I work in a financial institution and have my paycheck go to a checking account at another institution. I also have additional money deposited to a savings account and a Christmas club there. My theory is out of sight, out of mind--I never touch the savings account or the Christmas club!
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OPEN A SAVINGS ACCOUNT DEDICATED TO FUTURE EVENTS. HAVE 10% OF YOUR PAY CHECK GO DIRECT DEPOSIT TO THAT ACCOUNT. THEN WHENEVER, YOU GET A PAY INCREASE "RAISE" THE AMOUNT OF YOUR DIRECT DEPOSIT BY THAT EXACT SAME AMOUNT. RAISES DON'T BE THAT MUCH ANYWAY. 436336149
THE FUTURE WILL BE HERE BEFORE YOU KNOW IT.
Most jobs allow their employees to enroll in Direct Deposit for their paychecks. You can typically add up to 3-5 different accounts. I get a set amount of money from my paycheck automatically deposited into my savings account each month to build my emergency fund and I don't touch it. This way I KNOW that I'm saving money.
I'm sure it's been said but setting up an auto-transfer is a great way to go. It's easy to know that on pay day $x.xx is beign transfered out that it becomes out of sight, out of mind. If you have direct deposit and your work offers to deposit to two diferent accounts, this is even better because it's hard to miss what you didn't even see.
If you have a good budget, another great addition to this is at the end of each paycheck, transfer the extra funds that were not spent over to savings.
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