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FINANCE SPOTLIGHT: SAVINGS PT.2

Savings from your paycheck. Hearing this statement might make you laugh out loud but it’s possible! First let’s shift our mindset that we can’t save from our paycheck.

So let’s try to save for one month, and see if you will miss the money. When you you manage that first month, then do it for another month.

Once you become comfortable with that amount set aside you will be so proud of yourself. Honestly imagine if you save $1.00 a day, in a year you would have $365.00 in your ‘piggy bank’ at the end of the year.

Tips….

  • If you are paid weekly, you will save $7.00 from the weekly check. Put the $7.00 directly into your saving spot - a piggy bank, mason jar; or a gallon Ziploc bag.

  • If you are paid bimonthly then you will put $14.00 in your ‘piggy bank’. Your $14.00 will go directly to your saving spot.

  • Then If you’re paid monthly it’s $30.00 in your ‘piggy bank’. Your $30.00 will go directly to your saving spot.

  • You will make this payment to your saving spot every-time you get your paycheck. It will get easier and easier with every deposit, and know this is for you.

  • Now next the fun! It is time to reward yourself. We believe that is so important to reward your accomplishments of saving. With After-pay, Klarna , and Shoppay you can make your purchases and reserve your cash outlay at the same time.

With these platforms you will make four equal payments with no interest. My suggestion is to at maximum only make two purchases at a time, because you can overextend yourself financial; and will not be in a financially sound position. These payments will deduct from your bank account or credit card every two weeks.