5 Ways To Make Saving Easier
We have 5 exciting ways for you to make saving easier! We want to empower you to make decisions now that create positive habits and set you up for success in your financial future.
It just takes some simple mindset shifts, tips, and strategies to make saving a little easier. We’ve broken down our favorite five tips to make saving super simple!
Do It Automatically
Most employers will allow you to split your direct deposit. You can have a portion of your paycheck that goes directly into savings each time you get paid. If your employer doesn’t do this, you can often automatically transfer an amount from your checking account to your savings account.
Make Saving A Habit, Not A Destination
Our relationship with money begins when we’re young, and old habits can be hard to break. However, confronting your money issues head-on can help you recognize your patterns and create new habits. When you make saving a habit rather than a destination, you understand that your success lies in the small decisions, not once you reach a certain goal.
Start Small And Think Big
When first thinking about saving, it can seem overwhelming. There are plenty of big things to save for – retirement, college, and more! To avoid the overwhelm, start small. Make your first goal something manageable, like to save up an emergency fund, or to pay off small debts. After a few months, you’ll be on the path to changing your financial life and will have achieved small goals already!
Avoid Lifestyle Creep
Lifestyle creep can happen at any time, and is a phenomenon that happens when your standards grow as your income grows. For example, some people start spending more on cars or rent when they get promotions or increase their income. It is important to recognize lifestyle creep and set standards for yourself as you begin to earn more. Instead, you can save your newly earned income for future endeavors!
Reduce Your Debt
Paying down debt is saving. Debt is an expense, and when you eliminate your debt, you can put that money toward saving or other financial goals. Reducing your debt can also help you increase your credit score, which can get you better rates on future loans or lower security deposits on future apartments.
These 5 tips are ways that you can make saving easier. The best way to save is to not have to think about it by automating your savings. The next best things you can do are to wrap your mind around what you *can* do right away – which are typically small steps that create good habits and set you up for success.
*Content Provided By AmericaSaves