Make Yourself Save

Saving money is indeed very very difficult. It is trivial whether you have a low paying job or make over a hundred thousand dollars a year. The matter of saving is indeed tricky. One tends to spend more as one earns more. This is why they say, “A dollar saved is a dollar earned?”

In order to build that nest egg for the future, one needs to start saving. Remember, it is never too late to start. The best time to start saving is now, if you haven’t started till this point of time.

One could be lost in a quagmire as to what to do, where to start. One could start in the area of household bills, borrowing, insurance, mortgages and property, banking, savings and investments, tax and pension provision. It is as simple as that.

Payoff your debt:

First things first. Get that monkey called debt off your back. Expensive debts such as credit cards can dig a deep hole in your pocket. If you cannot get rid of the debt completely, consolidating debt can save you money as it is a way of moving expensive debt on credit cards, say, to a different type of loan with a lower rate.

Save something somewhere:

Drops fill the ocean. Save something, howsoever minuscule. Make a small daily saving, put spare cash into a jar, take packed lunch to work, buy groceries over the internet, don’t take your mobile to vacation to avoid roaming charges. All this helps and all this adds up, amazingly.

Put windfalls to work:

If you have received a windfall by way of a lottery, tax refund, bonus, incentive, inheritance, do not think about it. It has to be saved. It is not apart of your regular income so you will not miss it anyways.

Take Aim – invest
The best way to invest is to get automated. Give a standing order, which puts payments straight into a pension, mortgage, stock market or a saving account.
Profit from your employer

If your employer offers you a share scheme you should seriously consider signing up. You could also choose to save an amount each month, deducted from your salary. If your employer puts money into the company pension scheme, contribute more than the minimum required.