Saving is not all about preserving money somewhere, it’s about cutting down things that would make you spend more money. And I bet no one has ever told you that before.
You know what saving is but there is definitely something no one has told you that I have to tell you. You definitely know that saving is the process of keeping a potion of your income in case of an emergency or for use later or just to accumulate wealth. And you definitely pay up your bills and settle every important need before saving whatever is left, and most times you have very little or nothing left.
Don’t feel discouraged, most people go through that, the good news is that I have a list of what you most definitely don’t know about saving and will help you safe better, and they are:

1. Save first
The first thing to do when you receive your income is put out a percentage you have decided to save. It could be 15 or 20% of your income even more if possible. And it should be in a separate account. But you must be consistent about it every month and don’t cut down the percentage you start with only increase it.

2. Draft your budget plan
Prepare your budget for the month before you start spending, each in order of importance. Start with the most important things and only put what is necessary in your budget.

3. Pay your bills
As soon as you receive your income settle all your necessary bills, from utility to rent. Remember I said saving is not only preserving money so do not spend so much on bills, minimize as much as you can, if you pay rent, never stay in a house that your two month income can’t cover.

4. Don’t go for cheap, go for quality
Whatever it might be, cloths, furniture, shoes, whatever you need to spend money on, don’t buy cheap products that lack quality, only buy quality goods because when you buy cheap less quality goods they tend to wear out and therefore bringing the need to purchase them yet again. To save you have to buy quality products even if they are expensive, believe me when I say it will save you extra cash.

5. Track your spending
If you are spending more than you earn or you save only 5% of your income then you need to track where your money is going and start cutting cost.

6. Separate your needs from your wants
Learn to know what you really need from what you just want so you don’t spend money satisfying your wants and ignoring your needs. For example you might want to eat out many occasions and you might feel you need it because you are too busy to prepare a meal at home. Separate what you really need from your want and get a plan that works for you.

7. Unsubscribe
Unsubscribe from any website that is not necessary and only makes you extravagant, either it’s that clothing line website, or whatever, unsubscribe to avoid been tempted to shop when not necessary each time you receive a notification.

8. Four bank accounts is a goal
There is nothing wrong with having multiple accounts if you know what you are doing. I suggest four for:
i.  Retirement account
ii.  Saving account
iii.  Emergency account
iv.  General account
It is important to separate this account so you would be sensitive about your saving and spending, because spending is saving. Ensure you don’t have easy access to withdraw from your savings account and you don’t have any access at all to withdraw from your retirement account. For your savings account, I suggest you don’t have a credit card so when you consider the stress involved in getting access to that account you will not access it when not necessary.

Remember that spending is saving, so save as you spend.

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