At any time in history, no matter what the current state of the economy, no matter what the current trends, no matter what the unemployment rate is or where interest rates lurk, some money-saving ideas stay true. Some of you may have heard of these ideas before, others may be entirely new to you. But whether you are familiar with these super secrets or not, it will be well worth your while to put them into effect in your own life. The magic they will work on your financial life is guaranteed. I urge you to put them to work - any one of these could change your life! Big changes come from small steps. One plus one does equal two, so if you add one from eleven different places, you will see big results. This is a four part series giving you advice on saving your hard-earned money in a variety of down-to-earth ways. Nothing here is anything that anyone can't do on a daily basis. Amazing Money Tip #4 Ben Franklin said it long ago: "A penny saved is a penny earned." Yes, it's still true, and still one of the most powerful money-making tips in all history. Implied within Franklin's famous statement is the difficulty of saving. It's tough to save and easy to spend! You know that! That's why every penny saved truly is earned - because it takes so much effort to hold on to that cash! But if you can do it, it will work magic in your life. Having a savings account will de-stress your life. Imagine being ahead of your bills, rather than behind. When you are ahead of your bills, you entire life comes under your control. You sleep better at night. Your mind is freer to come up with new ways to make more money and save more. Saving is contagious - once you let it get started! Here are some tips to help you save:
Don't settle for interest checking. Have a separate savings account that can't be as easily accessed as a checking account.
Keep your savings in another bank - one that's off your regular route, or perhaps even in another town. That way you won't be tempted to dip into it every time you visit the bank to make a checking deposit.
Buy short-term savings bonds, which have 6-month to one- year maturity dates. That way you will get a higher rate, while at the same time keeping your money close in case of real emergencies.
If you can, open the account under two names and require that both signatures be required to make a withdrawal. Two people can debate each withdrawal and keep each other in line.
When you get your paycheck, immediately put a minimum of 5% in your savings account. After just a year, you'll be surprised by how much you have actually saved and feel great about it.
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