Save a Little Bit Along

When it comes to saving money, it can be a pretty daunting task looking at a $1500 bill to go to a theme park for a weekend or a special event. You plan on going in November and it is March, how do we save up that much without the need for extra income?

Saving a little bit along goes a long way in saving money. What could start out as extremely insignificant grows over time into a wonderful experience you get to have with the people you care about. Before we just do the math and say the magic number on how many weeks we need to save and how much per week we first need to dive into a budget. Being able to make a budget is great for peace of mind. You know of every dollar that goes in or out of your account. Times are hard with living costs at the moment so be sure to track what are the needs, what are your wants, and what do you invest. A typical rule is 50% needs, 30% wants, and 20% investing. This isn’t always the case, and the needs are extremely higher, the wants go up as high as possible leaving nothing left for that investment account.

Make an automatic transfer that happens weekly from one bank account to another. Preferably a high yield savings account so it can’t be spent as easy as from a checking account. This is the easiest way to actually save consistently. It has been shown time and time again that if your money isn’t readily available then you won’t spend it. Scheduling a money transfer is a pain in the ass from a bank account that has no debit card. It isn’t really that hard but there is another hoop you have to jump through.

If we start saving a little bit along, the goals we can hit are limitless, we can tear into that credit card debt, car loan, go back to school, go on the vacation of our dreams or any other money goal we want to hit. Just start today!