A habit is “an acquired behaviorpattern regularly followed until ithas become almost involuntary.”

By creating good savings habits as ateenager, you’ll have the tendency

to carry forward the same goodsavings habits into adulthood.

Saving Strategies

Direct Deposit

Electronic funds that are deposited directly into your bankaccount rather than through a paper check

Why would this be a good idea?

• Convenient• Secure• Reliable• Allows for automatic savings

• Other reasons?

Direct Deposit Setup

Setting up a direct deposit is easy!

Choose the account(s) where your pay will be deposited.Tip: Split your pay among multiple accounts to save instantly!

Pay Yourself First

Automatically route your savings contribution from eachpaycheck at the time it is received (through direct depositor transfer).

Make yourself and your savings the top priority!

On payday, have money depositedright into your savings and never miss out on the opportunity.

The “Latte Factor”

David Bach recommends looking at the small things you spend money on every day to see whether you could redirect thatspending to savings.

What do you spend money on each day?

For example, how much could you save bymaking your own coffee at home each day?

Summary

• Take advantage of direct deposit

• Pay yourself first

• Find your own “Latte Factor” and save