Hopefully, boosting your savings is one of your financial resolutions this year. You have another great year to earn more money, so take this as an opportunity to build your wealth.
Use some of the bonus money you earned to get your savings rolling. The New Year gives a sense of a fresh start, so use it to motivate yourself to save more.
If you receive a raise from work this year, dedicate a portion of it to your savings. Even if a pay raise isn’t happening anytime soon or if your monthly income varies depending on the amount of work you do, you could allot a certain percentage to your savings fund. The key is not to miss setting aside part of your income toward your savings goal.
You can also take part in a savings challenge. There’s the 52-Week Challenge, the 30-Day Challenge, and so on. Do it on your own or in a friendly competition with family members or your most trusted friends.
Another wise option is by partnering with financial institutions to help you build your savings. BPI-Philam’s Build Life Plus is both a savings and an investment product with life insurance benefits added into the package. Your funds in Build Life Plus are managed by professional fund managers, so you can be sure that your investment grows over time.