Tuesday, August 2, 2011

Great Ways to Save Money-Pay Yourself First

Pay Yourself First.

Savings should be a priority, so don’t just tell yourself that you are going to save whatever is left over at the end of the month. You need to actually do it.

It is a good idea to make it a rule to deposit savings into an account as soon as you get paid. An easy, effective way to start saving is to simply deposit 10% of your paychecks into a savings account.

For example, if your paycheck is 710.00, you would deposit 71.00 of that directly to your savings account. If your check is automatically deposited you can set it up through your bank so that a specific amount goes directly to your savings account. This works well and requires little thought. In time, your saving will really add up.