Saving money is often looked at as one of two things. A way of life or an impossible task. It really depends on your needs, lifestyle, and earnings as well as your upbringing. And neither is wrong but looking at saving as a goal that takes work to achieve something greater can often help change your perspective. And it can be hard to find saving tips.
But I have been in a position where saving money seems impossible like there is no way! But I am here to help you find a way! And show you that it is possible! So here are 5 Saving tips:
Know why you want to save
“If you fail to plan, you plan to fail” – Benjamin Franklin
The saying is so true. And so, if you don’t know why you are saving, you will run out of steam and not reach your goal. So, sit down and work out why you want to save. As then there is a goal!
The biggest mistake I have made that has caused me to not reach my goals is to set too big of a target. Especially if you are starting from R0, start small. Like laughably small. Create the habit, and then increase it.
Know where you are going to keep the money
Do some research, speak to your advisor and know where you are going to put your money. Somewhere accessible enough to suit your goals. If you want a financial advisor check here!
We all like a reward for a job well done. And if you have been following this blog for a while you will see that this is something I am very for. If you work hard you deserve a reward! So, reward yourself with something small. Like a Bar One is my go-to!
If you are like me, and most other people, you will forget things. And when it comes to transferring money to your savings account, you will probably forget! So, set up automated transfers to ensure you save that money!
See, saving is possible. Even if you start at R10 a month. You can create habits that will help you grow your wealth over time. Remember that good things take time and effort, so you will need to be patient! But you can do it! Use these saving tips and you will be on your way!