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Emergency funds and investment

Whatever money you save on sales and discounts, use it in investment to increase your income and establish emergency funds. It does not matter how much you would save every week or every month, small amounts add up. We all can save even though we are on small budget. Below is a list of tips to help you save

  1. Consider saving as a bill payment, open an account and transfer every month $20, $30, $40. This small amount of money won’t break your budget.
  2. If you just  finished paying a big debt such as a car payment or a student loan, keep paying the same amount of money to yourself
  3. Buy a big jar and empty your pocket every night and put the change in the jar. By the end of the month deposit this money in your bank account. We all have change in out pockets and we all find excuses to spend this money either on chocolate bar or gum.
  4.  If you received a tax refund or received a bonus, do not spend the amount deposit it in your account.
  5. Every time you treat yourself to something that you like, put aside a dollar or two in the jar.
  6. Every time you buy an item on sale or you get a discount, put the money difference in the jar.

Avoid paying Bank account extra fees by following the next list

  1. The most importing step you take is to balance you check book, by staying up to date on balance, you avoid overdraft fees.
  2. Know how much time your bank will hold your deposit, you could avoid bouncing checks fees.
  3. If your account must maintain a minimum balance, try not to go below that balance

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