How to Save

Posted on January 29 2010

Do you ever get frustrated with the thought of saving?  You know you need to do it, but the thought of how much you need overwhelms you.  But, sometimes the littlest things can go a long way.  Think of it like this.  If you save $10 a week – you will save $520 in a year.  This is without counting interest if you are able to put your money in an account that accrues interest.  Even a dollar a day brings in $365 at the end of the year without interest.  Saving can also be done by making minor adjustments to your budget.  If you cut out flexible expenses like dining out, cable, or internet, just think of how much you can save!  You can start by designating those dollars to go into savings every month in your budget.  Set achievable goals ($250, $500, or even $1,000) so you don’t get overwhelmed.  Remember, it is okay to start small.  The main thing is to start.  Use this New Year as motivation to change your habits and start saving.

By Lisa Pribula
FLCS Certified Credit Counselor