General tips on saving money

I failed many times to save money because I assumed that it just happens. I didn’t set up a budget nor did I track my expenses. I am not sure what really stopped me, but maybe I was put off by having to realise how much money I am spending. And I really didnt want to know! Maybe I didn’t want to put any effort and time into it, and with this kind of attitude it is no wonder I never succeeded until now. Setting up a budget and tracking my expenses are key for me in saving money.

Saving money is not easy especially if you are not used to it. However because of the many benefits of saving money and the risks of not doing it everyone has to learn practising it.

There are ways to simplify things:

Start slowly
Don’t change your life style from one day to the other- you likely to give up soon this way. Don’t limit yourself too much but start slowly and make minor changes such as switching to another brand for example.

Pay by cash
Get into the habit of paying by cash. It is harder to spent cash rather than paying by you credit or debit card. You are also less likely to overspend when paying by cash.

Save your change
This is a very easy and painless way to save your money. At the end of the day or week, which ever you prefer, put the coins out of your pockets and wallet or purse into a jar and take it to your bank.



Save each day a bit
Try to be consistent and save each day a little bit. It will not seem much in the beginning, but it will add up.


Have a budget
As mentioned before, having a budget is key to succeed when it comes to saving. A budget is simply a device showing you where your money is going. Budgeting helps you to keep track of your expenses. It is even better to create a minimum and a maximum budget limit. You will not restrict yourself too much this way.

Stop impulse buying
This is easier to say than to practise. However you should really stop impulse buying and stick to your budget. We need to learn the difference between a need and a want.

Think of saving money as you would think of a successful diet. It is one which is not too restrictive but allows to enjoy a nice treat occasionally while still achieving the set goal. That is the beauty of budgeting, you can save but still enjoy little treats now and then.

In order for you to succeed in saving you need to stay determined and persistent while being disciplined. At the end of the day it is your money and you should try to keep of it as much as possible.
Live below your means