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Start a Savings Plan Today
There are so many savings plan around today. You hear about them everyday. Well I do. I have tried some of them too. So I’m going to discuss with you the one saving plan that I think anyone can do.
The savings plan is:
Saving a Dollar a Day
Most of us want to start a savings plan but as usually
we procrastinate. But you don't have to wait any
longer, you can start this simple savings by
challenging yourself to save just one dollar ($1) a
day. It is a great way to start conditioning your mind
to save your money rather than spend all of it.
Learning how to save money is just as important as
learning how to read and write. So why not start
small at first and as time pass you can start
increasing the amount you save. You will be
surprise at how much money you will have just by
putting back just one dollar everyday for the next ten
or twenty years.
You might just think that saving money is for the rich and wealthy, but whether you are rich or not
you should put you should start saving some of your money.
Ten Years Savings Amount
Let see, there are 365 days in a year so in one year your child will have saved $365. If you mutliply $365 by 10 years you will have saved $3,650.
Things You Can Do to Help Start This Money Saving Journey
- Come up with a time frame.
- Find a place you can keep the dollar (one dollar worth of change will do too.) Coins are money too.
- Do not spend it. No matter how tempting it gets. Resist.
- Do not count it. Wait until the end of your time frame. Then count it.
- Use something or someone to remind you to save the dollar everyday.
- Involve others and make a challenge out of it
Things You Can Do To Come Up With One Dollar ($1) To Save
- Empty the change from you pockets or purses everyday
- Don't buy your normal snack. It is not good for your health anyway and you might loose a pound of two if you do.
- Reduce or limit your entertainment activities. Entertainment can make you poor.
- Do not eat out or simply reduce the cost of your meal by ordering less.
- If you gas your car daily, put less gas in your automobile. For example put one dollar ($1) less worth of gas in your car. If you gas you car weekly put $7 less in it. For example instead of putting $10 in gas put $9. Do not do this if you think you will give out of gas but go ahead and put the amount you need in gas.
- Stop driving your car as much as possible. Those extra trips to Walmart, visiting relatives and friends, grocery shopping, etc can be reduced. It can help you save that one dollar a day. Try buying all your groceries once a week instead of daily, it can save you gas money.
- Ask someone to give you a dollar
- Do not buy something unless it is a necessity. If you can live without it, then live without it.
Hi, I'm Abbie.
Your financial
education tutor.
Welcome!
