Small weekly savings transfers

I know a person, who automatically deducts $20 a week from his check to savings. I decided that I could live with $40/week without really feeling it — it’s a relatively small transfer that I barely notice, and I save about $2,000 a year on top of my larger bi-weekly savings transfers.

Some people save up to 10% of their income every month.

If to use the idea of compound interest we can easily see that in long run it can result in rather dig sum of money.

Use cash.

Instead of charging things to credit cards or debit cards, use cash for non-bill spending such as eating out, gas, groceries. Spending cash makes the spending more real, and there’s an added advantage of knowing when you’re out of cash, instead of spending more than you.