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5 Tricks To Save Up

February 10, 2008

Piggy Bank Saving

Above: Save your money!

  • Think of savings as a need, compare it to a bill that you would need to pay or else you’ll be doomed. So once your income starts to come in before anything else, before you even think of paying your bills, pay yourself 10% up of your income to set aside in the bank. Of course your savings account should be separated from other accounts.
  • Save your coins or your pocket change, don’t let it go to waste. Coins are money, every cent counts, set this aside and put it into good use like using your coins to pay parking. If there are extra coins, put it all in a piggy bank, a jar. You’ll be surprised of how much a filled up jar or piggy bank would be once you deposit it.
  • Once you pay off a debt, as much as possible don’t spend that extra cash you earn every month, add it to your savings. The more you add up on your savings, the nearer you are to your financial goals, so don’t feel bad when you start stashing your accounts with added cash. It’s all good and it’s all for you.
  • Make it into a game. Give yourself a challenge, for how long do you think can you abstain from spending? How long can you keep yourself away from writing that check?
    And the form of reward would actually be the part where you have actually saved. Your savings is your reward.
  • Hide your credit cards, set it aside for major purposes only, like emergencies, college education, and sudden necessities.

Posted by Budget Saver under Saving |

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