Saving Money: Three Ways to Increase Your Savings

In a society when finances are at the front of everyone’s mind, whether you live a comfortable life with plenty of money to go around or you worry constantly about how you will live until your next check. Everyone thinks about money, and everyone wishes they could save more. Even the best savers are happy to put more money away so that they have more to live on when the time comes. Rainy day funds, emergency funds and retirement funds are always in need of growth. These tips will help you save more.

Allowance

No, you aren’t a 12-year-old boy mowing the lawn anymore, but you should still give yourself an allowance. Instead of considering everything left in your checking account as free reign, take a little out in cash and use that for fun. Buy your lunch, go to happy hour, splurge on a new pair of shoes; do whatever you want with it. However, when it’s gone – it’s gone. The rest of your money is strictly for your savings account.

Make Your Money Untouchable

Instead of keeping your money in an easily accessible savings account, try putting it into a CD (certificate of deposit) that doesn’t allow you to touch the funds for a specified amount of time, such as six months or a year. The money will earn interest; much like it’s doing in your savings account. However, you’ll have to make like MC Hammer ‘cause you can’t touch this.

Print a Picture

What is it that you really want? Do you want to retire early so you can travel freely? Do you want to purchase a home of your own? Do you want to have financial freedom? Whatever it is you want to have; print a picture of it and put it in your wallet. Put a copy in your car, on your bathroom mirror, and anywhere else you look regularly. This will help you remember that every forgone latte or pair of shoes is one step closer to acquiring your real dream.