Simple Ways to Jump Start your Savings by Dennis Snyder
Pick up a newspaper turn on the news or tune in the radio you will hear how bad the economy is how hard it to get ahead in the down turn. I understand how hard it today but that does not mean that you should wait to start your savings. You can get control of your money.
Most financial people tell us that we need to have 3 to 6 months of living expenses in an emergency fund I would whole heartily agree with them in fact I have raised my belief that now is time to have at least 8 months worth socked aside. Unfortunately if you are not independently wealthy even a couple of thousand in an emergency fund is not to impossible let alone 3 to 8 months of living expenses. However rest assured that the situation is not hopeless never has been hopeless. Let me give you a few simple ways to jump start your savings account.
The most important step to start your savings is to actually start Don't think that too little is too little not worth the effort. Even $10 each month is $120 a year. Hey $120 is better than a sharp stick in the eye. & let's face the facts if you think that $120 is not very much then you can probably afford to save a whole lot more than that. Bottom line is that you need to start.
You have probably heard this second way to start your savings a hundred times but that is because it so true. Pay yourself first Set up your own bill payment to yourself deposit it into your savings account every payday. It is much easier if you can get your employer to direct deposit this into your savings account or money market. After just a short time you will never miss what is taken out of your check each week.
Still another simple way to jump start your savings is to stop eating out spending extra money on fancy drinks like cappuccinos energy drinks at $4 a pop. Then put what you save into your savings account every week. Add it up you will see yourself socking quite a bit away.
Every payday I set aside a grocery allowance for my wife to use for food household supplies. She in turn is very careful in what she buys. She will clip coupons buy what is on sale in order to cut the costs then she stashes the extra in a secret place until she has a couple of hundred we put it into our emergency fund. We like the food she buys so if she tries something that is cheaper we do not like it then she goes back to the more expensive stuff. Remember sometimes cheaper is not always cheaper.
Use some sort of container to put all your spare change in every day. I have a porcelain cup sitting where I empty my pockets every night before bed. I just throw all my change in it at the end of the month take it down to the bank deposit it into my savings. It adds up to $10 to $15 each month just adds to my emergency fund.
No you do not need to start with thousands of dollars but if you don't start your savings you will never have anything put away for that rainy day. Every drop in the bucket will go towards filling the bucket. However if you do not put the bucket were the leak is the water will just flow where it will. Likewise with your money if you do not plan your savings your money will flow through your fingertips.
Yes you can Get control over your money info reports. com money_management. html Every one can start your savings get ahead even in today's economy this report will help click Money Management Made Easy info reports. com money_management. html Simple Ways to Jump Start your Savings
