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2. Put Part of Your Paycheck Into a Checking Account That Pays

If you want to start saving money, either for a vacation, a new home, a car, or whatever else, you have to do it the smart way. First, you have to figure out how much of your paycheck you can set aside without allowing your other expenses to suffer.

Then, and this is the difficult part, you need to shop around for a checking account that pays. Take PenFed’s Access America Checking account, for example. Depending on the daily balance, it has an APY of 0.20% or 0.50%, meaning that it’ll pay up to 12 times more than the average checking account.

This is the sort of stuff you need to look out for so that your money can work for you by sitting in an account while you keep accumulating it! By contributing anywhere between 5% and 20% of your paycheck you’ll see an immediate boost in savings.