Painless Money Saving Techniques

By: Charley Hwang

"Money doesn't grow on trees" is a statement the majority of us have heard at one point in our lives or another. The practical application of this quote is that we should consider money something significant in our life and make decisions based upon that fact. Face it, we all have good intentions when it comes to money but few of us do what we intended to do.

We told ourselves we would follow a budget, apply extra cash to debt or save it; and we didn't do it or did not do it as often as we should have. What happened? Why did we fail to save money? For most the answer is we tricked ourselves into believing that since we had this small nest egg in savings that we no longer needed to focus on building out the "nest" and adding more nest eggs to our proverbial financial basket.

To help us do what we should be doing in the area of savings, an instant savings account may be a wise choice. Money is automatically deducted from our checking account and applied to our savings account on a particular day of each month and we do not even have to think about much less miss the money that is being transferred.

This is the "out of sight" method of savings as if it is out of sight, it is out of mind; we forget about it and let it grow. While it would be nice if we, as consumers, could keep our commitment to depositing a check consistently to our savings account but most of us can't - we get sidetracked and fail to do what we said we would do and what we know we should do. Instant savings accounts removes that deposit responsibility by establishing the guidelines once and then just letting the automated process do the rest. With this process, we learn to live on less and in turn, save more.

If you are a person who would put of saving until the next paycheck or the next tax refund, an instant savings account is what you need to begin growing your own money tree that eventually you will be able to reap the financial benefits from and enjoy these benefits immensely. Talk to your local banker and see what they offer in this area of savings and whether this sort of savings account is right for you.

When it comes to understanding savings accounts and interest options a wise consumer will study, learn and plan so that they earn as much as they can with any savings account investment. In this information age, there is a lot of options for increasing your knowledge base. Check the links below for more information on Instant Savings Accountand other related information.

Money Management
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