Saving can be one the hardest financial habits to start. However, there are steps that you can take to help improve this skill. Here are some tips on how you can start being a better saver.
HAVE GOALS IN MIND
While any saving is great, having concrete, specific goals in mind before you start will not only give you incentive to save, but will also allow you to better plan your budget and overall spending choices.
KEEP SEPARATE ACCOUNTS
If you have multiple savings goals, such as creating an emergency savings and having a vacation funds, having separate accounts will better help you track those numbers. It may also be helpful to have these accounts that aren’t attached to debit cards so you won’t spend your savings
One of the easiest ways to ensure money is going into your savings each paycheck is by automating your savings. By ‘paying yourself first’, you can ensure that you are working towards your savings goals.
Making these changes can definitely be tough. You may find yourself having to sacrifice things you want now for the sake of your future financial goals. Build some type of reward system into your savings plan. For example, every time you hit a savings milestone, you can reward yourself with something you love. The bigger the milestone, the bigger the reward. Just ensure this reward fits within your budget and won't undo your savings efforts.