The simplest way to save is to 1) make a plan and commit to it and 2) cut unnecessary monthly costs.  Here are a few smart ideas that will help you make those savings deposits and leave them there to grow.  

Put savings first.

When you get your paycheck, go ahead and make the savings deposit your monthly plan calls for. Doing this immediately forms a saving habit and removes the temptation to use those funds elsewhere.

Consider the money untouchable.

Unless it’s unavoidable, don’t withdraw money from you savings account or accounts. For the funds to grow, they have to be there, and you’ll never get far if your withdrawals equal or outnumber your deposits. Some experts believe that naming your accounts with the end goal in mind (retirement, new kitchen, Emma’s education) can aid you in resisting the urge to pull out cash to spend on something else.

Pay attention.

Use MAX’s Smartfolio to consistently check your savings account or accounts balances. That will remind you how well you’re doing and inspire you to keep saving.

Look at the long-term.

When you set up your savings plan and budget, you’ll probably have to make some sacrifices and spend less on things you want now to find the funds to put away for later. Focusing on the future can make it easier to forgo today’s “wants.” That means closely examining what you buy with discretionary income (and why you’re buying it), and putting priority on present needs and tomorrow’s goals.