Get family members to take on the role of your savings account keeper
No willpower to save up for a rainy day? Why not try a new disciplining scheme. Get family members to take on the role of your savings account keeper! Here’s how to get started:
Create a separate account to credit your savings into.
Next, make a pact with your family, asking them to check on your monthly savings. Discuss with them the “terms” of your savings account such as the amount you’d pay every month and the date you’ll be paying into the account (very much like the terms a credit card vendor would impose on you).
At the end of each month, show them your account statement as proof of your savings.
Add stringent rules to the pact by allowing your family to charge you interest if you miss a savings date or don’t meet the amount set.