In my experience as a money editor, I’ve received quite a bit of good (and bad) savings advice over the years. The bad? Anything that requires me to cut out a daily coffee. (Yes, I know, my $4-a-day Starbucks habit is draining my kid’s college fund!) As for the good advice? Here’s what I’ve got:
1. Nickname Your Accounts
I learned this one from myvery own financial planner: When setting up a new savings account, label it by intention (say, a 2020 Portugal vacation or a better car) in order to incentivize yourself to contribute. Most banks make nicknaming easy (Capital One’s 360 Savings例如,给你还n to label 25) and I’ve found it’s also a useful way to spend the funds you save on stuff that actually makes you happy.
2. Gamify Savings with Your Spouse