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Lifestyle Tips: Successful money saving tips

Saving money is tough; it's even tougher in a difficult economy. But it's still possible and can even be easy to stash cash for an emergency fund, vacation or just a rainy day.

If you're having trouble saving money, these tips from "Secrets of Successful Savers" on msn.com can help make building your nest egg easier and less painful.

  • Move your money. Moving funds from checking to savings deters people from touching their own money. Putting money into a certificate of deposit or money market account protects your cash even more.
  • Enlist technology. Ask your agent about changing your direct deposit so that some of your money goes directly into a savings account.
  • Assign a particular goal to your savings. If you have a sense of meaning or a concrete goal attached it is easier to leave that money alone.
  • Act fast. Even if you feel inspired to save, you can't rely on that feeling to last. Now is the time to take action.
  • Get support. Enlist the help of friends and family. Tell someone your savings goal and ask them to help you achieve it. The accountability and camaraderie will help you meet your goal.
  • Save your savings. Focus on saving your savings. For example, if your grocery receipt shows that you "saved" $7.49 on items you bought that day, go home and put that money aside.
  • Make it easy. What are your likely sources of self-sabotage? Make a list and then avoid them: a particular store, a favorite website, certain products or a shopaholic friend.

Source: Dunleavey, MP. "Secrets of successful savers" msn.com. 25 March, 2009. http://articles.moneycentral.msn.com.



 
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Lifestyle Tips:
Successful
money saving tips.