Eight Hints to Boost Your Savings

During these challenging economic times, it's more important than ever to save your money.

Nutritional stores carry a variety of products to help you beef up your physique, but none of them makes a weight gaining formula for your savings account. If your savings balance seems a little underweight, try out this new training program, and watch your nest egg get stronger every month. Whether you're just starting out on your own, or you're trying to catch up on your IRA contributions, you can benefit from these eight savings hints.

Get a piggybank

Your piggybank doesn't have to be a pink ceramic pig. Try using a vase, a painted glass jar, or anything else that you're willing to leave out on the coffee table. Start emptying your pocket and purse change into your bank daily. It may sound old-fashioned, but it's still one of the easiest ways to save.

Pay when you play

Make a rule to put a dollar in your piggybank every time you eat out, go jogging, meet friends for happy hour, or go to the movies. It doesn't matter what the activity is-just pick something you do on a regular basis. Get yourself into the habit of dropping a little cash into your savings jar each time you participate in the specified activity.

Analyze communications services

Look for ways to reduce what you spend monthly on television, Internet, and phone services. You might be able to bundle all three, or switch providers to save a few bucks. Redirect the money you save into your savings account every month.

Save your raise

When you get a raise or cost of living adjustment, put that extra income into your savings account. If you get a second raise, start spending the extra earnings generated by the first raise-as long as you tuck away the added income from the second.

Hide the extra paycheck

If you get paid every two weeks, you're essentially living on two paychecks a month. But every so often, you experience the magic of receiving three paychecks in one month. When that happens, resist the urge to shop; instead, deposit that extra check in your savings account.

Relinquish bad habits

Don't stop at the coffeehouse drive-through on the way to work. Every time you forgo your morning espresso, put the $4.25 you would've spent into your savings jar.

Enlist Uncle Sam

Cash your economic stimulus check, and shove it into your savings jar. Whatever you do, don't spend it.

Putting your savings on a weight gaining program is easier than you think. It's just a matter of developing the right habits and sticking with them for the long haul.