How to start a new savings habit in 2023

A penny saved is a penny earned - Start small and watch it grow - A nest egg for the future.

Savings will make you rich, - In time and peace of mind.

Here are seven steps that can help you start a new saving habit this new year -

Set a clear and specific savings goal. This will give you something to work towards and make it easier to measure your progress.

Create a budget. Determine how much money you can realistically set aside each month and allocate it towards your savings goal.

Automate your savings. Set up automatic transfers from your checking account to your savings account to make it easier to save.

Track your progress. Keep track of how much you are saving each month and how close you are to reaching your goal.

Stay motivated. Remind yourself of your savings goal and the reasons why you want to achieve it.

Reward yourself for reaching milestones.

Be consistent and stick to your plan. Building a savings habit takes time and effort, but with persistence, you can achieve your goals.