Direct Deposit

• Perhaps the easiest way to save for investments is directly out of your paycheck. If you have access to a 401k plan, you can use payroll deduction to fund the account. You also can set up your direct deposit so that a portion of each paycheck goes to a money market or high-yield savings account. That makes saving money automatic and removes many of the impediments to investing consistently.
  
  

Monthly Transfer

• Transferring money directly from your bank account to your investment account accomplishes two very important goals. First, it forces you to save and invest by making the investment automatic. Second, that consistent investing helps to smooth out the ups and downs of the stock market, allowing your money to buy more shares when the market is down and fewer when it is at all-time highs. You can set up an automatic investment program with your favorite mutual fund company and start building your account that way.
  
  

Careful Budgeting

• One of the biggest impediments to investing is simply finding enough money to invest with. But if you develop a comprehensive monthly budget and watch your spending, you might be able to find hundreds of extra dollars. Once you have recaptured that previously lost money, you can redirect it to your investment account and start building for your future. As you become better at budgeting your money, you might be able to save even more.
  
  

Bank Raises and Bonuses

• Any time you get any extra money, either from a raise at work or a bonus, consider putting part of that windfall into your investment account. For instance, if you get a $500 bonus this year, take $250 of that money and put it directly into your favorite investment account. If you get a 3 or 4 percent raise in pay, use the opportunity to raise the amount you put into your 401k plan by 1 or 2 percent.