Saving is For Everyone

Everyone has heard to put 10 percent of your income away but few actually do this. Many of us are using all of our income for bills, gas, food, and cloths. 

Many minds are set to think that only well-off people can save 10 percent. In reality it is usually people with average incomes who do the best job at saving. Saving isn’t just putting away money, it is training your brain to have a habit of always putting money aside for later.

 Here are some easy ways to start saving:

• Open a saving account and don’t get an ATM card. Without an ATM card your money doesn’t have ready access and you tend not to take out of it. 

• Each day put one dollar aside in an envelope.  Then after each month deposit the money you have collected into your saving account

• When you are done with a major expense put half the saving into you saving account. For example childcare, once you child starts school put half of what you were spending on day care into savings.

• Look at you budget and look for things that you could eliminate. Even if they are small eliminate what you don’t need. 

• Keep an eye on your ATM withdrawals. Take out a set amount for the week instead of taking money out whenever its needed. 

• Collect all your coins and put them in a jar. After the jar gets full deposit them into your saving account.

These are just some simple ways to save. Every penny adds up so save as much as you can.

Women's Day