You are either a saver or a spender. At times we are both but we will gravitate to one direction most of the time. Of course if you are more of a saver these ideas might be old hat, or not. And if you are a spender, well listen up.
This doesn’t take much; $5 a month even works, it is the habit that you are getting into that matters the most. Saving starts with ‘not spending’ the money and it can be easier to save if you don’t ‘see’ the money:
Take it out of your paycheck first, automatically. Some banks allow you to have money split between accounts for your paycheck. But also 1% going to a 401k can do wonders, especially if the company matches 25-100%; that is free money.
If you get a raise, put that away before you get used to spending it. Sock it away in your 401k or have it moved to a savings account or the like.
Unexpected Money. Don’t use the tax refund to pay down your credit card bill; you may just run it up again. Don’t use the inheritance to buy a car; it will just need repair and higher insurance.
If that isn’t up your alley, then try some of these money games:
Round up in the checkbook. Everytime you write something in the checkbook, round up to the next dollar amount, when you balance you will always have extra in there. At the end of the month transfer the money to your savings.
Only spend dollars, NO change. If you receive change back, find it on the street, or in the cushions, DON’T spend it but put it away in a piggy bank or a jar of some sort that you can’t dig into with your hands and spend on soda pop or vending machines