2. Save Money Easily With Automatic Transfers

Automatic transfers to your savings account can make saving money much easier. By moving money out of your checking account, you'll be less likely to spend money you wanted to use for savings. There are many options for setting up transfers. You choose how often you want to transfer money and which accounts you want to use for the transfers.

You can even split your direct deposit between your checking and savings accounts to contribute to your savings with each paycheck. Thinking of saving as a regular expense is a great way to keep on target with your savings goals.

3. Practice the Millionaire’s Formula

A common man’s way of thinking is usually that he saves after meeting the necessary expenditures. A wealthy person’s style is the opposite: which we call as the Millionaire’s Formula.

Here’s how it goes: upon receiving your income, put a certain percentage towards giving back to the community, and also a certain percentage for your investments for your financial goals. Only spend what is left.