My favorite easy way to save money is by automating transfers from my checking account into a dedicated savings account. Each payday, I have a set amount automatically withdrawn and stashed away before I even have a chance to spend it. This "set it and forget it" approach removes the temptation to dip into those savings. Over time, those automatic transfers really add up without any extra effort on my part. It's a simple, mindless habit that has helped me build an emergency fund and save for larger goals like a down payment.
What is your favorite easy way to save money?
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The best way to save money is not to squander by buying things that are really not required.
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I put a portion of my monthly earnings into a fixed deposit account. Although this is not an automatic transfer, I do that regularly every month.
I am actually a fan of automated savings. It makes you to be completely intentional about your savings.
I normally take a "savings first" approach. My income is fluctuating. Thus, I do not have a set amount to save.
