If you have allowed yourself to think there is simply nothing left to save, there is no need to despair. The following are some tips to help even those who think they are cash strapped to pinch a little away for savings.

1) Pay yourself first. This has been said many times over but it is worth repeating as still it doesn’t come naturally to most people. We tend to think that everything is more important than putting aside a little for savings from each paycheck, but actually this should be viewed as the debt that we owe to ourselves. Setting up a system of automatic savings is probably worth the fee charged by the bank if you don’t have the discipline to do it yourself. Your employer may also be willing to send a part of your salary to a different account and in that way you can avoid the bank fee.

2) Beware of credit cards. Credit cards can be marvelous vehicles for short term financing with the added benefits of cash back features or other built-in rewards. However they can lead to a quagmire of great proportions if not properly managed. Always be aware of all the features of any card that you use, some give up to 45 days interest-free while others start accruing interest from the purchase date. Make no assumptions about your cards and if you are not confident in your ability to handle the payments do not use them. The only smart way to use a credit card is by paying off the balance before the interest starts accruing.

3) Don’t toss your spare change. Many of us have scant regard for coins and they are tossed in every corner of the house. If this change was all collected in one designated spot and then taken to the bank periodically you would in effect be adding to your balance money that would have become lost in the abyss of stuff that collects around the house. It is easy to see that earning interest at the bank is a much better than collecting lint in the creases of your sofa.

4) Prepare meals at home. Again, we all know that it is cheaper and healthier to take meals that are prepared at home and yet so few of us actually put this into practice. A little discipline and lifestyle adjustment where this is concerned could pay great dividends.

5) Do not impulse shop. If you are not able to control your spending leave your cards at home and walk around only with enough cash to get what you need to accomplish done. It can be difficult to resist that sale sign and the games we play on ourselves to lessen the feelings of guilt do nothing to compensate for the gaping hole in our targeted savings at the end of the month. If you cannot control your urge to splurge at least ensure that you are not fully loaded and leave those dangerous cards at home.

6) Comparison shop. You can do this easily on-line or if you like to actually walk around and feel things out yourself visit the stores, but under no circumstances should you buy the first thing you see. Always check around for a bargain. You will be surprised at how much a little research can save you.

Turning saving into a lifestyle takes time and constant effort. Do not be discouraged if you do not immediately meet your goals, but at the same time ensure that your goals are realistic for your overall budget constraints. Saving does not have to feel like punishment. As a matter of fact, as soon as you start tying your savings to specific goals it becomes very satisfying.


By: Natalia Jones

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