Welcome to part three of RESTART 2012, a painless four-part financial scrub-down that will have you in fighting shape before you can say “FICO.” Read part one and part two.
This is not news: the easier you make it for yourself to save money, the more likely you are to actually save it.
So why are you still struggling?
Auto-saving is the lazy girl’s secret weapon. You don’t need a comprehensive financial plan or a spare six hours to get started. You need a savings account and 15 minutes. (And maybe that kick in the pants we sometimes reference. Kick.)
Here are two easy ways to automate:
- Ask HR to split your direct deposit between your checking and savings accounts.
- Set up a recurring payday transfer to savings—most banks let you do this online.
Start small, suggests saving expert Donna Freedman at Get Rich Slowly, who wrote possibly the best treatise on this topic ever. “Increase the amount slowly—one hour’s pay at a time, perhaps?—to give yourself time to adjust your spending.”
Soon you’ll be living on less and saving more—stress-free.
Be sneaky. How do you trick yourself into getting those financial chores done?