So, with both dieting and saving, you’re essentially trying to deny yourself something in today, to enjoy life more in the future!
Here are a few diet rules that you can apply to money and saving…
Rule number #1: You can't get anywhere if you don't know what you want to achieve
If you want to achieve anything, you need to clearly define it instead of muddling along or cutting corners.
All diets begin with a goal. This might be losing a number of kilos every month or reaching your perfect weight.
The same is true with money. You need to know where you want to go, what you want to save for, or your savings account won't fill up...
To solve your problem, set yourself a monthly aim of shedding bills or unnecessary expenses like nights out every weekend. Save this money toward a specific goal. Things like paying off your car or home earlier or even just so you can go on a holiday WITHOUT using your credit cards.
Having a predetermined goal and a way to get to it is a great way to stay motivated and monitor your progress when the going gets tough.
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Rule number #2: Just like dieting, write it down and stick it on the fridge!
When dieting, it’s a good idea to write down what you eat to check if you’re eating the right kind of food and to ensure you’re not overeating.
When it comes to money saving, you should also write down what you spend so as to avoid over spending.
This is called 'budgeting'. Make a list of your expenses and make sure they stay less than your income. By making a list of expenses it's also much easier to identify areas where you are spending unnecessarily. This can be likened to 'snacking' when you diet…
Keeping an eye on your list will make it easier to keep track of what you really need to spend money on, and it'll ensure you avoid those small unnecessary expenses that don't add anything to your life.
Rule number 3#: Make it a habit, make it automatic
The power of habits is strong; once you do something regularly it becomes second nature.
When dieting, keeping at it every day, every month makes it possible to achieve your goals.
And saving is not any different. If you get in the habit of putting away some money every month, you’ll eventually get used to it.
The best way to do routine savings is to make your monthly savings into automatic payments.
So every month you have a set debit order going straight to your savings account, this way you won’t get tempted to skip the payment and it becomes a lot easier to save money.
Within a couple of months you won't even realise this monthly debit order is going off your account… And before you know it you'll have healthy savings account built up…
Follow these dieting rules to make sure your savings stay on track.