How to start saving successfully?
Lots of us are disturbed by this particular question while waiting for the best moment to commence the saving adventure.
The decision doesn’t seem to be easy, as it is directly connected with lifestyle choices.
Making the long story short, saving money means cutting down your expenses or giving up the ones that are not necessary. But first things first – before you start, remember to pay off your debts.
Separate your wallets
Keeping savings in the same wallet or bank account you use daily simply doesn’t work! You probably won’t even notice when they disappear. Put your savings away in some safe place with limited access. It’ll make it harder to reach for them.
Set a reasonable goal
M like motivation. Researches prove that setting a specific target makes us motivated to regular saving. How does it work? It’s quite a simple mechanism. Whether it is a dream journey, the course, your first boda or beautiful kitenge – thinking about it will motivate you to put money aside. It’ll be a natural reminder to stay focused on your goal. And what’s next…?
Train your brain in saving
Bear in mind that your final goal is just a tool helping you to create a precious mechanism in your brain. In time, you will develop a habit of saving. Without a doubt, this skill can help you to deal with emergency situations in your life, as it’s not only about realizing your dreams but muddling through unforeseen expenses as well.
A patient man will eat ripe fruit
Save money little by little.
Regular accumulation will reward you in the future. Try with KSh500 monthly for the beginning.
Seems impossible? Imagine that 3 years you will collect KSh18,000!
And what if you allocate your shillings into a saving account?;)
Let it grow
Your resources don’t have to lie hidden under the bed. Let them rise for you. Spend some time on research and choose the best account that suits your needs. You may find some useful hints here: https://www.tuko.co.ke/282130-best-fixed-deposit-rates-kenya.html#282130
Take every opportunity to increase your savings and cut off the unnecessary spending. Give up paid television and spend some time with your friends and family. You’ll save some extra money and benefit from meeting your close ones.
Prepare for unexpected – create lists
List of expenses, list of shoppings, list of things to do, list of wedding guests, list of movies to watch… There are numbers of them, generated sometimes subconsciously…
Although they might seem oldfashioned, it’s hard to overestimate them, as checklists help in reducing unnecessary expenses. You may find this technique useful as well, as, according to Dominique Loreau in her book “L’art. Des listes”, creating lists improves your memory and is irreplaceable in planning your budget.
Taste Of Luxury Today Or Financial Safety Tomorrow? Spending Or Saving?
Oh, this is a tough decision! And no one will make it for you. Are you a hedonist and fancy enjoying life here and now? Or maybe you look ahead into the future and try to secure it for you and your family? No matter which option you choose, it’s good to analyze alternatives.
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