You do not have to completely change your ways of life in order to see your savings account start to grow. The trick is though, is that any money you save you need to put it in a savings account. I realize that is not the most fun approach, but there comes a time when you need to focus on building for the future, and it is better late than never. With a few ways to increase your savings account it can now become your new way of life.
Clean You Your Credit
Most people don’t understand the correlation between having a clean credit report and boosting ones available income. Just imagine all the money you spend on higher interest rates on loans for cars or perhaps a mortgage. Go here http://aaacreditguide.com/charge-offs/ to learn how to clean charge offs from your credit report, this is a good first step in increasing your score and thus your wealth.
The more you have control of moving funds between accounts the least likely you are to save. Think about it, if you have a full checking account the first instinct would be to go spend it, so if you have money directly deposited to a savings account the money is already there without having to touch it. The more you continue to see the balance grow month over month the less you will want to take from it, so sit back and watch the balance continue to rise.
Cash in Saved Up Change
If you are like most that receive loose change back from a purchase, you throw it in the console of your car, in a box on the dresser, or an adult piggy bank of sorts. As it accumulates money throughout the year and starts to overflow, you can roll the change and take to the bank, or go to a Coinstar machine, just keep in mind they take out about ten cents per dollar. When you receive your cash, stick it in the bank. Hey, every little bit helps.
Use Cash Instead of Plastic
On the topic of loose change, it is always better to use cash instead of plastic. You can actually physically see how much you are spending and what you have left, instead of throwing it on a card any worrying about it later. If anything it may make you think twice about unnecessary spending items.
Save Rewards Checks
With great programs out there such as the Citi Costco card where anywhere from 1-4% of your purchases come back in the form of cash, if you are disciplined enough to use your credit card for all purchases and can pay off the balance each month, you will find a large reward at the end of the year. Instead of going on a spending spree with your extra hundreds, put it in the bank.