8 Great Money Saving Habits

Good savers start early, certified financial planners who started their firm Financial Empowerment as a way to help people kick bad money habits and develop better ones. Many good money savers were taught as children to sock away for a rainy day, but even those who weren't have learned to jump on an opportunity.

Those that save wisely have a retirement account

It's not new advice, but there's a reason every financial adviser repeats it: Because this is your future we're talking about. A good rule of thumb is to put between 10 and 15 percent of your paycheck each month straight into a retirement account.

Good savers can distinguish between needs and wants

Good savers actually write down a list of their basic needs, their wants, and their big wishes.

Good savers don't rely on autopay

Autopay makes banking easier: In fact, it makes it too easy for money to flow in and out without your really registering what's happening, If you do set up autopay make sure you don't just set it and forget it. Check the transactions at least once a month to make sure the charges are accurate and get a good sense of what you're spending.

Good savers have a budget

Yes, a real, honest-to-goodness written chart or spreadsheet that they update and balance regularly is one of the trademark money-saving tips from savvy savers.

Good savers use cash or checks

This isn't a hard-and-fast rule, but good savers often tend to use physical types of money. Research shows that people can spend more money with credit cards versus paying with cash. Statistics show that the average cash transaction is $22, whereas the average non-cash transaction is $112.

Good savers prioritize saving

It sounds simple, but one of the best money-saving tips is simply making saving a priority in their lives, "Before spending on anything else, they pay themselves first by putting savings into a retirement account or other self-directed savings account,"

Good savers have three to six months of expenses saved

Here's your scary stat for the day: About 56 percent of Americans live paycheck to paycheck, which means millions of us are just one bad car accident or layoff away from financial ruin. It may sound obvious, but good savers save.

Good savers know when it's time to pick up a side gig

Good savers are brutally honest about their income. They know how much they can afford to put away each month, and if they need to make more money to reach their savings goals. If need be, they pick up side gigs to help them meet their goals.

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