10 tips for super-sizing savings in 2013
Americans continue to place an increased emphasis on saving, with 1 in 5 respondents citing this as their top financial priority in Bankrate’s November Financial Security Index. What better time to give yourself a fresh start than the beginning of a new year? Want to boost your savings in 2013? Here are 10 savings tips to help you reach that goal.
Tip 1: Start or boost your emergency savings account
Only 1 in 4 Americans has an adequate emergency savings cushion, according to Bankrate’s July Financial Security Index, and an alarming 28 percent have no emergency savings at all, so the majority of people need to heed this tip. Since the biggest barrier to saving is not being in the habit of saving, the best way to get in the habit is to pay yourself first.
Have money directly deposited from your paycheck or even your checking account into a dedicated savings vehicle.