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Pay Yourself First


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My paycheck is direct deposit into my checking account. I then have a set amount transfered to savings. When I get a raise at work I increase the amount of my savings deducted by half of my raise.

- Submitted by SCIFIREADER 7/5/2010 in Saving Money | 4 Comments
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Member Comments

LADY_KATHY 7/6/2010 12:55:00 PM

    Think how much richer you'd be if you put all of your raise into savings and continue living below your means. : )
ALIOUSGIRL 7/6/2010 2:17:00 AM

    Sometimes it's better to have a savings account at another bank because if you can easily transfer money from your savings to your checking it makes saving hard (speaking from experience). Either way it's a great idea.
SISTERDEAR 7/6/2010 12:58:00 AM

    I started doing this years ago. It's a pretty painless way to add up those savings!
MICKIDEE44 7/5/2010 9:22:00 PM

    I usually pay myself first, but forgot to change my savings when I got a raise.

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