If you are like….everyone else in the world, saving is not at the top of your “fun things to do” list, nor is it an easy task.

So, here are some ways that you can ensure you pay yourself with a little less stress about the topic.

Pay Yourself First

You’ve probably heard the phrase before, but do you know what it means? Paying yourself first ensures that you put aside money for YOU before you work your budget.

Seems simple, and somewhat unnecessary, or is it? Most people have a hard time not spending what is left in their account as the month goes on. Therefore, “I’ll save what I have leftover” rarely equates to any amount saved.  

Scenario Time!

Imagine this, it’s the 27th, you see you have $600 left, and all your bills have come out: awesome!

The next day you see something you’ve been meaning to buy, but haven’t remembered to budget for it.

You spend $300 on the light fixture to replace the still-working, outdated one in your foyer.  Which then sits in a box for four months until you make the time to replace it, because, the old one works just fine.

You then need gas in both cars and some groceries before payday on the first, which leaves you with $100 to last until payday.

Had you paid yourself first, you would not have purchased that new light fixture, you could have budgeted for it over the next few months when you’re ready to replace it. You would also have $300 in your savings as well!

Try Using a Round-Up App

Apps such as Acorns, Stash, and Greenlight are round-up apps that invest your funds, but they also charge a monthly fee, so if you’re not completing enough transactions, you may quickly lose the investment savings you were trying to accumulate by using the app.

Instead of using apps for automatic investing, you could use an app such as Chime. Chime has no fees, and it has a round-up feature. Round-up increases your purchase to the nearest dollar when using the Chime checking account and moves those funds into your Chime Savings account, which also pays interest!

Chime also offers automatic savings, so after each paycheck hits, Chime will transfer over a pre-determined amount (pay yourself) into your savings account!

These are just a couple of tips to help you save if you’re struggling, reach out to us by clicking here if you’d like more information on saving!