Sunday, February 25, 2007

How To Save Some Extra Money

I came across an excellent tip to help you save money. This is ideal for people who have a hard time saving money or are living paycheck to paycheck.

Step #1. Open a high-yeild savings account this E-Trade, Captial One or various others. Make sure they have no fees.

Step #2. Setup that account to automatically withdrawl a certain amount each week from your checking account. Even if its just $10 a week.

Step #3. Just watch it grow.


I use an E-Trade account to put $20 a week into. The rate on E-Trades savings account is currently 5%. Now $20 a week may not sound like a lot, but it will add up over time. It is all automatic. I don't have to worry about writing them a check for $20 each week or sending them that $20 I found in my wallet. The big thing is not to use this money unless its an emergency!

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