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Do you want to save more?  I’m sure the answer is yes.  I think we can all tug at the purse strings and put a little more money aside.  I’m sure we don’t think we can afford it, but with some discipline and a little bit of dedication we can all make saving easier.

Here are four ways to help you start saving more today:

Set realistic goals

Saving is so much easier when you have something to work towards.  If you’re setting a portion (hopefully at least 10%) of your paycheck aside ask yourself why?  Maybe you’re doing it just because you know you should or maybe you’re doing it for a specific reason.

Setting goals is a great start towards living the life you want, but setting realistic goals is much better and will increase your chances of success.  It’s a good idea to research the cost of what you want to buy and start saving early so you can watch your money grow with compound interest.

Fit saving into your regular habits

Savings don’t happen magically, you need to make a conscious effort to put money aside each and every month.  Automatic transfers are the way to go if you want to ensure you save consistently over time.

Set up transfers from your checking to your short term and long term savings accounts (yes it’s a good idea to have different accounts for different goals) that coincide with your pay frequency.  That way the money will be gone before you wake up and you won’t miss it.

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Don’t stop during tough times

Saving money is like working out.  It’s easy to build momentum once you see results, but it’s hard to get restarted once you stop.  If you have a financial emergency and don’t have the room to put aside your regular savings one month it’s O.K. to lower the amount, but don’t stop your savings all together.  Even saving 1% of your paycheck is better than saving nothing.

Make savings affordable

In addition to your food, transportation and housing costs savings should also be put into your budget.  There’s no point in saving regularly if it’s more than you can afford and you end up using credit cards to make ends meet until your next payday.

It’s better to save modestly and invest wisely rather than be too aggressive and have to cash out your savings to pay off debt.  Save regularly and save what you can afford – that’s how you’ll set and achieve your realistic goals.

If you already save and want to start investing download our one sheet which includes the 9 steps you will need to get started in the stock market.





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