If you want to see big results in your savings, you have to give it time, hard work, and discipline – unless you win a lottery. And, achieving comfortable savings doesn’t necessarily mean you need to have a six-figure account – wise spending, discipline, and focus are just needed. Although, aiming for a six-figure income will make your savings bigger in a shorter period of time, but we will discuss that in another article. For now, here are tips to become a successful saver no matter how much your income is, big or small:
1. Have a Proactive Personality
Acting last minute for a financial emergency will just lead you to what seems like an endless pressure and worry. Start now. Start early. Be consistent. Don’t wait until you make more money. Earning just a little amount isn’t an excuse for you to not start saving at least a little percentage of it. Even just by starting small and being consistent can become a habit- which then makes it easier for you to save more of your money in time.
2. Prioritize Your Needs
Spend on your essentials first. Your desires and luxury can wait later. Learn to appreciate simple living and know that saving your money, instead of spending it on unnecessary things, can lead you to a much better life in the future. This is where your patience and resistance to temptation is tested. Work hard, spend on your needs, and spend money on things you love later on.
3. Why Are You Saving?
This is what you need to think and remind yourself of every time you are tempted to buy something unnecessary. Have a reason and make sure to write it down somewhere – then, work backward from there. Think how and what will it take for you to achieve this.
4. Understand Your Struggle
We come up with endless reasons why we aren’t able to save money. A lousy-paying job, debts with growing interests, a high cost of living, and many more. Determine what keeps you struggling, and from there you can come up with creative solutions that will help you deal with them. It’s not the end of the world for you and you still can go pass through your struggles. Just do your best, stop procrastinating, and start brainstorming for solutions.
5. Learn more and sharpen your money skills
The human mind can never stop evolving and growing. Learn more money management skills with finance references such as books, online articles, videos, or talk to professional financial advisors. Constant intake of ideas from other people can shape your thinking, change how you perceive money, and help you improve in terms of your saving skills.