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For new families starting a budget there are many questions as to what is the best way to save. The truth is that asking that is like asking the best way to get healthy. The answers are varied and it often comes down to a personal preference. It depends on what style works for you. So here are the two main identities of the saver and this should help you figure out who you are.
The first is the rabid saver. This person saves like it’s life or death. They don’t believe that it’s okay to spend money that they don’t absolutely have to. So, when it comes to spending they like to think of savings first. They pay all their bills that they have to, give themselves only the necessary spending money and give the rest to their savings account. It is effective although can be a little restrictive.
The next is the bill saver as some call it. This is someone who treats savings like it’s a bill. They make sure to pay that “bill” every month for the agreed upon price. They will readjust as needed but often times they enjoy using the left over money for their personal purchases that they can have fun with. This person won’t have nearly the savings that the rabid saver does, but they will often have a little more to show for their money than just a savings account.
No matter which person you are more like you must admit that savings is important. Giving as much as you can, whatever that means to you, is important for now and the future.
