Advertisement -- Learn more about ads on this site.

Secrets of Success

< Secrets of Success Main Page    Submit a Secret
1
 

Left-Overs On Payday

118

Members Were Sparked
This Sparked Me!

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

- Submitted by ANGELAWILLIAMS3 9/11/2010 in Saving Money | 3 Comments
Please note these are member-submitted secrets and are not reviewed by SparkPeople's health experts for accuracy. If you feel a secret is inappropriate, please click Report Inappropriate Secret and our staff will review it.

Member Comments

SPYDER70 9/12/2010 11:10:00 AM

    Another variation of this: everyday I don't spend money on anything, I move $10 into a savings account.
JUST_ASKS 9/12/2010 8:43:00 AM

    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???
SMITHANI 9/11/2010 7:49:00 PM

    Good idea. Thanks

Leave encouragement, a question, or anything else relevant to this. All comments must abide by SparkPeople's Community Guidelines.

Log in to post a comment.

Related Secrets

Diet Resources: quiche fluting | what is palm oil | where is palm oil from