Whether you are saving money for a rainy day, your dream vacation, kids college fund, or for a downpayment on a new home, it’s not for the faint of heart. Saving money takes dedication and determination. There are many methods out there you can follow to save money, but it all boils down to this: setting money aside for wants, needs, or financial security.
The easiest way we have found to save money is to open a second account separate from where your income goes and have a percentage of your money go into that account. For example, if you get paid $800 a week, have $100 of that paycheck go into a separate account.
Now here is the key -
Don’t touch this money until you reach your goal
But, on your path to saving, you should reward yourself. Maybe when you reach $200 in your savings account, go buy yourself a coffee. When you reach $1,000, go out to eat. If you set those little mile markers, saving money can feel like a reward and you’re more likely to save successfully.
Use this handy savings calculator to help you plan how much to save