In a world where prices are rising, but wages tend to be staying the same, it can be difficult to curb your spending and save more. Whether you’re putting money away for a mortgage down payment on your first house, a brand new car, or a luxury vacation, saving money can be undoubtedly tough. However, there are likely many ways that you are spending too much without even realizing it! With TV and online ads constantly telling you just how much you need something, the urge to spend can often take over. Thankfully, you can get back in control with plenty of savvy tips and tricks to motivate yourself to save more.
Tip #1. Use Your Smartphone:
Our smartphones have become an essential part of our life; many of us don’t know what we’d do without one! But, your smartphone isn’t just good for making calls, sending emails and browsing your social media feed – there are many ways that you can utilize the power of mobile technology to help you save more money. For example, you can use apps that allow you to track your spending; some will even allow you to add a savings goal, so that you can see just how far away you are from being able to finally buy that house, car, vacation, or simply go on a shopping spree! You could even take it further by leaving yourself a motivational message on your smartphone wallpaper – create unique, customized phone wallpapers here.
Tip #2. Keep Money Out of Sight:
‘Out of sight, out of mind’, is definitely true when it comes to money. Have you noticed that you tend to spend more when you have the cash readily available in your wallet, as opposed to having to jump through hoops to access it from your bank account? When it comes to saving money, leaving the money in your main checking account can be very risky since it’s tempting to break into it when you want to spend, often with the promise of ‘I’ll repay it on payday’, which may or may not be upheld. To avoid this situation, set up a separate savings account for the money that you put away, without a debit card. If possible, you might even want to think about setting up an account with restricted access, making it harder for you to dip into those savings for something else. It’s also a good idea to set up a regular payment into your savings account on each payday; this way, it will be easier to budget on the lower amount.
Tip #3. Visualize Your Goals:
Saving money is great even if you don’t have a specific goal in mind, however, simply saving for the sake of it can be more difficult to keep up with, especially if you come across a purchase that you believe will justify breaking into your savings for. Instead, having a clear picture of your goals can help you to stay on track and encourage your savings to grow. There are many ways that you can do this, from using applications on your phone to pinning pictures on your fridge!
Share your own money-saving tips in the comments below!
