There are two types of people in this world, the spenders and the savers. It does not matter which side of the line you are behind, because we all should invest in ourselves. Most have heard the saying, “A penny saved is a penny earned.” While picking up stray pennies is ONE creative way to get extra money, here are seven steps that are sure to help fatten your piggy bank.

Step 1 – Define your goal. Write the goal down and keep it visible. If you can see it, the more likely you are able to stick with saving.

Step 2 – Evaluate your expenses versus income. This can be particularly brutal once seen in black and white. Sometimes seeing where your hard-earned money flow goes can change spending outlooks.

Step 3 – Determine what can be eliminated or cut back on. Monthly subscriptions, daily coffee, and a bagel, eating out EVERY weekend, you get the idea. Create your own coffee drinks and smile, because with every sip, you are saving money.

Step 4 – Now, this is the hard part. Actually unsubscribing, changing habits, and cutting up the credit cards. Think outside of the box: instead of shopping, set up a clothing swap with friends. Have dinner and game night at home with friends and family. Just think of the tip money you would have given away, now in YOUR piggy bank!

Step 5 – Investigate what savings type best fits your lifestyle. Here are just a few to research…There are epockets, which are attached to checking accounts. The money is put in the “pocket” and you never even notice that it is gone. It is funded when deposits are made. Many banks have Christmas Club accounts. It is your prerogative if that is actually what you use it on. The funds are deposited into the Christmas Club account beginning in January, and the funds are not able to cash out until December. If you are only wanting a savings account for life’s unexpected emergencies, an Emergency Savings would fit the bill. Most Emergency Savings accounts have a set dollar amount goal, usually $1,000.00 to $5,000.00, respectively.

Step 6 – Make your savings a priority. Designate a certain date, like payday, to invest money, whether weekly, biweekly, monthly, or quarterly.

Step 7 – Then just sit back and watch the money in your account grow. You will learn to love the bank statements, seeing your money grow instead of disappearing! Financial education is a lifelong process, respecting the value of money, and making it work for you and your goals is key. From the first coin into a piggy bank as a child to drafted monies into secured accounts as an adult, each is a valuable lesson. No matter whether you are saving for a special Christmas gift, the newest gaming console, or a new set of tires, taking control of your finances is a step in the right direction.