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Are you having a hard time finding money to get started saving? How about funding a new savings account? If so, it may help you to know that saving your money is very similar to growing your garden. Find, nurture and defend your money – and it will grow quickly with each passing year. Here are some tips to help you get started.
Prop Up Your New Savings Account
To build an account you can enjoy for a lifetime, prop it up with nutrients to help it grow.
1. Feed your account with bonuses and unexpected windfalls. Deposit money saved through cancelled subscriptions. How about money owed and paid back to you? Be sure to include these amounts, even if they’re small. Small is great — and very do-able.
2. Nurture your savings weekly with money saved from using coupons. Do you buy items on sale? Take that money you saved and use it to grow your account. Tuck small amounts into an envelope. Deposit weekly.
3. Shower your fund with birthday, anniversary or holiday gifts of money. And don’t forget refunds, too! This is money you normally wouldn’t have had (or already spent.) Remember, out of sight, out of mind.
Protect Your Money From Its Natural Enemies
Just as you might ward off insects or disease in your garden, you must protect your fledgling savings account. It’s precious — and a result of your patience.
4. Avoid spending too much time with others who make it seem ‘natural’ to go through money. Spending may be a comfortable habit for them — but keep your spending thoughtful, and know the where and why of spending your own money.
5. Pace yourself as you spend your weekly allotment of money. If you run on $35 per week (for example), that gives you five dollars per day. Stay just under that five, and you’ll always be a few dollars ahead.
6. Practice *tough love* with chronic spenders who repeatedly borrow your money. Give yourself permission to state firmly that borrowing your money is *not* an option. Remove the stakes that prop up others’ spending. Say yes to protecting and taking care of your money.
Nurture and Grow Your Money
Small amounts add up big time, so keep money coming into your account on a regular basis. Keep it growing!
7. Remember *why* you set up your account. Know your balance at all times. Will it help you pay for a gently used car, eliminating future car payments year after year? Is it your Freedom From Working For Others Fund?
8. Begin with one great strategy, and use it to create a steady stream of money to feed your account. Will you use direct deposit through payroll? Will you fund it by using only dollar bills, and setting aside all change at the end of each day? If so, scoop up your change and deposit weekly.
9. Monthly, find a new, creative way to put more money in your account. Repeat for a month, then find another method. Keep the methods that work best and toss the rest. (For a starting point, try spending five or ten dollars less at the store each week. Or buy one new generic item each week.) Tuck the amounts saved into your account. It’s simple, and it won’t leave you feeling deprived.
Lastly, feel the wonder of knowing you actually have a growing account! It will be your champion in good times, and comfort you when times are tough.
Plant your new savings account today! Prop it up. Protect it. Watch it grow.
About the Author:
Darlene Arechederra shares simple strategies for living well on less and enjoying a debt-free lifestyle. To enjoy her Free Report, “Five Deadly Myths of Saving (and How to Save Anyway!)” simply Right-Click Here: 5 Deadly Myths of Saving.pdf
Moms who have considered returning home from the workplace may also enjoy her Free Report, “5 Secrets to Coming Home.” Claim your Free Report at 5 Secrets to Coming Home