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Five ways to make yourself save more money

by , 28 October 2014

Saving doesn't come easy for most of us. When you're not making enough to live comfortably, you probably think that you can't afford to save. People who earn less have more trouble saving than others, although they could be saving each month, even if it's only a small amount.

How can you teach yourself to save more money each month? Here are five ways to get started.

1. Change your attitude towards saving
 
Most people think that saving money is an ordeal and that they simply can’t afford to save enough. It’s time to change your attitude towards saving. Acknowledge the fact that every amount counts, regardless of how small it is. Start saving right now even if you can only save a bit every week, instead of postponing saving for an undefined time in the future when you’ll be earning more. It all starts with your attitude.
 
2. Cut costs wherever you can and put that money into savings
 
If you look hard enough, you’ll find plenty of ways to save. Think of your daily lunch: by preparing your own sandwich or eating leftovers from dinner instead of eating out, you could save a lot of money each month. If you can put a small amount into savings each month, money that would have otherwise been spent, you are a winner.
 
3. Keep your distance from shopping malls and restaurants
 
One of the main reasons we spend so much money in the first place is the fact that we go out way too often. Avoid shopping malls where you will be tempted to spend money you can’t afford and don’t eat out every other day – this can have a devastating effect on your budget. Become more disciplined and calculated with your money and don’t give in so easily to temptation.
 
4. Automate your savings
 
Set up automatic withdrawals from your regular account into a separate savings account. This will simplify the saving process and force you to live within a certain budget and spend less than you were used to.
 
5. Stop making credit card purchases
 
One of the best ways to reduce spending and save more is to stop using your credit cards for regular purchases. If you can’t afford to buy something using cash or debit card, then you simply can’t afford to buy it. Also try to pay off existing balances on your credit cards.

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