BECOMING A SAVER; Not Just a spender

GUEST BLOGGER: KATHY RIGGS

According to America Saves, The easiest and most effective way to save money is automatically. This is how millions of employees save through 401(k) and other retirement programs at work. It is also how millions of Americans save at their bank or credit union.
How to Save Automatically- 
​​*  Every pay period, your employer deducts a certain amount from your paycheck and transfers it to a retirement or savings account. Ask your HR representative for more details and to set this up.

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​*  Every month, your bank or credit union transfers a fixed amount from your checking account to a savings or investment account. Talk to your local bank or credit union to set this up.
Why Automatic Savings Works- Over time, these automatic deposits add up. $50 a month accumulates to $600 a year and $3,000 after five years, plus interest that has compounded. Soon you will be able to cover many unexpected expenses without putting them on your credit card or taking out a high cost loan.
Many banks and credit unions will transfer as little as $25 monthly from checking to savings and, as an added bonus, waive any monthly savings fees.  
I Don’t Have enough Money to Save- But if even $25 is too much, just save your loose change. If every day you just put some or all of the loose change in your pocket or purse into a jar, and don’t spend it, you will find that in a year you will probably accumulate over $100.  
Just saving loose change has persuaded many Americans that they are able to save, build an emergency fund or save for other goals.
Everyone has the ability to save. At America Saves, we say “Start Small, Think Big.”