As a young adult, it can often be difficult to begin the process of saving. However, there is no better time to start saving than when you’re young!

While it may seem daunting, the banking process is very easy once you get started. Best of all, there are incentives out there that actually give you money.

Where you put your money makes a bigger difference to the economy at large than you may realize.

Think about it like this: the more customers that a bank has, the more money they have on hand to operate and invest with. The more money they control, the more influence the bank has in the industry and the economy. The more influence they have, the more power they have to affect policy changes and costs to consumers. In the wake of the recession many people aren’t too happy with the way big banks have been running things. That’s where the Move Your Money movement comes in. Here’s what you should know.

As Time Magazine points out in this week’s issue, women have had a huge impact on the economy and our buying power has grown greater than it’s ever been before. However, we’re also bombarded by more things to buy with that money than ever before.

In actuality it doesn’t matter if you’re a guy or girl. The problem of overwhelming product selection for everything from brand names to generics has been stalled a bit by the recession, but it’s still a problem. During the “Don’t Go Over in October” challenge I’ve been able to curb my spending by simply not putting myself in a situation where I’ll be spending. But when it came time to buy birthday presents last week, I wasn’t sure if I’d get through it without a becoming victim to an impulsive buy or two.

My month long sabbatical from spending (at least for the most part) is giving me the opportunity to really reflect on the issues revolving around expenses and saving. This week we’ll examine a significant outside force: your friends. 

When our friends over at Ms. Career Girl told us they were hosting a spending challenge in October we figured it was an opportunity we couldn’t pass up. Of course I was tapped as DFU’s financially frugal guinea pig. Throughout the month I’ll be sharing my saving experience here on the blog.