Pay yourself firstSet up an auto debit from your bank account to your savings account each payday. Pay yourself firstThe secret to increasing your savings — whether it is earmarked for your emergency fund or another savings account — is to pay yourself first. Make it automatic: Use your online banking resources to set up auto deposit from current into your savings account. Emergency fundOpen a separate bank or savings account if you don’t already have one and name it “emergency fund.” If you find an account that earns interest, that’s even better. Studies show that having even N10,000 in a savings account makes a major difference in financial well-being.

Source: Punch June 25, 2019 23:03 UTC