Let’s talk savings!  I don’t know about you but I tend to want to “fast track” to my goals and especially when we are talking about building a savings account.  I mean who doesn’t want a healthy savings account to fall back on right?

The FIRST and fastest way to start building up your savings is to designate money to go into that account from each paycheck.  When you create your Spending Plan/Budget, include a Savings category and feed that account EVERY paycheck.  Even if all you can put into it is $5 – hey, that’s $5 which comes to what…??? $260 per year.  Think about this time next year and you have an EXTRA $260 in the bank.  You could let it sit there or put it out to work for you bringing in even MORE MONEY!  (We will talk more about ways to put your money to work for you in an upcoming blog post)

The SECOND way to start building your savings is to create an income stream that is used for nothing other than going into savings.  If you could do that AND the first suggestion (mentioned above) just think of where you’d be this time next year.

If you have questions or need help with this, please don’t hesitate to reach out either by email (budgetwithcarla@gmail.com) or you can send a PM thru Facebook (Budgeting Basics-A journey to debt free living)

If you need help deciding on what amount to designate toward your Savings Account or coming up with an income stream, contact me to schedule a Coaching Session ($25 gets a one hour, one on one session).  Together we will talk about your specific situation and start getting that SAVINGS BUILT UP! This is just another step toward paying off your debt and to the ultimate goal of being debt free!