Saving money is hard. We all know that. It is so easy just to blow the paycheck – to spend money on things we don’t need, to eat out at restaurants way too often, to buy new clothes just because they are on sale, and to forget that a life filled with savings is a life filled with joy. But one of the most important steps to take to save money is the first step – and that is to start.
Saving: Simple Concept, Difficult Process
Saving money is a simple concept but a very difficult process. It takes a lot of work to get into a habit of saving money, and most of us have problems from time to time getting back in the saddle when our resolve has weakened. That’s why we’re here: to keep you on track, saving money even when it seems impossible.
Every day, Americans lose over $100 million in potential savings, and a large number of them end up in the hands of the wrong people. No, we’re not talking about your co-worker who just loves to spend money on the most trivial of items—we’re talking about credit card companies. The average person with a credit card has a balance of $4,876.17—not great. But how do credit card companies get away with charging such amounts? With most people not paying off their credit cards each month, credit card companies start to charge exorbitant interest rates. This leads to the average American’s credit card balance growing by $8.33 per month.
As most of us know, saving money can be difficult. There are a lot of things that want our cash, from the newest video game system to the latest, hottest handbag. Between paying for school, work, and bills, it’s easy to lose focus on your financial future. How do you get motivated to save money? A good way to stay on track is to create a plan for your money. You can start with a simple plan like saving for a car, house, or your dream vacation. As you become used to planning your spending, you can develop a more detailed plan to save for retirement or your children’s college education.
As it is today, saving money takes a lot of hard work, but it doesn’t have to be such a struggle. Saving money is not the same as being cheap, since you shouldn’t deprive yourself of luxuries. The key to saving money is to spend less than you make. Before thinking about saving money, consider your lifestyle. Do you earn enough to live comfortably and pay your bills? If yes, then you can begin to save money.
It is IMPORTANT, Indeed
Saving money is one of the most important things a person can do. It is a skill that everyone needs to be successful in life. There are many different ways to save money, from couponing to using coupons to once a month cooking. Coupons are a great way to save money because they are free and allow you to purchase something you would have bought anyway. Coupons should be used when a person is buying something they were already going to buy. Coupons are not used to purchase items that are not needed. Coupons are being used more and more these days, and there are a lot of different places to find them.
Saving money is a lot easier said than done, and very often, people find that it is easier to spend money than it is to save it. There are numerous reasons for this, but the main one has to do with the fact that money itself is so abstract. If you have $20 in your pocket, you know you can spend it on something, but there is no physical reminder of what you are sacrificing to have that money. Because of this, a lot of people tend to overspend on items they could easily do without, and the only way to see where your money is going is to write down or track your expenses. It might sound like a hassle, but it’s an integral part of saving money.
We all have to do it. But it can be hard to remember to do it. One way to make saving as easy as possible is to set it up so that your money is automatically taken out of your checking account and put into your savings account. Many banks and credit unions will allow you to set up an automatic transfer from your checking account into your savings account. It’s a painless way to save.