Start Saving!
So you are loaded down with bills to pay each month and are wondering
how you can begin a savings account for emergencies and other high-expense
endeavors. In other words, where can you find that extra cash to put away for
later?
Firstly, when configuring your budge, plan for your savings first. You will
grow richer each month if you begin to pay yourself first. Before paying any bills,
decide on a set amount that you will pay yourself first—maybe five or ten percent
—or whatever you decide—of your paycheck. Then, deposit the amount into a
savings account before paying any bills.
When you do this at the beginning of the month, your entire paycheck will
not suddenly slip through your fingers. If you wait until the end of the month,
there may be nothing left to save. Paying yourself first will give you a systematic
way to make your money grow. Regardless of your profession or your income,
this system will work if you stick to it.
Another technique you may try for saving money is to empty your extra
change into a coffee can or a jar each day. At the end of the month, roll the coins
and put them into your savings account. You may be able to save 30 or 40
dollars each month just with your spare change.
Remember that good money management is more than just a
mathematical formula. It’s too closely tied with the ups and downs of living to be
just that. Your money management plan is always subject to change if your life
situation changes. The object of a good budget is to make your money go the
farthest in helping you reach your goals, it is not there to force to you to abide by
rules.
Don’t get discouraged if the budget plan doesn’t work perfectly right away.
It may involve some revising and editing until it fits your needs. Then, make sure
to review it often, and be sure it is making the best use of every penny! Because
we know how helpful those spare pennies can be!
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