Facebook Messages: Savings Tips

1. America Saves Website: http://bit.ly/ASaves

Messages

1. Make savings fun. Place a picture of what you're saving for on your mirror, computer monitor, or refrigerator. For example, if you're saving for a new car, find a picture of the particular make, model, and color car that you want to buy. Seeing your goal will motivate you to save. More savings info: http://bit.ly/ASaves.
2. When you spend more than you earn, you are living beyond your means. This makes it difficult or impossible to save. To turn this situation around and achieve positive cash flow (income greater than expenses), consider ways to increase your income, trim spending, or do both. Variable expenses that are not locked into a fixed monthly amount (e.g., food and entertainment) are usually the easiest expenses to cut. More savings info: http://bit.ly/ASaves.
3. Want to be a successful saver? Develop a spending plan (budget), a written plan for spending and saving money. Include savings for emergencies and future financial goals as fixed "expenses." Then automate savings deposits so they don't require ongoing self-control. Automatic savings is a powerful savings resource. More savings info: http://bit.ly/ASaves.
4. Even if you only have spare change, start saving something today so your money starts to grow. Any amount of savings is better than none. Don't wait until your car loan or student loan is repaid or your children leave home or you get that promotion at work or some other key life event occurs. Save now. More info: http://bit.ly/ASaves.
5. For savings to become a reality, treat it like an important fixed household expense (e.g., rent or car loan payment) that must be paid- or there will be serious consequences such as eviction or repossession. This practice is called "paying yourself first." The consequences of not saving are serious too: financial distress and an inability to reach your financial goals. Start small. Think big. You can save if you put your mind to it. More info: http://bit.ly/ASaves.
6. Instead of putting big ticket items, like appliances or a computer or furniture, on a credit card, try saving up the money to pay for them outright. It may take a few months to save up the cash but, when you make a purchase, you'll owe no interest! Start small. Think big. You can save if you put your mind to it. More info: http://bit.ly/ASaves.
7. If you can't save 10% to 15% of your income, as many financial experts recommend, save what you can and increase the percentage of your income that is saved over time. It's far better to save 2%, 4%, or 6% of your income than to save nothing at all. Start small. Think big. You can save if you put your mind to it. More info: http://bit.ly/ASaves.
8. Treat savings like a high priority household expense (rent or car payment). The more automatic the savings method (e.g., paycheck deduction), the better. Many people eliminate the temptation to spend their savings by never seeing the money in the first place. Start small. Think big. You can save if you put your mind to it. More info: http://bit.ly/ASaves.
9. Small savings adds up. Want $1,000 to pay for a short-term financial goal? Save $20 for 50 weeks. Do this through automatic savings deposits or expense reduction or both. For example, you could save $1 a day and reduce the weekly family food bill by $13. Start small. Think big. You can save if you put your mind to it. More info: http://bit.ly/ASaves.
10. Don't use "as soon as" [I get a raise, the kids are older, I pay off my car loan, etc.] statements as an excuse to postpone saving. Start saving today, preferably automatically! Remember that law of physics: "A body at rest remains at rest and a body in motion remains in motion." Get your finances moving in the right direction. More info: http://bit.ly/ASaves.
11. View savings as a fixed expense, not something to do with leftover money. There may not be any. Have money deposited directly into savings as you earn it and you will learn to live below your means. Paying yourself first is a proven wealth accumulation strategy. Start small. Think big. You can save if you put your mind to it. More info: http://bit.ly/ASaves.
12. Remember that small steps matter. If you want to save $1,000 in a year, pay attention to where nickels and dimes go each day. Save $2/day, plus pocket change, and you can reach this goal. Decisions that you make daily determine the successful achievement of your financial goals. For more information: http://bit.ly/ASaves.