Today I will share an interesting story about a young manâ€™s savings habits, and what one change in his account did for him.
My brother is what you may consider a frivolous spender, he hardly saves, when he does save it is only because he gets a lump sum of money at once, however that â€śsavingsâ€ť is soon depleted.
Just under a year ago, when my brother came to me asking for a bit of advice on what could he do to so he can save some money. Obviously, my first response was that he should stop spending so ridiculously, and start working with a budget.
However, knowing him, he wouldÂ not listen to that piece of advice. That is why I decided to introduce him to TDâ€™s Simply Save program.
What is TD Simply Save?
For those who do not know, TD Simply Save is a program that automatically deposits money into your savings account every time you use your debit card.
He set the maximum contribution limit, which is $5. With that said, he has been transferring money every time he used his debit card, which was great for him, especially since he forgot about it.
The beauty of everything is that just recently it came to his attention that he has saved quite a bit of money, much more than he would have done on his own.
This shows how successful the TD Simply Save program is. You are able to save money so easily, that you can even forget about it. This program is amazing and very beneficial for those who cannot find a goal to save towards.
Why do I need a goal when saving?
When someone has a goal in mind, they are motivated to save their money. However, when there is no goal, anything that they come across, they will want to buy just because they have the money.
TD Simply Save is a great program that lets you save despite not having a goal in mind. You are able to save constantly, allowing you to reach an amount you may have never thought possible.
For those who are finding it difficult to save money at this point in their lives, you may want to consider using this type of savings program. It is efficient, and will definitely got the job done.