Do you feel like you are always running out of cash? Now, don’t waste time and learn the top 10 ways to save money.
1. Start Today
Never wait until you make more money before you start saving. Making more money means more expenses. Take it into your heart, mind, and soul that you want to save and start right away.
2. Write Down All Your Goals
Writing your goals makes them seem more real, which increases your chance of actually achieving them. Try to be specific. For example, it is admirable to want to save for your future but it is a bit vague. However, writing down a pledge to save $3,000 for your Maldives vacation next summer will likely become a reality.
3. Start Small
Those small savings can add up and get bigger over time.
4. Have Your Bank or Boss Save on Your Behalf.
You can do it by taking money out of your paycheck for specific goals or retirement. This way, you can be sure that you wouldn’t forget to set aside some money for these purposes.
5. Deposit Your Paycheck to Your Savings Account
It will make you think twice before taking out any cash. However, be sure that you don’t go beyond the number of cash transfers allowed in the account.
6. Secure an Account for Every Goal
Whether it is for a new computer, car, vacation, or retirement, having separate accounts will make it easier to track the progress you made. It also works well for bigger recurring expenses like insurance premiums.
7. Deduct Credit Purchases from Your Checking Immediately
This way, you will not be surprised once the bill arrives.
8. Put Spare Change in a Glass Jar
Place this jar on top of your dresser and be amazed as you witness your money growing bigger by the day. For all you know, those occasional coins you get every now and then could be the key for you to have enough budget for holiday gifts this year.
9. Continue Writing the Check After Paying Off Your Credit Card Bill or Loan
Don’t stop even when you finished paying off your loan or credit card bill. Continue to write te check then send this to an investment or savings account.
10. Gift Yourself with an Instant Reward
Every time you managed to say no to that burger, toss your money into your cash jar. It will seem like less of a chore to save if you could readily see the fruits of your labor, so to speak.
After you have established the momentum, it will be easier for you to keep going and continue with your saving habit.
There are many people who shun from the idea of saving money because they find it too hard or even impossible. What they don’t know is that all it takes is discipline, perseverance, determination, and motivation to actually create a sizable savings that you can use for any goals or needs you might have in the future.