We’re sure the first question that came to your mind was; how does one save money in this present economy? Trust us, we get it. Setting money aside to do certain things can be quite hard, especially in this harsh financial clime. There are several goals to accomplish and it appears that earnings aren’t quite enough for them. But we also think that the alternative to not having any savings could be more devastating.
More so, social media has added new expectations to your reality so saving is usually the last thing on your mind after earning. But some things need to be bought. Some goals need to achieved. There’s a new car to be bought, a new gadget, a better kitchen outlet, and so on. While it may seem impossible to achieve, there are solid ways to work around saving.
The two best ways to save money are:
Be Realistic
Often when saving is mentioned, your mind may travel to setting a huge chunk of your earnings aside, but being realistic requires you to do the opposite. Being realistic means understanding yourself and what can sustain you while you save. For example, if you’re saving for a new gadget monthly, you have to be realistic about how much you spend on food and other necessities for a month. Do not lessen the amount for food in an attempt to be frugal. What would usually later happen is that you may dip into the savings for food.
Also, being realistic means understanding that your current earning may not be enough to save up for what you want. You may have to add other gigs to what you currently do or invest in some projects for a long-term return. How then do you ensure this all falls in place? That’s where discipline comes in.
Be Disciplined
Disciplining yourself means overlooking temptation. Do not dip into gadget savings to buy a new shoe. If you need a new shoe, you save for that separately. Also, with the advent of many savings apps, discipline is easier. For example, Piggyvest autosave takes your money regularly according to what you set, and doesn’t allow you withdraw it until a certain date. Place features like this on your earnings and in no time, you can save expediently.
In addition, discipline also means understanding that you could be quite inconvenienced for a period of time. The luxury you’re used to may have to lessen for a while. The quickly you adapt to it, the better you’re able to save.
This article was written by Sola Tales