Savings Strategies

How can you make savings a consistent part of your budget? Here are some suggestions to consider:
  • Set financial goals - both short-term and long-term.  They really help you stick to your budget and will motivate you to save.
  • Use payroll withholding or direct deposit, if your employer offers it.  Determine a set amount of money you will have deducted from your paycheck.  This way, you don't even 'see' the money; it automatically goes into your savings account.
  • Save any additional income, such as raises, overtime, bonuses, or extra paychecks (due to the calendar).
  • Save your tax refund.
  • After you pay off an installment loan, continue to pay the monthly amount to your own savings account.
  • Save your loose change!  It's a surprisingly easy way to save.


 <- Back      Next ->