Save Money with This Simple Method

There are different ways to save money — some people save their windfalls, like tax refunds or bonuses — but the best way to save money is to do it habitually (i.e. every week) and automatically (so that you don't really have to think about it.)

Save Money with the 52-week Savings Challenge

Here's how it works: In week 1, you save $1. In week 2, you save $2. In week 3, you save $3. No, there isn't a lot of money flowing into your savings account (yes, it goes into an account, not a jar) in the beginning, but you're building a habit. By week 26, when you save $26, you'll have $351. By week 40, when you save $40, you'll have $820. And by this time next year, you'll have $1378! But more importantly, you'll be a practiced saver, and saving will be a habit. As you follow this plan, keep checking back for a new tip each week on how to maximize your savings.