ingly looking for ways to save. Here are a few suggestions: 1. Call your company’s payroll department and ask them if you can split the Direct Deposit of your pay between two or more accounts. If you can, have them deposit just enough to cover your expenses into your checking account and deposit the balance into a savings account. Because the money is transferred electronically, you will establish a consistent savings program without “seeing” the money. If your companywill not let you split your Direct Deposit, ask them to consider adding this option to the company’s payroll. A 2008 survey by the Consumer Federation of America showed that out of those employees who have access to Direct Deposit AND use it, only 59 percent have the option to split Direct Deposit. 2. Save energy while you save money. Turn your furnace down by two degrees or your air condi- tioner up by two degrees to notice significant savings in your monthly bills. Unplug appliances that are not currently in use. Even if the appliance is not turned on, it’s still using energy and costing you money if it’s plugged in. Ask an insulation companyto do an energy audit of your house. The company can tell you what areas of your houseare losing the most energy and howto fix those problems. 3. Get rid of things that you don’t use. Cancel your gym membership if you never go. Cancel premium channels from your cable system if you never watch By taking advantage of Direct Deposit and other automated financial plans, it’s possible to save a lot of dough. them. Cancel your home phone service and just use your cell phone. Don’t renew subscriptions to magazines or newspapersthat you never read. Sell clothes, shoes and equipment online or donate to a charitable organization and use the amount as a deduction when you itemize your taxes. 4. Downsize. Trade in your car for one with lower monthly payments and higher gas mileage. Split meals at restaurants with huge portions. Order a small latte instead of a large at your favorite coffee shop and save hundreds of dollars a year without having to give up your favorite treat. 5. Pay yourbills electronically. Save money on stamps, envelopes and the gas that it takes you to drive to the post office. Paying electronically is simple, safe, smart and environmentally friendly. For more information about Direct Deposit or Direct Payment, visit www.electronicpayments.org.
