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3 Steps to Savings Success Comments

  • By DailyWorth Team
  • October 11, 2012

Woman with presents

Wow, you are serious about saving for the holidays. In fact, thousands of DailyWorth readers pledged to save $500 by the time the shopping season hits. If you want to join them—and get a chance to win an extra $500—make your own pledge today!

Now all you need is a system to make it happen.

1. Decide on a plan. Hoping that you might find $100 here and $50 there won’t work. Let’s say you’ve saved $75 since your pledge a couple of weeks ago. That leaves $425 to save by November 15.

Do you want to save $85 per week? Sock away $12 per day? $X amount per paycheck? It doesn’t matter to us, as long as it works for you.
2. Set up a dedicated account. Behavioral economists who study this stuff have found that you’re a far more successful saver when you tie your own hands. Meaning: you need an account that’s not linked to your checking or to your ATM card.
 
  Sign up for an FDIC-insured Barclays Online Savings account and start receiving 1.00% Annual Percentage Yield (APY)* on your savings today.
 
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3. Review step 1. Ready? Committed? Now set up an automatic transfer from your checking to your remote, untouchable savings stash. Pretend it’s your own off-shore account. Shhhh.

 

Get Social
We've received so much love for Get Ahead of the Holidays that we want to give some back! Double your chances of winning by tweeting @DailyWorth with your plan for saving $500 with hashtag #GetAhead

 

Step forward. What's your recipe for successful savings?

Tagged in: Saving
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