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Saving For Better Tomorrow: 10 Things You Must Know

Savings doesn’t happen easily but it is a gradual process and discipline that needs to be followed obediently in the beginning. Later, it becomes a habit and reaps the fruit when needed the most.

Here are 10 ways to get to started towards your goal of savings;

Set Saving Goals

Make saving goals


You cannot start saving without the end goal and be aimless. So, always start saving with a goal in the mind as it helps you to keep working towards it.

Save With Friends

Get friends for savings

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Saving alone becomes a tough task, so it is a great idea to do it with people with the same saving motto. Start a WhatsApp chat group and keep sharing ideas daily to keep each other motivated.

Little At A Time

Save a little in beginning


Putting aside a big amount can seem too much. You can begin with putting some 100 bucks in the savings account, 50 odd bucks in your piggy bank (still makes for a great method) or cloth drawer with a jar. Soon, the money starts to accumulate without financially crippling yourself.

Treat Yourself

Treat yourself to stay motivated


Never deprive yourself of treats and allow a weekly splurge to stay motivated. Compile a list of cheap treats to indulge so that you keep moving towards the greater prize.

Focus On A Different Angle

Think with a different perspective


Savings can pull you farther from the daily mode of stress-busting like cable TV or Netflix. But change the perspective and think how this time can be utilized exercising, reading or spending time with family.

Challenge Yourself

Challenge yourself to save


Resolutions are not just for summer and New Years. You can always create a challenge for yourself during the festive season to save while shopping, saving electricity during summer or heating bills in winter.

Keep It Aside

Keep money on the side


Make sure you set up an auto debit to your other account where you gather money as an emergency fund or use it for investment in variable plans. The money that needs to be invested should be separated from the monthly expenditure.

Plan Something Cheap

Plan a budget vacation

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Why spend on a vacation at a distant island where you will end up paying more than you can guilt about. Travel and explore places close to you, where you can reach on a drive or domestic flights. You will end up saving thousands.

DIY Lunch

Make your own lunch

Pexels/Eneida Nieves

Everyday saving helps you build a stronger piggy bank. If you buy your lunch every day, then know that you are paying two times the amount at which you could have packed your own lunch. These small ways help you save significantly for the future.

Snack Money

Account your snack money


You should know for sure how much you spend on snacks weekly. This way you can allot a certain amount for every week, with exceptions like birthdays. Still, saving enough in next week to compensate for the money spent.

Maybe everything seems too much, but being determined today can reward you in future.

[The views and opinions expressed in this article are those of the authors and do not necessarily reflect the views and/or the official policy of the website. ]

Aabha Singh finds time from her hectic editorial schedule to write finance articles.

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