budget, purpose, savings

Financial Friday: Savings accounts

Hi friends,

It’s a great idea to open up a savings account and tag it for a specific purpose.  Check with your bank, you can often open a saving account online, quick and easy, and for free, with no account fees.

Then, once you have it open, label it for yourself for a specific purpose.  For example, a rainy day fund, trip fund, or sports fund.  Every payday, deposit a little bit of money into your new savings account, whether by automatic deposit or transferring the money yourself.  Even $10 a payday will add up, and you’ll be thrilled to see your account for a purpose grow.
I’m doing this now for my trip fund 🙂
Amy

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