Stop Living Paycheck to Paycheck
March 11th, 2008 | Published in Uncategorized
The Simple Dollar blog has published some useful tips on how to stop living from one paycheck to the next.
Set up a savings account in a separate place that isn’t easy to access. I find that online banks like ING Direct are a great place to do this, as the money in this account can be accessed if you take the time to log on and execute the transfer, but you can’t easily just write a check or use a card to drain it of money, plus you can set up sub accounts for each of your savings goals.
I can attest that this tip definitely works. In the amount of time it takes you to arrange a transfer of funds out of your online savings account you can talk yourself out of making most impulse purchases. The post has more great tips for eliminating unnecessary expenses and saving money. Check it out here.