Effective Saving Scheme

Live within your means. Have an amount directly taken from your paycheck each period so that you do not have the chance to spend it.

Pay off all of your credit cards (if you have any), cut them up except one and keep that one for emergencies (REAL emergencies). Take what you were paying to your CC and put it in a savings account. You can also open an account and 15% of you monthly income into it. You should also write yourself a budget, this will show you what you are currently spending your money one, what you can cut out of your expenses and allow you to budget.

A low income earner can save money by working extra hours than his usual work.. so that at time of need he can use it instead of borrowing others favour...

love the pic...One thing you will need to do is look over all your expenses and what you have to pay and what you might not really need...When making purchases look and look then buy ..get in a habit for purchase other then nessities you shop around and really think do I really need that or can I do with out..soon you will see you are able to save some..I am not rich and work at home and support myself. I I do not have alot of money but..my bank offerd a great deal to open up a cd (certificate of deposit). I was able to open it up for 25.00 each month now I put in 25.00..does not seem much but just go a statement now and wow I did not miss the money really and I have alot in there and with the intrest rate was better than the saving account...

If one can do little extra work than normal, the extra earning should be kept aside as savings. SAVE FOR THE RAINY DAY is the saying. This will help anyone avoid embarrassment of asking others for financial help when it is really required.

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