• April 2, 2017

The Most Effective Ways That Encourage You to Save Money

If you find yourself desperate for some fresh ideas on how to begin saving successfully, look no further. This is a list which I have compiled to show some of the smallest but useful tips that can help you increase your saving intentions, and all which you can start working on straight away!

Set Up a Regular Transfer to Your Savings Account

If you make your savings amount a regular expenses payment direct from your bank account, you don’t get to touch that spare money and ultimately spend it! Very quickly, this amount of money will be forgotten about as the job of making this payment is done for you.

Implement Small Increments to the Money You Put By

Think about adding a little bit more into your automated savings over a specific time frame. Look at increasing it by a small percentage say every six months. It is much easier to do this as it won’t be as noticeable, and it will allow you to acclimatize to such increments making it easier to do each time.

Ignore Your Bonus and Place It into Your Savings Account Immediately

Think of any work bonuses as something that you never had before, so you won’t really miss them and put them directly into your savings account.

Give Your Savings Account a Personal Name

Experts believe that by renaming your savings account, for example with a title such as New House Savings or Holiday of a Lifetime Savings. The visual element works here to encourage you and make you more likely to keep on track, knowing the end goal each time you log on!

Make Accessing Your Savings Account Long Winded

If you can’t access your savings account at the touch of a button, you’re less inclined to dip in and out of it when it suits you. Out of sight, out of mind works well here, but if you can add some additional processes to obtaining your money, you’re less likely to try!

A pretty interesting post, huh?

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