People ask me all the time why and how I decided to get really into saving money. To be honest, this is a fairly complex question. The why is fairly simple, I wanted independence. Not being in debt gives the freedom to do what you want. The age old expression that time is money is extremely accurate. Everything you own you worked for with your own time to gain money. I wanted to be in control of my life, thus I started saving.
How to start saving can be a little difficult. There are so many different websites and programs you can use. We now live in a world, where you can literally use an app to start saving money, a website, or walk into a brick and mortar bank.
If this is the beginning of saving for you, don’t stress so much about which place is the best right away, just start SAVING!
Do a quick Google search for the best interest rate available, do a little research, and open an account. The #1 way to start saving money is to just start. It can be $10 a week, $50 a week, or $500 a month. As long as you start you’ll be setting yourself up well.
I’m personally trying to save 6 months of pay, so I have more than enough to cover myself in an emergency situation. This initially may seem like a lofty goal, so I recommend starting with trying to save $500. If you open an account and start depositing $10 a week, you’ll reach that goal in just under a year.
It may not seem like a lot now, but this healthy habit will be contagious and you’ll continue saving more and more.