Six Simple Steps to Saving Successfully SSS

1. Make it automatic

The best advice I can give you is to make your savings automatic.  Find a savings account that lets you set up automatic deposits.  You may think you'll be adamant and alert and remember to transfer your monthly contribution, and that it'll be a piece of cake...but don't waste your time.  The end of the month will come along, and most likely you'll have spent that money or decide to put it off until next month, because it's 'too much of a hassle right now.'  But really, even if you can save monthly you're better off setting up an automatic deposit, if simply just to save time.

2. Time it right 
Either take it out of your paycheck immediately or schedule it to transfer right after you get paid. Don't wait until the end of the month when you've had all 30/31 days to spend your hard earned cash on something else.  As I mentioned before, once it's close to the end of the month you'll be a lot less likely to transfer money to your savings.

3. Have a goal
You know what makes someone a good saver? Wanting something he/she can't get.  Vacations or concert tickets are a great start.  Figure out how much it will cost and start allocating a little bit every month.  By the time you go on that vacation, you won't need to worry about credit card debt, expensive meals for your girlfriend, or skipping out on that cool snorkeling expedition because the funds are running low.

4. Make it a habit
I would much rather you save $5 every month than $1000 once a year.  Why? It's about making saving a habit, a part of who you are. Not a one time, 'I got my tax refund!' kind of act (though there is absolutely nothing wrong with putting your tax refund into a savings account)... Studies show (don't worry, I've seen 'em) that people who learn to save a little every month or every paycheck start saving more.  Somehow you start to realize how easy it is and you start 'risking' more and all of a sudden you can afford a freaking boat! (FYI that would be an awesome goal)

5. Make it a budget item
If you have a budget, great, add savings as an expense.  That money is gone! Buh-Bye. Well until you take it out to fulfill your goal...

6. Spend it! 
Unless your goal is an emergency fund, allow yourself to spend it.  That's why you were frugal and saved in the first place.

You ready to do this?
Here are some resources that'll help you get started right away:

• Smarty Pig (Great for getting started because it forces you to set a goal and timeline) 
• ING Direct (I currently have an account with them, though I started it way back in 2005 when the interest rate was a whole lot higher)
• Get Rich Slowly Blog This blog has a great summary of different savings accounts with high interest rates