Secret Saving Strategies

Save by a percentage


You ever look at your paycheck and just think… “nah next week” ? We’ve all been there whether it be you got sick or took a few vacation days. What about when you get a lump sum of unexpected money — tax returns, lawsuit settlement or a family member blesses you. It’s easy to see a sum of money and want to spend it all. My advice is to come up with a number that you can use as a percent to be saved.

You might want to have two different numbers for different forms of income. For instance 15% of money from employment and 30% of unexpected cash flow. (Adjust up or down accordingly) Write down these numbers and make a commitment to save that percent each time. You’ll never be able to say you don’t have enough. If you have more bills than you do income, perhaps it’s time to level up OR maybe you can make adjustments in the way you spend your money


Have a Written or Electronic budget & Stick to it

Spend a month documenting ALL purchases. Aft the end of the month, come up with some categories for your spending. If you know that you need to begin saving money, look at some of the expenses you can avoid.

A budget can be created with pen and paper but why not create a google doc so that you can update your spending habits on the go from anywhere you are? There are also templates for budgets already available free in google sheets.

Once you have a written pledge for your amount to be saved, SET UP AUTOMATIC DEPOSITS. Ask your job for a direct deposit form and fill it out adding the amount you want to save each pay period.

Hide your money

Credit unions are a smaller and smarter option for a savings account. They usually do not charge any monthly fees and since they are smaller institutions, they have less locations and are thus harder to access. When it comes to saving this is an easy way to hide your money. With a Chase bank on every corner, accessing a savings account with them is much easier and may lead to impulse withdrawals. The easiest way to save money is to forget it exists. Stop hiding your money under the mattress

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