02 START SMALL. It will add up to big piles of money over time. To see how fast your money will grow, plug in your numbers at our how much will my savings be worth? Calculator.
03 WRITE DOWN YOUR GOALS. That makes them more real, and you’re more likely to achieve them. Be specific. For instance, telling yourself to save for the future is admirable but vague. On the other hand, making a written pledge to save $2,000 for your vacation your favourite place next summer is likely to get you there.
04 HAVE YOUR BOSS (or your bank) save for you by taking money off the top of your check for retirement or some other goal. You won’t miss it.
05 SET UP AN ACCOUNT FOR EACH GOAL —retirement, vacation, car, new computer — so that you can track your progress. This also works for large recurring expenses, such as insurance premiums.
06 Deposit your pay check into your savings account. You’ll think twice before you take out money.
07 Subtract your credit purchases from checking right away so that you’re not surprised when you get the bill.
08 Toss spare change into a glass jar on your dresser and watch your money grow.
09 GIVE YOURSELF AN INSTANT REWARD: Each time you pass up that latte, toss the money in your cash jar. Saving becomes less of a chore if you can see the fruits of your labours.
10 After you pay off a loan or credit-card bill, keep writing the check and send it to a savings or investment account.
