I know you have heard it before so I will say it again! It's never too late to save and no amount is too small. To me, savings is live exercising and eating healthy. You know you should do it but it's difficult and where do you begin. I'm going to show you how saving a small amount does pay off using the Simple Savings Plan.

Start by savings $5 each week. No, $5 is not too small! You need to train your mind to not notice this amount. Set up an auto draft from you checking account to your savings account for $5 each week. If you think you may be tempted, set up a separate savings account with an online bank. Check out HSBC, Wells Fargo or Bank of America to set up an account.

After a year of not noticing $5 each week or $10 every other week being secretly moved out of your account, increase the amount by $5 each week or $10 if you are transferring every 2 weeks. If you think this is not enough, remember you are training your mind to not notice your savings. If you think this is not enough, you most likely have gotten a higher paying job, a raise at your current job or paid off debt during that year. If so, then savings this extra amount isn't too much.

At year three, you know the routine. Increase the amount by an additional $5. Now, you will saving $15 each week or $30 by weekly. Simple right!? By the end of year 3 you will have a total of $1,560. If you follow this Simple Savings Plan for the next 10 years, there will be about $14,300 in your savings account and thats not including interest.

This amount is nothing to retire on but its a great start!