If you're like me, you have a lot of trouble holding onto money. You know you should save, but it's hard when you have all of it right there in front of you. Well, this is a system I devised to keep myself from spending all of my paycheck money, and it should help you too.
Most, if not all, direct deposit systems allow you to split up your paycheck and deposit money into multiple accounts. In order to do this, you'll need two accounts -- most often a checking and savings, but I recommend a savings account and high-interest Money Market Account (because there are penalties for withdrawing from MMAs too much, which can help discourage their use as a regular savings account). Every system is different, but it'll end up looking something like this:
|Priority||Routing Number||Account Number||Amount|
Start small: $25 every week doesn't sound like a lot, but that's $1300 a year. As your income increases, so should the amount you set aside. Pretty soon, you'll have quite the volume of cash to work with, particularly in case of emergencies.