If you've ever tried to start a savings account, you've probably thought that you need to be depositing a fairly sizable amount each month to make it "worth it." Typically we think big, and try to deposit $50 or more each time – otherwise it seems like it's not substantial enough. Saving isn't about big leaps, it's about small steps.
Start small and then build up to those bigger deposits. Just $10 a paycheck can be worth it over time. If you did that every two weeks for an entire year you'd have enough to open up an individual retirement arrangement (IRA) toward your future. Starting with small deposits as a regular habit will help you develop a system of saving that can steadily grow into more each month.
Find Areas to Save
Take your income tax refund and use it to start saving this year. That holiday bonus you spend right away every year? Deposit some of it for next year's holiday season. Do you spend on small items every day? Coffee, takeout lunch and other small items add up fast — so, consider replacing these a few times a week with homemade alternatives.
Start a Habit
Use this spring to start anew, and save up for your retirement, a vacation or to have an emergency fund. Whatever your goal, remember that savings is easier if you do it gradually and build it into your budget. Automatically depositing a few dollars of your paycheck into a savings account couldn't be easier — it just requires taking that first step.