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A Beginners Guide To Saving Money

Every time you walk into the store with your parents, do you see things you want, but simply cannot afford? Does it seem like you should have more money saved up than you actually do? If you answered yes to either one of these questions, now might be the perfect time to take a fresh look at your savings plan.

4 Steps To Help You Master The Art Of Saving Money

  1. First, make a list of the things you want to save money for. This would include what the costs are, when you would like to purchase the item by, and how much you will need to save each week.saving money at a young age can lead to financial success later in life
  2. Second, choose a safe place at your home where you can save your money, such as a piggy bank. Every time you get paid for your weekly chores, stash some away in your special savings spot.
  3. Third, take the remainder of your cash and put it away, safe and sound into your Launch CU Kids’ Savings Account. Your money will start to earn dividends all while staying safe and secure until you need it in the future.
  4. Fourth, keep a daily record of how much you are spending, what you spend your money on, and how much you are saving each week. This will help you stay on target to meet your financial goals.

Being aware of how you are spending your money and keeping track of your expenses are the first steps of saving money. Having a solid savings plan in place will make it easier for you to stay on track with your financial goals, and help you afford that much desired item at the store. Learning how to save at a young age will help set you up for financial success in the future. A little sacrifice now will payoff in the long-run.

© Launch Credit Union and, 2017. Unauthorized use and/or duplication of this material without express and written permission from this site’s author and/or owner is strictly prohibited. Excerpts and links may be used, provided that full and clear credit is given to Launch Credit Union and with appropriate and specific direction to the original content.

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