IF YOU REALLY WANT TO SAVE MONEY, YOU NEED TO “PAY YOURSELF FIRST”.
Saving money in unexpected ways is about knowing how much money you have, and where exactly it is going. Check out the following helpful tips and tricks to not only help you keep track of your hard-earned money but also keep more of it in your pocket!
Tip 2 of 7 – “Pay Yourself First!”
Set up a direct deposit that automatically transfers a percentage of your income into a high interest savings account, or RRSP every month or better yet, biweekly. This will not only help you be prepared for unexpected expenses but you’ll be taking advantage of the power of compound interest.
The Bottom Line
Saving money is not only about creative cost cutting, but also about making smart spending decisions. It is never too late to take a look at your finances and start trimming away any excessive spending. You’d be surprised at the big differences small changes will make on your savings.