When I receive extra checks, such as reimbursement or other refund checks, I put them directly into my online savings account. I benefit by saving the money rather than spending it and by earning a higher interest rate than my local bank. Those small checks add up quickly and so does the interest!
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Decide on a reward you would like to purchase for yourself for being good. Every time you feel like buying a bad food to satisfy a craving or ease your stress, put the money you would have used in a piggy bank towards your reward.
After awhile you can see how much money and extra weight you are saving when you put the money towards a healthier reward.
To save more money, open several savings or money-market accounts. If you have a specific purpose for an account, you are apt to save more, so give each one a name reflecting its goal. They could be "Bahama Trip 2011," "Johnny's education 2018," "Retirement 2030," "2010 Holidays," ---or whatever you've set for your savings goals. Search online for the best APYs (annual percentage yields) to get the most from your savings.... (click title for more info)
I use bankrate.com. Research your local bank, credit union or at Costco, which gives special rates through Capital One direct banking. It's always a good idea to compare. Interest rates are low now, but my online money market rates are 4 times better than what my local bank offers.
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