Krisanne Alcantara of AOL Real Estate wants to set aside 20 percent of every paycheck automatically in high interest online savings account. But her more challenging goal may be to curb her online shopping habit.
Here's what Jean had to say:
Step 1: To automatically deduct the 20 percent directly from your paycheck, you'll need to visit your company's HR department. This process is similar to the one you went through when you set up direct deposit to your checking account, says financial planner Stacy Francis, founder of SavvyLadies.com. "You'll need to give them the bank name, the bank address, routing number, and the savings account number," she says.
Step 2: Think about why you shop online in the first place. Do you visit Rue La La when you're bored? Sad? Angry? Maybe it's even simpler than that; maybe you shop because the emails you get from your favorite websites are too hard to resist. Unsubscribe! (That's what I did!). Then find another coping mechanism for emotions that lead you to shopping. Whether you pick running, yoga or kickboxing, chances are your new activity will be good for the wallet and the body.
Coming Thursday: A Photo Editor Hoping to Modify an Underwater Mortgage
Or, read the previous article in the series: Her Financial Goal: Win at the Refinancing Game