Spending money is often easier than saving, but a few simple fixes can reverse your financial situation for the better. Improve your saving skills with these tips.
Pay Yourself First
Paying the bills is a necessity, but you can benefit from paying yourself each month, too. If you save your disposable income first, you’ll be inclined to spend less because you know you need to reserve more for your bills.
Keep Separate Savings Accounts
Combining all of your savings in one account can make it difficult to keep track of how much money goes where and makes it more tempting to dip in unnecessarily. When you separate your savings, you’ll know exactly where you stand and have the willpower to say no.
Consider Multiple Banks
If you have both your checking and savings accounts at the same bank, it can be easy to go into your savings account while withdrawing from your checking. If you keep your savings at another bank, you’re less likely to go out of your way to take out funds.
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