Secrets of Success

Left-Overs On Payday

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MEMBERS SPARKED

I get paid by direct deposit and on payday I check my account online. Looking at the balance, I transfer any money left over from the previous payday into a savings account; even if it is only $20.00. You will be surprised at how fast this can add up. my savings account is actually a tax-free account where I can stash up to $5000 without paying taxes on it. Nice! emoticon

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Member Comments

  • Another variation of this: everyday I don't spend money on anything, I move $10 into a savings account. - by SPYDER70
  • JUST_ASKS
    I love this idea. I am going to start it in October. But how is it tax free - don't you pay taxes on the interest??? - by JUST_ASKS
  • Good idea. Thanks - by SMITHANI

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