a very simple step by step way to start saving your hard earned money. Forget disposable income, no such thing. Don't fall into the ATM or Debit card trap. Take control of your assets.

1. How to Simply Start Saving
You have to start somewhere

2. There Is No Such Thing As Disposable
Income
You work, you work hard, what if I told you to
throw your money away? You would look at
me like I had lost my mind. Advertisers will
call anything that is not spent, like savings,
discretionary money, disposable money.
Don’t listen to the advertisers, they are trying
to separate you from your earnings.
This trick will allow you to start saving.

3. Your First Bank Account
• Open a checking account
– You will need a photo ID, your social security number,
and a third kind of identification.
• Ask your banker for two check registers
• Ask your employer if they provide direct deposits
to your account
– Most banks will allow you to pay your bills on line for
free if you have direct depositv
• Keep in mind that banks have fees, including the cost of
printing checks.
vTalk to your personal banker about all fees, if you don’t like the
fees at one bank, shop around.

4. Your First Direct Deposit
Enter the amount into the first check register.

5. So why do I need a 2nd Register
This is your checking
account.
This is your temporary
holding account. Label
it “Savings” so the two
don’t get confused.

6. Pay Yourself First
When you enter your pay
deposit in the register, multiply
the amount by 10% and deduct
it from your checking account.
Enter the amount into
your “savings” register.
Then forget about it.

7. Make it a Weekly Habit

8. All those Little Deposits Add Up
When you have enough money to open a savings
account, move your savings to it; or not, ask your
banker about banking fees and choose the option
which works for you.

9. Repeat

10. So How Do I Balance This Mess?
Take the total amount from your savings register and
subtract it from you bank account total.

11. Balancing Your Check Book
• Once you know the amount you need to
balance your account (total less saving
register), it is just a matter of marking the
items that have cleared your checking account
register.
– Here is a helpful site that walk you through the
balance reconciliation process
http://financialplan.about.com/od/banking/ht/Bal
Checkbook.htm

12. What Should I Do With My Savings?
1. Don’t spend it, even if it is an emergency (unless you have completed #5
below).
2. Don’t loan it out.
3. Never bail anyone out of jail.
4. When you have saved enough equal to six months of net pay, invest it in a
liquid (easily obtainable) account or fund.
1. This amount is now your “Emergency” fund, in case you lose your job.
5. Do it again.

13. Final Advise
Just say NO to the ATM or the Debit Card, these transactions will trip
you up when you are first starting to save. Banks charge fees on
these transactions. Give yourself a “reasonable” weekly cash
allowance and stay within that limit.