1. Designate a specific amount that goes to your savings account – No amount is too small if you really want to save. Decide on an amount that you believe you can dedicate to your savings. Ideally, spare 20% of your income for savings. Every time you receive your salary, take this percentage off and deposit it to a savings account dedicated for just that—savings.
2. Keep your tax refund – You may be excited about your tax refund, but you are better off just adding it to your savings account. If you think you have enough savings, you may just deposit your refund to your IRA.
3. Deposit to your savings account regularly – You can choose to do this manually of you may sign up for a service that automatically deducts from your account and deposits the amount to your dedicated savings account. This way, you won't have to worry about failing to save.
4. Split your direct deposit – If your paycheck is given via direct deposit, ask your management if they allow multiple deposits. If yes, you can ask them to deposit a particular amount to your savings account.
5. Go for interest-earning bank accounts – As much as possible, sign up for a bank account that promises to earn interest. You can consult your bank's representative to learn about the deposit products that give customers more interest advantages.
6. Know your bank's rules – Learn about your bank's charges and penalties as these may be deducted to your saved money. Furthermore, learning about your bank's rules can also help you plan your transactions accordingly.
7. Automate bills – Aside from keeping you from worrying about paying manually, automating your bills payments will also help you budget your money more efficiently.