spending over the past 2 to 4 weeks. You'll probably find $5 to $20, or more that you can convert into a weekly contribution to your savings account, so you can cover emergencies or meet a savings goal, and reduce your dependence on credit cards.
MAKE YOUR SAVINGS AUTOMATIC: Commit to making a recurring automatic transfer from your checking to savings. Or better yet, set up a recurring deduction from your paycheck to your savings. This ensures that you always "pay yourself first" before you do other spending.
SET GOALS FOR YOUR SAVINGS: Give your savings a specific purpose so you can avoid dipping into it for frivolous reasons. Set clear money goals according to your needs and wants (in that order). Then when the time is right, you can fund your goals with your savings.Share Your Savings Story:
We'd like to hear about your spending analysis.- What discoveries did you make about your spending?
- How much money were you able to convert to savings?
- What would you do differently so you can maintain or increase your savings?
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