3 ways to freeze your savings plan

Delaying your savings plan can cause problems, so try these methods to help you begin saving.

10:35 01 June 2014

Saving money is not easy for many people. There are people becoming unemployed, or being only employed part time. There are higher living costs, and petrol costs. There are always very logical reasons why we sometimes convince ourselves that we just cannot save money. The danger is that, when we convince ourselves of this, it is difficult to improve circumstance and any crisis causes us to spiral into financial oblivion. Even if we save only a coin or two here and there, it is a far cry better than saving nothing at all. Here are a few unconventional ways to stick to a savings plan. 

 

• Reasons—your reasons for your savings dreams and plans are powerful. Perhaps it is for a family you have, or one you want. Perhaps you simply need to ensure you have money for a wardrobe, or vehicle repairs. Try putting up pictures or a list of your reasons where you’ll see them frequently. Force yourself to actually pay attention to these about once each month. Any time you wonder why you’re making a few little sacrifices, you will be able to remember your reasons. 

 

• Separate funds—it is much too easy to spend funds that you intended to save if you keep them in a main account. To maintain dedication to a savings plan, you should have a separate bank account, or even just a jar which is strictly for savings funds.

 

• Reminders—if you are concerned that you will forget to save, take time each month to write savings goals on the calendar for the days which coincide with your paydays. This will make it easier to keep track of, and if you set aside savings funds as soon as you receive your pay, you’ll be more successful and may not notice the difference.