It seems like “there’s always something” that needs fixing. Child expenses. Doctor bills. And it seems like it’s harder and harder to save money.
For emergencies. For vacation. For retirement.
However, I just read a science-based study with tricks on how to kick your savings goals up a notch, so I wanted to share some of the ideas that others have used to get your brain into the “savings mindset”.
Nickname your savings account. Naming your account helps you establish an emotional connection to your savings goal. Your emergency savings could be called “Crap Happens”, or your vacation fund, “Let’s Have Some Fun”.
Switch Spending Habits. Let’s say that you spend money on pizza delivery every week (which costs extra with the tip). Consider instead picking up the pizza, and as a reward, deposit the $5 tip into savings.
Visualize Your Goal. Create a vision board or tape a picture of what you are saving for to the back of your credit card to remind yourself of your goal. Another way to visualize is to create a thermometer (like United Way) and color it in as your savings increase.
Phone a Friend. Partner with somebody who has a similar savings goal as yours and share ideas on how each of you have saved money.
Put Your Savings on Auto-Pilot. Most employers use direct-deposit to pay your salary or wages. Ask that part of the money be put into savings instead of it all going into a checking account. If you are self-employed, designate a dollar amount to go into savings each month BEFORE you pay yourself. This is the best option of all.
Saving for Retirement. Take advantage of your company’s retirement program. Even if you change jobs, the money can be transferred to another retirement fund.
What have you done when you wanted to save money for a special event
Published by Heather Paige Moody
Welcome! I'm Heather ( AKA: Paige) Moody . A Little About me: I was born and raised in a small town in Eunice, Louisiana where I started my first mortgage company in 2005 at the age of 21 years old. Since 2005 I’ve grown to know everything when it comes to the industry, from owning a mortgage company, processing loans, mortgage underwriting rules, to now managing.
Why I’m in the Mortgage Business:
My family has a history of Banking and real estate . I could see at an early age how satisfying the real estate profession was for them, so I started off as a Real Estate agent and quickly realized that the mortgage side was my passion.
I am a mother of 4 very active kids that have been/ are being raised in the Real Estate /mortgage world. I have always said that their first baby blanket was a file folder.
I love to be able to teach that going the extra mile for others is such a blessing to us as well as the other person. Most importantly that no matter what the obstacle is that we must work hard and give it our all in all that we do. Our family lives at a field or a gym for most of the year. Between baseball, cheer, volleyball, football and anything they can possibly sing up for, I have developed little-known disease called Bleacher Butt.
When I am not working ( or should I say.. not behind my desk) or attending an event for one of the kids . I really enjoy bible studies , reading and listening to podcast. My children go to 2 different schools and I am so blessed to be part of two Mom’s in Prayer groups. It is a National Organization that Moms can get together to pray for our children and our school.
As the Southern Mortgage Mom, I help homebuyers and Real Estate Agents make the Mortgage buying process as stress free as possible. I have been called the miracle worker by clients and agents( on occasion) because I have saved some mortgage loans that others have denied . It has nothing to do with miracles , but all to do with knowing how to get a loan approved.
If I am lucky enough that you chose me or my team as your go to lender, I promise that I will be fair, I will be honest and you will feel like family when you sign the final papers and I will keep in touch (till you tell me not to) long after the mortgage loan is closed. Looking forward to working with you when it comes time to buy a home or refinance your current mortgage.
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