Savings Day – Dollar Diet and Rounding Up

It’s Build Your Savings Day!

Use the “dollar diet” method of depositing money that you don’t spend each week. As your savings grow, I hope you’re gaining confidence and motivation to find other ways to cut spending and to put more in savings. 

Here’s another tip. When making deposits, round up to the next ten or a hundred dollars. For example, with a $472 deposit, you can round up to $480, or add an additional 28 and you’ll have $500! If you are a regular listener, you know you need a minimum of  $1000 in an emergency savings account. Set a goal to reach 3 months of your living expenses in savings then increase it to 6 months. 

For help reaching your savings goals, download the ELI App at crown.org.