How to save for a rainy day
From ArticleWorld
Do's
If you want to save money for a rainy day, here are some things you should definitely do. #First, write down all the spending you do for over the next several days. Scrutinized what you wrote, and then you will be able to see where you can cut back on your spending. #Second, open a high interest account like an ISA. This will allow you to put spare cash away. Also, the more time you leave your money in your account the more money you will have saved.
- Third, take notice of your bank's interest rates and their charges. If it is not to your likely shop for another bank, this is also true for utility companies. Remember, if you can find a better deal, and then take it. You owe no loyalty to a company that charges you a lot of money.
- Lastly, do put away a percentage of your paycheck, every time you get paid. Do not spend it, put it away, either in your bank or under your bed, and if you are tempted to touch it, don't.
Pointers
Stay away from ATM machines, and don't take out cash unless you absolutely need it. In fact, take out the funds you allocated for yourself at the start of each week. When purchasing things don't use huge bills, use small ones, you want to be aware about the amount of money you are spending. Rethink purchasing or having a car, gas is expensive. If possible, have part of your take-home pay put into a savings account by way of direct deposit. This is a way to build your savings without feeling the pain.
Stop
If you want to save money, don't lend cash unless you are certain it is money you are willing to lose. Also, do not borrow money you cannot repay. Finally, if you are going to just "window shop do so without any cash on you. Otherwise you will be tempted spend the money.