Tuesday, October 4, 2011

Automate your savings with these simple ideas

                                                         1: Direct Deposit Into Savings

     This makes the amount you want to save easy, gets you discounts on ATM fees, and save you the agony of a lost paycheck.

 2: Schedule Periodic Transfers

     Transfers of just $50 a month from a checking account to an IRA or Roth IRA will add up to large sums over time.

  3: Saving Money Using Credit Card Rewards

     I love this one. As long as you pay off your entire balance every month why not get paid to charge. You can buy gift cards at reduced rates or just reward yourself.

  4: Ignore Raises, Bonuses, And Surprises

     This is the best way to save long term with no reduction to your take home pay. When you get a raise, just pretend you didn't and save that income in a tax efficient manor. If you can't do this, there's no chance you're ever going to save (read my first post back in May). Later, Finwiz

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