Rebuilding an empty and broken savings account

Is your savings account empty and broken? Maybe you are one of the 49 percent of Americans who have no savings account or a zero balance in savings. Perhaps you depleted your savings for emergency car or home repairs. Here are some suggestions on how to get started on saving — for the first time or for the last time:

Review your budget with a plan.  Look at what you spend each month. Plenty of apps and software programs are available to make this easier for you. Then look at what you can cut. Sometimes these are simple choices, like those magazines that pile up around you. Eliminate those subscriptions! Sometimes the choice is harder, such as a decision to trim your extensive cable package.  Instead of reallocating all that extra money, put a portion aside in a savings account.

Have funds deposited directly into your savings account. If you don’t see it, you probably won’t miss it! You can start with even small amounts from your paycheck. You also could open a savings account at a different bank, maybe one that is out of the way of your normal routes. Anything that will make it a bit harder to easily spend the money.

Take on extra work or sell unused items. If you are able to take on a second or a part-time job, add that income to your savings account. If you aren’t able to take on more work, look around your house for unused items you can resell through a yard sale, on Craigslist or even on eBay. Before you know it, your savings account will be flush with cash.