One fast trick to boost savings

How full is your piggy bank? If you’re like most Americans, probably not full enough.

When I posted a recent piece on Facebook about digging out from holiday debt, a reader commented, “How about not going into debt in the first place?” Good point. Ideally, we should be planning ahead and saving for things like Christmas or Hanukkah gifts, vacations and new appliances, rather than figuring out the financing on the fly (and often, incurring some debt in the process). But Americans are notoriously bad about saving, with the latest Bureau of Labor Statistics estimated we save about 4 cents of every dollar in discretionary funds.

One trick that could help you save more is to divide your savings into “buckets,” labeling each with a particular goal. That helps remind you of all the things you’re saving for, big and small, and can make you more reluctant to raid the accounts for impulse buys.

Read the full article about on CNBC.com for more on how to make this strategy work for you, and check out my video below for some tricks to come up with extra cash.