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Friday, May 8, 2009

A side of savings with that debit please!

Ah, TGIF! I have reached the end of a rather light week of apologies, but I hope you still got some valuable insights from my rantings regardless! This is a very brief entry, but something I sadly neglected to include in my saving change in banks commentary a couple of weeks ago!

While it is great to put coins in a bank, the real banks obviously offer quick saving solutions as well. One option if you have a direct deposit of you paycheck to your checking is to split that direct deposit and automatically deposit a percentage of each check into a savings account. It's still available if you need it but set aside for the most part!

I can't speak for other banks, but I conduct most of my banking at Bank of America and the have a "save the change" program. For each debit card purchase I make, they round the amount to the next dollar and put the difference into my savings account. Provided you remember to mark these slight differentiations out of your check register, it is a quick and nearly painless means of adding to your savings...check it out (again, no pun really intended...but it works doesn't it?!).

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