Simple Strategies To Growing Your Savings

It is suggested that everyone has about three to six months income saved away as a “rainy day” fund, but the average American has far less than this amount saved. According to a recent poll, 57% of American’s have less than $1,000 put away in a savings account! So, what can you do to start saving more? Keep reading for tips on how to grow your savings!

Make A Budget

You won’t be able to successfully save any money until you have worked out a realistic monthly budget and are sticking to it. A popular budget plan is the 50/30/20 rule in which you spend 50% of your income on your needs, 30% of your income on your wants, and 20% of your income goes towards savings. Once you have worked out your monthly budget, you will need to decide on a system to track your spending and saving habits t