RICHMOND, Va. (WWBT) - Let’s save $2,000 in 2020. Maybe you want to spend it on a vacation or on a renovation project to fix up that bathroom. You have to think about that goal like this: Divide $2,000 by 12 months. That’s $166 bucks a month that you need to set aside. Or you could look at as $41 dollars a week. And the easiest way to make this happen is to automate it.
Make it come directly out of your paycheck each month or week and into a savings account. Cherry Dale with the Virginia Credit Union says doing this is like hiding it from yourself.
“Do this so you know it’s there, but it’s not front of your mind. You want to automate it. That way the money is automatically being saved,” said Dale.
Maybe you even go a step further and open a separate savings account with a different bank. That way you don’t see that money at all when you log into your checking account online or on your phone.
Copyright 2019 WWBT. All rights reserved.