Saving money isn’t easy.
It’s hard to put away money when you’re living paycheck-to-paycheck, and it’s even harder when you don’t know what kind of emergencies might come up or how much money you’ll need in retirement. However, there are steps that anyone can take to start saving more today—and they don’t involve any significant lifestyle changes. But you must make a commitment to saving!
People want to save, but don’t
It’s a common refrain: “I wish I could save more money.” But when it comes down to it, many people find themselves unable to commit their funds and time toward saving. Why is this? The reasons are varied, but they all stem from one core idea: fear of the future.
People fear what might happen if they stop spending money on today–they worry about what would happen if their car broke down or their house needed repairs; they fret over whether their kids will go off to college without having enough saved up; they imagine themselves getting sick without adequate health insurance coverage. This anxiety often leads people away from putting money into savings accounts or other types of long-term investments because they believe that any funds put away now should be used as soon as possible (in case something happens).
Are you you’re worried about the future?
You might be thinking: “What if I lose my job? Or my partner dies?” These are valid concerns, but they can make it hard to save for an emergency fund or retirement account.
That’s why it’s important not to let your fears get in the way of building up a nest egg–you’ll never know what tomorrow will bring!
People can’t predict what they’ll need in the future.
Another common problem is that people can’t predict what they’ll actually need in the future.
- People are bad at predicting their future needs. For example, when asked how much they’ll need to pay for retirement, most people tend to overestimate how much money they’ll have available.
- People are also bad at predicting their future income and expenses: surveys show that most people think they’ll make more money than what’s realistic for them over time, while underestimating how much it costs them to maintain their lifestyles–or find themselves with more debt than expected due to unexpected expenses like car repairs or medical bills (or even student loans).
People don’t have a good understanding about risk tolerance.
It’s important to know your risk tolerance and save accordingly.
For example, if you’re afraid of being unemployed, but are also okay with it happening every once in a while, then perhaps you don’t need to put away as much money as someone who is terrified of being jobless.
On the other hand, if you’re concerned about having enough money saved up for retirement (or whatever), then that’s another story: You may want to consider putting more aside than the average person does just because it’s such an important goal for most people.
Stop telling yourself it’s impossible and guilt-tripping yourself.
- Stop telling yourself it’s impossible.
- Stop telling yourself you’re a bad person for not saving.
- Stop telling yourself you’re a failure for not saving.
- Stop telling yourself that you’ll never be able to save, so why even try?
Are you really committed to saving?
- Can you stick to a plan and make sacrifices in order to save money?
- Do you have the right mindset when it comes to saving money?
If the answer is no, then there’s no point in even trying yet! You need to train your brain to believe that the future is just as important as today.
You can always find an excuse.
But it’s a lot easier to make excuses than it is to save money. You can always find an excuse not to save:
- It’s too hard.
- I need this thing now.
- I’ll do it next month/year/decade, when my circumstances change for the better (they won’t).
Excuses are a distraction from what matters most: changing your habits so that saving becomes automatic and easy!
The process of saving is more important than the result.
In other words, if you focus on saving and make it part of your daily routine, then eventually you’ll have enough money saved up to live on. The same goes for earning money–you can’t just expect yourself to get a job with a high salary right away; instead, focus on finding ways that will help earn more in the future (and don’t worry about how much). And lastly, don’t worry about how much you spend: if something makes sense financially and emotionally then buy it!
Figuring out how to get your financial house in order is hard, but you can do it!
Saving money is hard.
But you can do it!
If you’re reading this, then I’m assuming that saving is important to you. That’s great! I’m glad that saving money has become a priority in your life. But now comes the hard part: figuring out how exactly we’re going to get our financial house in order and start saving more of our earnings so that they can grow into something useful later on down the road (like retirement). This process isn’t easy, but if done right, it’ll pay off big time for years and years into our futures when we no longer have full-time jobs making us money each month but still need some kind of income stream coming through every month just so our bills get paid on time.
Here is a list of 10 ways to save money that won’t drive you crazy!
- Make coffee at home: Get into a habit of “making at home”. Treat yourself occasionally but not daily!
- Cancel subscriptions you don’t use: If you have subscriptions to services you rarely use, cancel them to save money. This includes things like gym memberships, magazines, and streaming services. Seriously, cancel them!
- Buy generic: When shopping for groceries or household items, opt for generic or store-brand items instead of name-brand products. They are often cheaper, can save you money over time and TASTE THE SAME!
- Shop with a list: Make a shopping list before going to the grocery store to avoid impulse purchases. This really works, I SWEAR!
- Use cash instead of credit: IT’S A LOT HARDER TO SPEND CASH THAN CREDIT!
- Eat leftovers: Instead of letting leftover food go to waste, use it for another meal. This can save you money on groceries and reduce food waste. NO BRAINER!
- Use energy-efficient light bulbs: Switching to energy-efficient light bulbs. You will see the saving in your energy bill.
- Use a programmable thermostat: Setting your thermostat to automatically adjust the temperature will control the temperature in your house.
- DIY instead of hiring someone: If you have a DIY project you can handle on your own, do it instead of hiring someone. YOUTUBE HAS MANY MANY MANY VIDEOS!
- Comparison shop: Before making a purchase, compare prices from different retailers to make sure you’re getting the best deal. Open multiple tabs on your browser!
You can do it!
If you’re feeling overwhelmed by the idea of saving more money, don’t worry! It can be overwhelming at first. But once you get started and start seeing results, it becomes much easier to keep going. The best thing about saving is that even a little bit will go a long way when put into practice over time. Remember: if you want to save more money than what’s currently budgeted for this goal (or any other), all it takes is adjusting some numbers around until everything balances out again–there’s no need for extra income unless there really isn’t enough coming in already!
