Ben Franklin said it best, “A penny saved is a penny earned.” But what do most of us care about pennies in today’s world. Many people won’t even bother to stop and pick up a penny; even the government talks often about abolishing them altogether. Maybe that is what is wrong with our thinking in the modern world – we tend to try to think too big. Perhaps we should look to the lessons of the past to help us to plan for the future. Another folk hero of old, the tortoise, was praised not because he was the fastest, but because his slow, steady pace got him where he needed to be in good time. Three things no one will tell you about saving money are that it takes time, you don’t need any special help, and it is an attainable goal if you are willing to work for it. It just requires patience.
Let’s look at each of them closer. Though some of them may seem too obvious to you, it’s never late to remind yourself about them. The modern world is full of temptations, and we all understand that life is too expensive today if you want to get everything you need for happy living. Sure, money is not the most important thing in our life, but our life is impossible to imagine without money, isn’t Saving money can help you get what you want much faster.
You don’t need a professional
Patience isn’t something modern people have a lot of on a daily basis. Our grandparents often saved for months or even years to be able to purchase expensive items; now people buy on credit and often wind up in desperate financial trouble. Although it is true that simple savings accounts pay relatively small amounts of interest, they are secure, easy, and readily available. You don’t need an investment portfolio to save money; all you need is a plan.
Saving can be easy
There are several ways to begin to make regular saving a part of your routine. First of all, avoid buying things on credit. The less debt you incur, the more money you will have available to you every pay day. Also, make a decision to save. Even if you only set aside a few dollars every week, commit to doing that, or if your employer has a set-aside plan then use it.
Setting a weekly or monthly budget will help you to keep track of where your money is going. If you are paid a set salary, it is easy to plan within that budget. Even if your pay varies from check to check, you can still determine an average and set your budget within that range. Then, if you have an unexpected bonus or extra money you can save it. Make it a habit of putting those unexpected windfalls away.
Sometimes little tricks can work well; for example, try to pay in cash and then putting the change aside. These little bits will add up over time. Have a goal in mind. When you have a specific item in mind, it is easier to save up money to get it. Instead of buying on time or credit, avoid the interest and financial charges by saving up for it.
Finally, give yourself a time schedule and watch your savings add up. For example, perhaps by next summer you want to be able to afford to take a cruise for your vacation. Find out what it will cost and how much you will have to save each week to achieve your goal. Saving is easier when there is a tangible reward waiting for you. By the time you have achieved your first long-term goal, saving will be a habit.
Share your opinions about more saving money tips below in the comment box!