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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.

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