One trick to managing paychecks every month so as not to run out quickly is to immediately do an auto debit for a number of funds to save. Allocate at least 30% of the salary you have to go directly into a savings account. To make it more organized, of course you need to have a special account that is intended for savings and can not be contested. The account must be separate from the account used for daily transactions.
If you currently don’t have a special account that is dedicated to savings, it’s a good idea to start considering opening a new account. Of course when deciding to open a special savings account, you have to consider a number of things so that you don’t choose wrongly and still support you to save. Here are 4 things that must be considered in choosing a special savings account.
Minimum Balance Required in Account
The thing to note in choosing a savings account is to find out what is the minimum balance needed in the account, including the minimum balance at the initial deposit. Failure to know the minimum balance contained in a savings account can of course lead to fines on your account. Instead of actually saving, this of course will potentially make you become lazier, right?
Knowing the administrative costs charged in the account is also one of the things that must be considered in choosing a special savings account. Some well-known banks usually charge administrative fees. Although the nominal is not large, if accumulated in a year it can reach hundreds of thousands. Therefore, if you really allocate an account for savings, it’s good to choose the type of savings that actually frees you from administrative fees. So, the nominal in your savings account is not disturbed at all.
Access to ATMs
Remember what your main goal is when creating this account, specifically for saving. Therefore, you also must pay attention to preventive measures that you can take so that you are not easily provoked to use the money for shopping or other purposes. To get around this, you can choose a bank whose access to the nearest ATM is not too easy to reach from your area. In order to support this, it’s good to leave an ATM card at home, so you won’t be more easily provoked to shop or withdraw money when you meet with an ATM.
Have Easy Transfer Access from the Main Account
Even though it’s not the main one, make sure that access to transfers from the main account that you have for monthly transactions is easy enough for a savings account. This works so you don’t have to bother making a cash deposit when you want to save. The difficulty to make transfers from the main account to a savings account can result in you tend to be more lazy to save because you have to make a cash deposit manually.