Wednesday, May 02, 2007

Make it automatic

The one piece of financial advice that I can personally say is 100% true is automatic savings. Since September 06, I have managed to grow an e-fund to over $1,300.00, use it down and build it back up to the current amount of $527.00. I saved this amount without much effort on my part. ING makes it real easy. The direct deposit form can be printed from the website with all the information.

My advice to anyone struggling to start saving would be to set up direct deposit. Make savings automatic, you will see how quickly it grows.

6 comments:

everythingiseverything said...

I second that. I started an ING account in January and I have almost 500 in it. I know I've never saved that much so fast. (I know its really not a lot) I've used some and put it back. I don't think I'd be able to save any other way. I tell people if you can take an atm card and wipe it out, its not a savings account.

Just Me ! said...

i agree !

Cheryl said...

AGREED!!! I have an ING acccount as well, opened with someone elses bonus referral, so it was automatically pumped up with extra $$..and have been direct depositing every paycheck. I never touch it, and it is growing, with my money and the bonus $$ as people use my referrals!! Saving like I never thought I could!! It feels GOOD, doesn't it?!

The fantastic Y said...

I agree. I feel so proud of myself having money in my saving accounts (not a lot but at least something). A lot of people who are older than me rob their saving account for useless stuff. Makes me a bit frustrated to see them with pretty things but I feel so satisfied when I know I can take care of myself. Girl power! ^^

3 Things About Money said...

I'm with you on this one! The ING thing makes it so simple, and I don't really pay attention to the account, it just keeps growing. It takes them three days to transfer money into your account, and that for me is a plus, because I can't spend it on impulse.

Tired of being broke said...

I tell every one I know who is trying to save how easy it is with ING, and direct deposit.