Getting in the right mindset for saving money

It can be difficult to cut back expenses and change lifestyles, but savings give us what we truly want.

05:22 09 January 2014

A great deal of savings dilemmas are because of what we perceive as a difference between what we really want and what we should do. Savings is not really about that at all, but is instead about making sure we have the things we need, and the things we want that are truly important.

Without proper savings, we do not have a comfortable retirement, a home, or perhaps even an education. If you sometimes struggle with setting aside money for savings, here are a few different tips that might help you get on track. 

 

• Prioritise—the most important thing that you can do when you are deciding to save money is to make a list of your priorities. Decide which things are most important to you and what you are saving for.  You may even want to keep that list tacked somewhere it can easily be seen as a reminder.

 

• Think temporary—while you may need to make a few sacrifices in order to reach your ultimate savings goal, remember that most of the time those sacrifices are temporary. You can also compromise with yourself about which perks you want to keep and which you can live without. This allows you to save while still giving you the sense that you have what you most want or need.

 

• Creativity and change—it is a good idea to try and step out of your routines. If you typically associate things with happiness, this may take some time. You might enlist the help of a friend and try less expensive alternatives like picnics, visiting a garden, or historical site.

 

• Smaller goals—when making lifestyle changes to save money, change one or two smaller things at a time. You will be more likely to stick to your savings plan if you do not attempt too many drastic changes.