Saving: A Plan and Good Intentions

Many of us always have good intentions when it comes to saving money; however saving is a task that takes perseverance and patience to accomplish. In order to attempt at saving, for anything, I have created a plan that is working well for me. I opened a savings account at my local credit union and scheduled an automatic transfer to be deposited into my savings account.

A Few Details about Automatic Transfer and Direct Deposit

  • Automatic transfer will allow you to schedule a recurring transfer from your main account every month (or as often as you like). 
  • A direct deposit will need to be set up with your employer to be taken from your payroll check and deposited directly to your savings account. 
  • Why choose an automatic solution? Set it up and forget about it. Chances are you won’t miss it, I haven’t.   

Remember saving takes perseverance and patience. The world is full of temptations, so when you start saving, for anything, make sure you separate that savings from other accounts so you are not tempted to dip into it (not even once!) before you need it.

When it comes to saving money, what works for you?

Savings Tip: Have you created your holiday budget? Visit today and download Gabby’s Christmas Budgeting Worksheet — the key to saving money this holiday season.