My Credit Report Info

Most of us overlook the obvious ways to save, as evidenced by the fact that the average savings rate in the USA had dipped into negative territory for the first time since the Great Depression. That means that most Americans spend more than they earn each month while not saving a penny. To turn that trend around, here are three simple savings ideas:

• Start a Coin Jar
  Although it may seem like a silly idea, dropping coins into a piggy bank or coin jar can be a great way to start saving. Accumulate enough coins during the year and it is possible to save a significant amount that might otherwise be dribbled away unconsciously. Many major grocery store chains have machines in the lobby that will automatically count coins for a fee, and when the time it takes to count and roll coins into wrappers is factored in; the added small cost may be worth it. Drop the coins into the machine, take a receipt to the cashier, and walk away with paper money.
• Open a Savings Account
  Almost everyone has a checking account, but the value of a savings account is that once the money is deposited, it is slightly harder to get to and spend. Without the easy convenience of an ATM card or checkbook, it usually requires an extra step or two to withdraw the funds, and that may be all it takes to create a new saving habit. Plus, money in an interest bearing savings account can grow with interest, so leaving it in the bank adds to the long term savings.
• Pay Yourself First
  Those who are serious about saving should get in the habit of paying themselves first. Set up an automatic withdrawal system with your bank, so that each month a specific amount of money is deducted from your normal checking account and swept into a savings account or retirement account.

Accumulating money does not have to be difficult, especially when done in painless small steps and with easy money-saving strategies and techniques.

Name (required)

Mail (will not be published) (required)

Website