SAVINGS TIP 6

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Setup automated saving amounts as most financial institutions offer multiple bank account options, you can often request a portion of your salary to be deposited into a higher interest savings account than your everyday transaction account (automatically on a regular basis), which will enable you to stick to your budget. Keeping savings out of easy reach can be an effective deterrent against excessive spending on non-essential items.

An even better option may be to give the secondary account details to your employer and ask for a fixed portion of your salary to be paid to your savings account.

Furthermore, you could consider opening a savings account with another financial institution which means you won’t be able to instantly transfer funds between your linked accounts.