Automatically have an additional 1% of your paycheck transferred into savings. Most of us aren't going to really miss that extra $10, $20, $30 dollars every two weeks, and it adds up quicker than you would think.
Look for a high yield savings account with no minimum. ING, HSBC, Emigrant (and other internet banks) typically offer a much higher interest rate than your standard brick and mortar banks. Just make sure if you are going with an internet bank that they have good reviews and are FDIC insured.
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.
Advertisement -- Learn more about ads on this site.
When I was young, parents (at least MY parents) never discussed money. It was only when I took over my elderly mother's finances that I discovered they had paid cash for cars, rented from inlaws while saving to buy their modest home for cash, invested in stocks, & paid all credit cards in full each month. When my father's salary increased, he saved the extra until he had enough to buy a $1000 CD (certificate of deposit) several times/year. It took decades for me... (click title for more info)
to learn good money habits on my own. Don't discuss specifics with children, but when opportunities arise, teach them the pitfalls of credit card spending, benefits of saving & investing, bargain hunting, & good money management skills. And above all, practice what you preach.
If you eat it, and you don't need it, it's still a waste!
When I was little it was "eat everything on your plate!" Now my Mom says "if you don't need it... put it in a container and save it for later!" I actually did this when I was living with a host family that served us. I would save the extra food that I didn't need and eat it the next morning for breakfast or the next afternoon for lunch. Saves a lot of calories and it saves preparing another meal (or at least part of one)! Good luck and good eating!
SparkPeople, SparkCoach, SparkPages, SparkPoints, SparkTeams, SparkDiet, SparkAmerica, SparkRecipes, DailySpark, and other marks are trademarks of SparkPeople, Inc. All Rights Reserved.
SPARKPEOPLE is a registered trademark of SparkPeople, Inc. in the United States, European Union, Canada, and Australia. All rights reserved.