Your Savings Starts Today

5 04 2011

Many people want to save money but are either de-motivated because expenses weigh them down or they are confused because they are unsure of where to find the money to fund such an account.

My response to their confusion, sadness and defeat is simple:  “your savings starts today! ”  There is no better time than the present to fulfill your financial goals.  Start small and think big!  Start with a piggy bank (they are free(!) at many banks – ask an associate) or an empty tissue box.  Each day deposit change or spare dollars into that bank.  The next day do the same thing.  Continue adding change and any extra cash.

Some people may feel they don’t have extra cash during the month to contribute towards a savings account.  The easiest way to see where your funds are going is by keeping a spending diary for a month.  Each day write down how much money was spent.  You can use a calendar or sheet of paper for this record keeping.  At month’s end, decide if there are expenses you can cut or lower.  Perhaps you have been spending too much money in areas you weren’t aware of (i.e. clothes).  Use those funds to open your savings account.  Continue to add to your savings account with those eliminated expenses. 

Your savings starts today will motivate you.  At the end of each week tally up your funds.  Some weeks will be more productive than others, but don’t let that discourage you.  Keep up the positive thinking compounded with positive behavior.

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