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Here’s How You Can Start Saving More Today

When it comes to money, we all have the best of intentions. We tell ourselves that we’re going to create a plan one day or set up a savings account the next time we get a little pay bump. Unfortunately, actually following through on those promises is often easier said than done. 

The truth is that the best way to overcome the issues that you have with your cash and start making a real difference to your life is to begin budgeting. Once you stop procrastinating and start making an effort to track your spending habits, you’ll find that it’s much easier to pinpoint the areas in your life where you most need to make a change. 

Here’s How You Can Start Saving More Today

Here’s how to overcome the hurdles and start saving more today. 

Pick a Realistic Goal

While the ambition to simply have more money in your savings account is fine, it’s difficult to measure your progress towards that kind of target. You need something a bit more tangible if you’re going to keep yourself motivated. For instance, maybe you want to have at least $3,000 in your emergency savings – just in case. 

Once you have a number in mind, you can begin to figure out how you’re going to work towards it. If you only put $5 away a month, then it’s going to take a long time for you to accomplish anything. However, if you only have $5 that’s better than nothing. Think about what you can realistically accomplish, then set up a strategy to automatically put the money you’ve dedicated to your savings aside each month. Most banks can help you with this. If you don’t have to remember to actually contribute to your savings, you’ll find that your less likely to forget about them. 

Identify some Quick Wins

Not all budgeting is about giving up the things that you enjoy or compromising on what you can actually afford to buy. Sometimes, you’ll find that there are quick wins in your life that you can take advantage of that you didn’t consider before. For instance, maybe if you go through your bank statements, you’ll discover that you can save some money on your credit card bills by consolidating them with a new loan

Another option could be to compare the deals available from some of your service providers. You might be able to get a cheaper deal if you switch companies for your electricity, or your insurance bills. Going through your bank statements will give you an insight into some of the quickest ways that you can make a difference to your finances. 

Make One Big Change at a Time

When you’re keen to reach your financial goals, it’s tempting to try and rush things along. Maybe you’ll take a look at your bank statements and realize that not only do you spend way too much on take out food each month, but you’re also seriously overspending on your gaming habit and your clothes obsession too. Rather than trying to cut everything out at once, it’s better to focus on one issue at a time. Like trying to save money on your pet care

Start by cutting your number of takeout meals down from 3 a week to just 1. Once you’ve nailed that, you can start looking at how you’re going to reduce your clothes spending. Focusing on one issue at a time means that you’re less likely to feel overwhelmed by the changes that you’re making in your life. Budgeting should be a way to reduce your stress, not make you more miserable by forcing you to give up everything that you enjoy. 

Get Some Support

Finally, a lot of the challenge in budgeting comes from finding the willpower to keep pushing yourself when really, all you want to do is spend your cash on whatever you like. If you’ve struggled with budgeting up until now, then that could be a sign that you need a little extra help to make your new strategy work. 

You can consider downloading some apps that will help you with automated suggestions on where you can save based on where you spend your money each month. Alternatively, you can reach out to friends and family members and ask for their advice. Even if you don’t want tips and input from your loved ones, letting them know that you’re doing your best to budget could be a good idea. That way, they can be more understanding about your situation and give you a shoulder to cry on when times are tough. 

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