Monday, July 27, 2015

6 Superb Ways to Build Your Savings Account

Single income families , single mom or dad , living from paycheck to paycheck -- these situations can sometimes makes it a struggle to save money. Some may even ask,  "How can we save money, when there's hardly extra money".  The truth is, if there's a will ..there is a way.  It may be a small and slow process at first but that first step is progress.

" A Journey for a thousand miles, BEGINS with a SINGLE STEP. " -- Lao Tzu

 

Here are some practical and superb ways to build up your savings account.




$5 Savings Plan

How does the $5 Savings Plan work?  When a $5 bill comes into your possession , what you do is to put the $5 bill aside and then once or twice a year you deposit your money into your savings account.  Kelsey from Keeping Up with Kelsey saved all of her $5 bills in a mason jar. She saved for five months and was able to put away $200. How smart and easy peasy is that? If you think that $200 is not that much , remember ..that $200 socked away is $200 that you didn't have before. Saved money that you can use for an emergency that you had never expected months before.  Of course the saved amount depends on how often a $5 bills comes into possession. If you use mostly cash, more than likely , you will be able to save more! Head on over to Keeping up with Kelsey and read her tips on how she does the $5 savings plan and what she plans to do with it.

Photo credit : Keeping Up with Kelsey
Lena of What Mommy Does is a former CPA turned SAHM , created this way of saving money for Christmas spending. Her and I are the same, months before Christmas we already have Christmas spending in mind. I don't know about you but the holidays have ways of breaking into your bank if you are nor careful. I too, like to plan ahead. She created the 26 week plan to start in June and ending in December-- having $1001 ! Wow huh?   Head over to her site , this smart momma offers a free printable of 26 Week / $1000 Savings plan.

Photo Credit : What Mommy Does
Do you want to start small ? Amee from Real Advice Gal  has got you covered. As she explains, 52 weeks savings plan is more realistic because you will start small , $1 .You save the amount that corresponds to the number of the week .  Let's say week one, you need to save $1 , week 2 will be $2, week 3 will be $3 and so on.
Amee is right on the money with this, it is not  intimidating that even kids and teenagers can do this. By the end of  the savings plan , you'll have $1378. Head over to her site, Madame Deals ..she has a  cute printable to get you started. 


 
Photo credit : Real Advice Gal



Automatic Bank Transfer

Call your bank and set up an automatic transfer from your checking account to your savings account . It can be as little as $25 a month. If you tend to forget to put away certain money for your savings envelope, then this is the best option for you.  With next to no effort, let it build up and watch your savings grow.





Make More Money

I know that to some, socking away a lil money can still be difficult. That phrase , "there is just not enough money " is true for some families. Try making more money . You can make money by  going through all of your excess stuff and selling it on ebay. You can make a lil money by consigning your gently used baby and kid items ( just make sure that what you are selling is not on recall) . How about babysitting or even pet sitting?
I recently wrote about Work From Home Jobs, it is for bloggers and non bloggers.  Are you a blogger or want to start a blog and thinking about ways to monetize your site, check out 20 Ways Bloggers can Earn Money.

Selling Stock Photography


Give.

No , I am not crazy..I am really encouraging to you to give. Give and I guarantee you that it will do your heart  and mind wonders.  Don't do this in the wrong belief that when you give , God will bless you more. Do not expect blessings in return by doing "false works". Doing good works to gain God's love is - dead work. He already loves you and gave you an abundance of grace.

" And if by grace, then it is no longer by works, if it were, grace would no longer be grace "
--Rom 11:6

" For it is by grace you have been saved, through faith—and this is not from yourselves, it is the gift of God—  not by works, so that no one can boast. "
-- Ephesian 2:8-9



"No one has ever become poor by giving" -- Anne Frank


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ways bloggers can earn money



http://www.abountifullove.com/2015/06/work-from-home-jobs.html





 

11 comments:

  1. Oooh! I am saving this one. Great resources, thank you for sharing at #mommymeetupmondays.

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  2. This is a great list! Thank you. It looks like you have a wonderful site. I'm pinning this. #tuesdaytalk

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    1. Hi there! love your blog name! Thank you for stopping by and for the pin. I really do appreciate it.

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  3. Saving seems to be so difficult for us. Thank you for the tips and resource. Definitely pinning for later use!

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    1. Been there Kelly, so I definitely comprehend. Thank you for pinning it, I really appreciate it,

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  4. These are fantastic tips! I love the 52 week plan and the $5 dollar plan. I think we will definitely be implementing these soon!

    Thank you for sharing with us at #MommyMeetupMondays!

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    1. me too! We did the 52 week plan last year and we are doing it again this year. we will use for Christmas spending. Thank you for stopping by!

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  5. I love the breakdowns of this. I'm going to show my kids so they can start saving for their own Christmas shopping. Thanks for sharing.

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    1. That will be awesome Erlene! Have a great week!

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  6. Really appreciate such a practical post! Thank you! Pinned! Tweeted!

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Thank you for stopping by and know that all of your comments are appreciated !