One of the biggest excuses people give for not saving is that they have no money left at the end of the month. Those would-be savers can do themselves a world of good by turning things around and making their savings into just another bill that must be paid.
This is known as the pay-yourself-first strategy, and it is both simple and effective. With the pay-yourself-first strategy you treat your investments as just another monthly bill. So if you want to put away $50 a month, you write a check to your favorite mutual fund, or transfer the money electronically, at the beginning of each month, before you have a chance to spend the money elsewhere.
You can start this strategy with just a few dollars if you wish. You do not have to cough up $50. Instead, you can start with $10, or even $5. The key is to get started and get into the habit of savings. Once this strategy is in place, you will find it much easier than you ever thought to save and invest for the future.
