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Quick Tip Thursday: Save Extra Income

There’s a lot of things that can come up during the span of a month that costs money. Don’t wait to save your extra income. Watch the video below to see why.

 
Sometimes we get some extra income.  This is a great opportunity to build up your savings.  However, I just want to offer you a warning when it comes to extra checks coming in.  My girlfriend started receiving expense checks every couple of weeks.  We would put these checks straight into our checking account with the plan to transfer the money into savings when the month ended and the money was left over.  My tip for you… Don’t do that.  We would always seem to find something to spend it on.  Every month something would come up or we would see something that we wanted and buy it knowing we had the extra money in the account.  My advice- put the extra money straight into savings.  Don’t wait until the end of the month because the money will be spent long before then.

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