| By :
Molly Wider
Having trouble seeing you and your family debt free, or with a positive balance-of any kind-in your savings account? The key to saving money is to "just do it"-and then keep doing it forever. Savings are an important part of good budgeting for you and your family. You need cash set aside for emergencies and unexpected hiccups in your money management scheme. Here are some ways to help you put a few dollars aside for when you might really need them. Set goals Decide how much you want to save (be reasonable) and set a date to get there. Bring everyone in on it, and brainstorm ways to save a few dollars a day to reach that goal. Make it a friendly competition to see which family member can figure out how to save the most cash each month. Picture your goals Great athletes do this all the time-they see themselves crossing the finish line first, crushing their competition. You can do the same thing. See your goals. Visualize that money in your account. Whenever you feel the urge to splurge, bring up that picture of money saved and debts paid. Look for higher interest savings accounts Don't underestimate the amount of money you can make from a higher-interest savings account. Even one-half or one-percent higher interest, over time, can add up to substantial dollars. When temptation strikes When you get tired of saving (and we all do) and just want to blow that cash, consider the full cost of what you're buying. For every dollar you spend, you probably have to actually earn nearly two dollars-taxes, pensions, and other deductions take a big bite out of the money you put in your pocket. So look at that price tag, and multiply by a factor of two. Is it worth that price? Put savings into a separate account Money that isn't set aside can easily get lost, or spent. Put your savings into a separate account, and one you cannot access except by going to the bank and withdrawing it directly. Make automatic deposits Choose some small amount each month, or perhaps every payday, that you will have automatically transferred into your savings account. If it's automatic, you'll feel less pain when the money is withdrawn, be less tempted to touch what you've saved, and not have to worry about making the deposits yourself every month. Pay yourself first View savings as paying yourself-and do that first. Even when times are lean, reduce how much you set aside, but don't eliminate it. Even a few dollars, added up over time, can become a sizeable amount. These are just a few ways you can ensure that you save some small amount each month. And with your family onside, you can probably come up with plenty more.
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