Friday, May 09, 2008

Easy Savings Tips

The following savings strategies provide advice on how to make it easier to save. You may also find the investment strategies helpful in this regard.

How to Make It Easier to Save

  1. Save early and often. Start saving the day the baby is born, if not earlier, and save as often as you can. The sooner you start, the more you can take advantage of compounding to watch your savings grow. It will also help you get into the habit of saving.

  2. Save as much as you can. If you don't think you can afford to save, start small. You will find that you will adjust your spending habits, and can gradually increase the amount you save. Don't worry too much about starting small, since the compounding of interest over time will help your savings grow. The first step is to get into the habit of saving.

  3. Save regularly. Rather than save money at random intervals, try to save a little every month. The more frequently you can save the better, but at the very least save once a year. If you can save with the same frequency as you receive your paycheck, you will find it easier to get into the habit of saving.
Read more at All Pro Dad

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