Sometimes, the hardest thing to do around saving money is just getting started.
Here are 5 quick and simple ways to do just that.
- Keep track of what you are spending & create a budget – the first step to starting a savings plan is to track your expenses, understand when payments are due and where you are spending your money. Using a calendar to keep track can really help you get started.
- Understand what you are saving for – it can be a lot easier to save if you have a goal in mind! Are you saving for a trip? A new car? Retirement? Think about your long-term and short-term savings goals. Write down your goals and keep track of your progress.
- Watch your spending – if you know what you’re spending and what you’re saving towards, you can start to see what you can cut out, trim back and where you’re hard earned dollars are going.
- Put aside your savings – now that you know what you are spending, you should take a piece of each paycheque and set it aside in a separate account. Keep the savings separate, and watch it grow!
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