Saving Made Easy

A bunch of my friends and I were sitting around talking and the topic of “saving” came up. My friend Mike, who loves to admit that he lives paycheck to paycheck was complaining that he couldn’t save any money since he needed to spend his entire paycheck just to get by. Of course he is saying this as he is downing a $4 beer.

Many people claim the same thing like, “I can’t spare anything”, or “savings is too much of a hassle”. I tend to disagree with this argument as there are always ways to put a little aside. First thing first, take the money out of your check once you are paid. You can’t miss what you never had. Most people can get away with putting aside $20 a month. That essentially is the cost of eating out a few times.

Next, get a savings account that automatically deducts the money out of your account like the Ally Bank Online Savings Account. Along with a great rate, this savings account can automatically pull money out of your checking account without you having to do a thing.

Ok, so now you are saving $20 per month and it is automatically being taken out of your checking account on payday. Fast forward 1 year, guess what you now have $240 (not including interest) saved up. You can then start thinking about adding a little more to your savings each month to increase that balance.

I tend to think that people don’t save much anymore as they were not brought up in a family that set aside money for the future. Once you get a little money saved up, you would be surprised how quickly your focus changes. This little saving cushion can be used for anything like car repairs, doctor bills, etc, without having to put it on a credit card which just puts you deeper in debt.

Saving money is a personal choice, and I think it happens to be a very responsible one. No one is going to save money for you, so it is up to you to make sure you plan for the future. Just use the tools available to make saving money an easy and fun process for you.

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