If you take a few bucks out of your paycheck right away, will you miss it? Probably not, and it’s an easy way to save.
Here’s how. Ask your employer to take a certain amount of money (for example, $25) out of your paycheck every payday before you get your check. Instruct the employer to deposit the money into your savings account at the bank instead of paying it directly to you. This is called “direct deposit.” Not all businesses offer direct deposit for employees, but many do. Your employer and your bank can show you how to do it.
What’s the benefit of direct deposit? You won’t be tempted to spend the money. Your savings will grow faster and you’ll reach your goals sooner. “Have a Goal”. It’s a winner!
