Save money without thinking about it

That might sound like a crazy idea…saving money without thinking about it?!? It can’t be that easy. Can it? Here are three ways to save money without you having to do anything after setting it up.

1. You can automate a specified amount to go from your checking to savings account each paycheck. At first you might notice the amount not being in your checking account but you will get used to it. By automating the transfer you don’t have to have the mental argument with yourself each time about how you’d rather use the money. Sure, it would be more fun to have that amount available to spend on some treat for yourself. Think long term and big picture instead of in the moment.

2. Round up your purchases and transactions to the next dollar and have that amount moved to your savings account. There are bank accounts that make this option as part of their offerings. There are also apps that do this too. If you want to know more about either of these and the accounts and apps I use, please email me at [email protected] and I’ll fill you in.

3. Save a dollar for each week in the year. Start out with $1 for week number one and work up to $52 for week 52 and then start over. At first, it doesn’t seem like this will get you anywhere but as the number of weeks start to add up so do your savings. You can do this yourself or use a bank account that will automate this for you. You can start this at any time. You don’t have to wait until January 1st to get going.

Use one or all of these ideas and you’ll see your savings account balance building up before you know it. The added benefit of moving the money to a savings account is that they will pay a higher interest than on a checking account. That means that you will be earning money on the money that you are saving. That’s a win-win!