What if I told you that one daily change could help you rack up thousands of dollars? Certified financial planner Anthony Badillo says this is totally possible, and it’s a lot easier than you think. A lot of people have heard of the idea of a “fun fund” where you put extra money and change into a jar to rack up for personal savings, but maybe this new method will work even better.
His first suggestion is to do the “dollar a day” challenge, by placing a single dollar in a jar or savings account every day. Over the course of 50 years, you’ll have saved $18,250 dollars. But we can do better than that. The next tip is that, every time you come across a 5 dollar bill in your life, tuck it away. Put it in its own jar and you’ll quickly see savings skyrocket. Of course, these methods aren’t meant to replace casual coin jars, but merely add to the amount you put away to help double or triple the money you can rack up.
One last tip is for you online shopaholics out there. If you frequently purchase items online, you should take at least one hour to let the idea of making the purchase linger before adding to your cart. If one hour doesn’t seem like enough time, use the 48 hour rule. Either one can save you big bucks in the long run.
Check out the rest of the video player above for all the tips and tricks to have your savings increase every single day.