I have never been good at saving money when I have them on my bank account. And saving has always been a big struggle for me. Everything got a little easier once I grew up and started to make my own money, but it’s still a struggle at times. Especially now, when I don’t have work, and my bills are the same, and the money I get aren’t too much. However, I make it work, with a few different things.
First off I have to say: I am NOT an expert, I can only do what works for me, and even if I do them, I still struggle from time to time.
1. Be aware of what your monthly income is, and your monthly bills. Then you know how much money you have left, and then you can start to plan from there.
2. If you want to have more money left in the end of the month, start to think of places to save from. Can you cut down on things you buy, clothing, food, etc. and see if there are places you can use less in. Also, go through subscriptions you have, are there things you pay for that you do not use? If there are, maybe cut it out, if you don’t use it there is a small change you are going to miss it.
3. Choose if you over all want to only save money for a certain thing, just save money over all or both. I can say that I do both, and I have those two savings separately. And after you have chosen that, how much money do you want to save every single month. And then choose when to put it over somewhere else, this is mostly up to you. Save the money once you get the money, or at the end of the month, both has it positives and negatives. Let’s talk about some of it before we move on.
Save the money once you get paid. A positive is that you know that the money you want to save gets saved, because you set them over before you starting to use anything. A negative is that you might have to put something back if there are a unexpected bills.
Save the money before you get the next paycheck. A positive is that you know that all the bills are paid and you can put all the money you have left, or some of it into the savings account. A negative is that you might have used more money than you anticipated, because the money was there.
4a. For saving money over all I think the easiest thing is a savings account. I have one, and I put the money I have left into that account at the end of the month, and I know that I use more money that I am supposed to, and therefore there aren’t too much money, but I try and put a little bit in there, in case there are some unexpected bills that I haven’t thought of.
4b. For saving for a specific thing and only that, the same thing apply as over. Savings account, so you get the money you need, and then when you have saved enough you can buy whatever you had in mind.
4c. For saving for both. I would not recommend having the same savings account for both. Why not? Because then, when you have the money on that account and use it you no longer have anything in your savings account. I have a savings account and then something else that I put money into to save for a specific thing. I don’t think the app I’m using is available outside of Norway, however I will tell you the app I’m using, and then maybe you have something similar where you live. I use an app called Dreams, and I love it! In this app you make a dream, put in the amount of money you need to accomplish this dream, and then you have so many savings options. You can have as many or as few dreams as you like, and then you choose how much you want to save in each dream.
5. Never give up. In the beginning saving money can be difficult. However, try again and again, and eventually you will become better.
Here are just a few on my tips. I would love to hear your tips too!