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one good way to increase savings

May 13th, 2006 at 12:19 pm

I wrote about HeliumKnowledge yesterday. Today I answered the question "If you had to name just one good way to increase your savings what would it be?" I brought up paying yourself first and putting the money in a really good savings account, like INGDirect. Of all of the ways to save, that would be my one pick if I had choose. It's easy, it's safe, and anyone can do it. I'm quite happy with my INGdirect account and I've even recently purchased one of their 9 month cds. Once I'm able, I'll be setting up a direct deposit to go to them every month.

What are some of your favorite ways to increase your savings?

4 Responses to “one good way to increase savings”

  1. Thrifty Ray Says:

    I cook meals at home, from scratch whenever possible....which means we rarely eat out....This is our #1 savings method.

    I started a 'Birthday Club' with my family. Each family deposits a small amount each month...and all birthdays and party costs are covered...No one has to scramble for the 'perfect gift or to come up iwth money for a birthday....The birthday recipient knows they can choose cash, gift certs or a gift..and the dollar amount is the same for everyone. Everyone looks forward to their birthday.

    I stay out of stores. No temptation, no spend. Smile

  2. wooleyduck Says:

    Hmm, I really like the idea of the birthday club.

    I'm with you on the avoiding stores! Smile
    I've found that the more I try to save money the better cook I become, too. An added benefit!

  3. Ima saver Says:

    I take all the money I save using coupons and the store cards and deposit in in my savings account.

  4. wooleyduck Says:

    Excellent idea. I'd considered doing that with the coupon savings but hadn't even thought of the money saved by having a store card.

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