What is the 1st step in saving ….
It’s called paying yourself first! You pay all of your bills, but do you ever pay yourself first? Get yourself a “me” fund. Whether it be a prepaid visa or master card
a savings account or what ever. Get an account that is for the benefit for yourself. Take about 5% and pay yourself first. If you get your paycheck by direct deposit separate it and put it into a different account where you don’t see it.
Most of the time if it is doesn’t end up in your hand it is easier to pay yourself. I did this…. I felt like I could not afford to pay myself. But I started putting at least 5% of my income per pay period for “me”. Now, my husband knows about my “me” fund. I don’t calculate my “me” fund into my income because I don’t want to consider it as money available for bills and etc.
So, the first step into building a savings account is get you “me” fund. Take atleast 5% of your income start building up your “me” fund. You deserve it right!
I took a poll yesterday wondering what was the economical situations in households around America and the UK. You know me, I am a fan of Yahoo! Answers. So I ask, How are your finances? Is your home in recession? Many people said that their mortgages were paid and even though they can’t go and spend like they may want, they are thankful that they haven’t lost anything. (more…)