How To Make A Checklist For Saving Money

Saving money has become a lost art. Instead of learning to save money for special purchases or to serve as a safety net for emergency expenses, people have learned to rely on debt products like credit cards and bank loans. It is time to reinvest in learning to save money.

1. Open a Savings Account

A good way to start saving money is to open a savings account. Having this account will allow you to track your savings online and it will also allow you to keep your money in a safe location so you won’t be tempted to spend it.

2. Set Up an Automatic Savings Plan

Once your savings account is opened then set up automatic deposits into this account. You can set it up so you save $10 a week or $100 a payday. It is up to you.

3. Save Your Change

You would be surprised at how much change you can accumulate in a year. The problem is that change is easy to lose and to misplace. To cash in on your change all you have to do is find a container that you can place your change in at the end of the day. An empty coffee can, a canister with a lid or even an empty oatmeal container will work just fine.

4. Fund Your Savings with Unique Sources of Income

If you are serious about saving money, then try funding your savings with a unique source of income. Your unique source of income can be a second job, income from recycling or from an eBay auction business. The goal here will be to dedicate all that you earn from this source to your savings.

5. Set Goals for Your Savings

The final tip is to set goals for your savings. Setting goals will help keep your focused and motivated on your savings.

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1 Comment for “How To Make A Checklist For Saving Money”

  1. Getting Divorced

    Divorce can be very taxing emotionally and financially. Making a checklist for saving money could be an easy way to help budget yourself during this tough time.