Put Your Savings On Autopilot

Putting a little money away for a rainy day isn’t always easy. You may have some good intentions, but at the end of the day, there just isn’t any money left. Somehow whatever you make is spend before you make it to the next paycheck.

Start by making a personal budget. Take a look at what you bring in each month.

Next, write down your fixed expenses. These are things like rent, car payments, utilities etc.

Figure out how much you need each month for groceries and other essentials. This is your bare bones budget. It’s good to know what you need to get by each month.

Next it’s time for a little bit of math. Start with what you bring in each month and subtract all your core expenses.

What you’re left with is your discretionary income. This will pay for entertainment, clothes, getting your nails done etc.

And from here on out, part of that discretionary income will go into a savings account.

Pick a number you’re comfortable with. Maybe that’s just $20 per month, maybe it’s $500.

Put it in your budget and treat it like any other bill. It won’t take you long to get into the habit of setting aside that money for savings.

To make it even more hands-off, talk to your bank about setting up a separate savings account.

Then set up an auto-deposit to have the savings transferred to the new account as soon as your pay check comes in each month. If you don’t see it, you’ll never miss it and your savings will run on autopilot.

Don’t forget to audit your savings from time to time. Take another look at your budget. Can you increase your savings a little more?

Another great way to boost that savings account is to take any extra money – thinks like birthday cash, tax return, bonuses etc. – and put them straight into the savings account.

Again, you won’t even miss the money, but it will help you build up your savings quickly.

Make sure your savings are sitting in an interest bearing account. Since you won’t be touching this money unless it’s a dire emergency, you should be able to earn at least a little interest.

Talk to your banker about your best options and start putting your savings on autopilot.

One last tip: Talk to your employer about matching 401K funds. You may be able to get a contribution from the company you work for towards your retirement savings account.

Learn more here about how to make a budget and save money

Continue to Research: Let’s face it, most people
don’t like hearing the word budget let alone creating and following one. But,with the economy the way it is more and more families are finding that to survive they need a budget and a way to cut back on expenses as much as possible.

Because you’re reading, it means you must be ready to get
serious about your family’s budget.

Now you just need to keep researching and learning more about how to manage money better and to get to work and set you budget.

You can start with downloading my free how to save money on groceries book download here, and remember I have a ton of more pages about how to make a budget and save money below in the resources section.

What do you think of this article?

What is the one thing you love/hate about budgeting and saving money?

Did you find this post fun, informative and useful? If so, please share it with others!

If you have a comment, question or suggestion, please leave a comment below!

Cheers, Helene Malmsio

"Power Tips" magazine is back!
You Get A Free Complete Self Help Report delivered to your email box every edition, plus you get a free PLR article and other great gifts!

SUBSCRIBE BELOW ...  I promise you will want to USE what you learn!

I really want to know what you think of this site, this page, and to hear your tips or suggestions about it.

So please share your story or simply add a Comment in the comment box.

If you feel that the information on this page has been useful to you please give it a Like or share it with your friends - thanks!!

"You are a life Saver!!

I recently discovered this site and I can tell you that my life has not been the same. I now come here EVERYDAY and spend at least 1 hour.

I used to spend that time browsing online fashion and beauty magazine which just means that I spend more. Now I have replaced that habit with coming here.

In future I will think about contributing articles as well. Thank you! Thank you!! Thank you!!! and God bless"

Contact Us | About Us | Terms of Use | Privacy Policy | FAQ | Testimonials

Amazon and the Amazon logo are trademarks of Amazon.com, Inc. or its affiliates. As an Amazon Associate I earn from qualifying purchases. Product prices and availability are accurate as of the date/time indicated and are subject to change. Any price and availability information displayed on [relevant Amazon Site(s), as applicable] at the time of purchase will apply to the purchase of this product.