How are you doing with your savings habits? Do you automatically transfer money to a savings account each month? Setting up automatic savings is the easiest and most effective way to save – it puts your extra cash out of sight and out of mind. There are several ways to automate.
1. Use direct deposit at work to split your paycheck into different accounts: checking, emergency fund, retirement, investment, or other goals. Automating retirement savings is a great way to assure that you receive any matches or employer contributions, too.