Starting Saving Today
Most people will at some point in their lives develop a desire (if not a need) to save. While often intimidated by whatever the goal may be, the truth is that every one has to start somewhere. This article will overview some of the best tips and tricks for saving, even when it seems like there’s absolutely no money to be saved.
Savings goals frequently get us excited, working to achieve them as quickly as possible, which is a good thing. The pitfall here is that when we are overly ambitious, we run the risk of being unrealistic, and of ending up failing our goals (which often just drives us onto an even more unhelpful spending binge).
The solution here is to take your time, be practical in your timelines for your saving goals. Aim for a sustainable method of saving, putting away some each and every pay check instead of trying frantically to put away the entire paycheck.
Automate your bills
Automating bills is a great way to avoid late fees. If you’re absolutely not comfortable automating, set reminders, on your phone and in your calendar, to ensure that you’re paying your bills on time. This helps avoid late fees, but it also builds your credit rating, something which goes hand in hand with healthy saving goals.
Be aware, be smart
There is something to be said for cutting back. The less you spend on luxuries, the more you have to save. That being said, some frivolities are really important to us, and maybe for you that $1.50 cup of coffee is it.
Be aware of not only your expenses, but your indispensable luxuries, and allow yourself one or two to avoid unhealthy spending binges. The key here is awareness, awareness which often lends itself nicely to cutting back.
Use your judgement
There are times when the luxuries will be worth it, and there are times when they aren’t. Use your judgement – are you spending wisely? Are you saving as much as you could be?
So long as you can look at yourself at the end of the day and report stability and contentment, you are saving appropriately for yourself. If you’re not, don’t panic, just alter the habits you need to to try again.
Every one has to start saving some where. Chances are you’ll dash your accounts back to zero before you allow them to climb as high as you want, so be aware that there will be mistakes – and learn from them! So long as you’re working towards a goal and being mindful of what you’re doing to help or hinder yourself in getting there, you’ll be learning (a valuable experience any day of the week).