It can be easy to dive into an impulse purchase whenever we see extra funds in our account not allocated towards a bill or other expense. Instead of that impulse purchase, what if we saved any extra money you have every month?
We’re more likely to save a windfall than a small amount consistently over a long period of time. Hack that psychology by saving your bonuses, raises, and tax refunds. Since it’s tax season, now is the perfect time to get ahead of your financial goals by planning to save your tax refund. If you don’t want to save all of it, at least set aside a portion of it to help boost your savings goals. .
When you receive a bonus from work, save it! When you receive any unexpected income, set it aside in your savings and watch the balance grow. Turn this into a habit, along with saving your extra funds each month, and you’ll start to see a real difference in your savings goals and habits. You could even go so far as to start a side hustle that’ll bring in extra funds for your savings. Whether it’s a second job, or maybe garage sales to sell clothes you no longer need, those can be great ways to boost income that can be funneled towards savings.
