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By LifeAdviceSite.com
 Wondering how to get more savings into your life? Following these 5 simple strategies will get your cash multiplying in no time.
1. Automatic Savings:
From the very first day you sign up for a checking account at any bank,
make sure you have a savings account linked to that checking account.
Set up a weekly, automatic deposit into that savings account and then
don't touch it. An automatic deposit will be carried out
electronically by the bank so you don't have to worry about it, and
your savings won't suffer if you get distracted and forget to make a
transfer or deposit. Start with whatever you can. Even if it's only
$10 a week that's more than $500 a year, and with interest it grows
even more!
2. Budget Savings:
When
you calculate your monthly budget and add up all the bills you're
paying to see what you can and cannot afford,  make savings a part of
that budget. Again, utilize automatic bank transfer if you can, and
create a monthly payment of $25, $50, or $100 dollars - whatever is
comfortable for you once you've taken into
account the other bills you have. Set up a transfer to a high-yield
savings account like ING Direct, or invest in stocks or mutual funds. If you treat savings like a payment that must go out every month, you're more likely to be disciplined about it. Unlike your other bills, this one will actually pay you back...
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3. Take Advantage of 401K:
If your employer offers a 401K, utilize it! If they offer a company match, make sure
you're contributing up the maximum. Not only is it an important
savings investment in your future, 401K deductions are taken out of
your pay before taxes are calculated thereby reducing your tax
liability for the current year. If your employer matches the
contributions you make to your 401K, not taking advantage of this is
like saying no to a pay raise. It's money they are offering to give
you, and it will double to amount of savings you are investing in your
401K. I f your employer doesn't offer a company match to your 401K -
find a new job! Just kidding.
4. Change Jar:
If you use cash on a daily basis for coffee, lunch, tolls or transportation, why not keep a change jar for saving your change at the end of the day? Empty your pockets and change purse each night, and once you have a jar so heavy you can hardly lift it, bring it to your local bank and deposit into that savings account! Just remember to check with your bank before you lug in all that metal money. Some  banks don't have change counting machines anymore.
5. Cash Stockpile:
If you're like me and deal mainly with a debit card rather than using cash everyday, it can be hard to get the benefit of savings change jar or the like. If so, then take this tip to heart. Every week when I do the grocery shopping, I pay with my debit card. When the transaction is finalizing and I get the option to receive cash back, I take either $10 or $20, fold it and slip it into a sequestered part of my wallet. I do this several weeks in a row before depositing the small cash pile into my cash-box at home. After several months, those little cash piles have grown into a significant cash pile which I then take to the bank and add to my savings account.
Happy Savings, Friends!
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Copyright 2007-2009 LifeAdviceSite LLC. All rights reserved.
Disclaimer: The creators, administrators and any contributors of this
site and the information herein are not licensed counselors, advisers
or health professionals. Content is intended for informational
purpposes only and not intended to diagnose, treat or cure any
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or omissions. You are encouraged to take charge of your own health,
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Finance Savings Strategies