Pay yourself first.

With doom and gloom in the economic world these days, it’s getting harder to put away any kind of savings for yourself – what with gas and food prices.

I stumbled on a NAFCU lesson plan on “Paying Yourself First” (the PDF file is here), and it had some items to think about.

Do you use a check-cashing business? Do you pay for extras like cable TV? If you get a raise or a bonus, do you spend it as soon as you get it?

NAFCU is the legislative lobbying group that fights for credit unions on Capital Hill, but they also look our for credit union members, and their “Pay Yourself First” program is good for getting tips on how to save even a little extra each week.

Our tip? Set up a Christmas or Vacation Club , if your financial institution has them, and use automatic deposits to sock away even $5 or $10 a week. Chances are you won’t miss that little bit of money, and each year – when the account matures – you can just keep rolling over the savings. After a while, you’ll have quite a bit saved up. Make it automatic is important; you won’t even think about it after a while.

Do you pay yourself first? What strategies do you use?