In our last post we discussed ways to begin taking control of your finances. This week we’ll go over some ways to make those savings goals stick.
1. Do it automatically.
You can set up an automatic transfer with your bank so that each pay period a certain amount of money will be transferred to your savings account. This way you don’t have to think about it, which makes it much more likely to happen!
2. Make it fun.
Challenge a friend or family member to see who can save the most over a period of time. Just make sure the prize is FREE! Maybe the loser has to cook the winner a meal or wash their car. Make saving money a family affair by creating a savings thermometer. Draw a giant thermometer with your savings goal at the top. Once you reach your goal have a party to celebrate.
3. Reward yourself.
You have been pinching pennies and your savings account is growing! Periodically rewarding yourself with a small bonus will motivate you to keep going.