Recently I have been raving about investing money, how to invest, what to invest in, but before you invest you kinda need some money on the side.
When I tell people so save, I get asked how, how do I save and continue saving? For many people if their savings are not growing, they do not see the point and if their savings are growing they don't let it grow, they keep dipping into it. If you google how to save money it shows how to cut costs rather than useful saving methods. The truth of the mater is that It all balls down to sticking to a/several saving technique(s) and a whole lot of discipline.
So here are 10 Easy ways to start grow your savings.
Please note this does not involve being tied to a chair and watching someone place the money out of your reach
1. Save Automatically:
Automate your savings, Clear as that, out of sight out of mind, let technology do the work.
2. Round Up Savings:
Keep your bank account at a round figure and stash the rest every time you see it Or keep your savings at a round figure. I.e the second you make a purchase that reduces your bank account to ₦ 897,634 move that ₦ 7634 to your savings.
3. Budget Savings:
Budget for everything and EVERY TIME you are under your budget transfer the rest to your savings.
4. Treat and Save:
Match the cost of your non-essential indulgences in savings. So, for example, if you splurge on bubble tea, put the same amount into your savings account. And think of it this way, if you can't afford to save the matching amount, you can't afford the treat either. #CustomsTax #BadPurchaseTax #SplurgeTax
5. Cutting-Habits Savings:
You've heard this, Swear jar, missed the gym jar, procrastinating jar, want to cut a habit or make a habit, might as well make money while you do it. you'll have a better life either through a fuller bank account or a more disciplined life #winwinwin
6. Do the 52-Week Challenge :
The 52-week challenge says that you put money each week into savings. The amount you stash matches the week of the year. For instance, in Week 1, you put £1 into savings, Week 2 gets £2 in savings, and so on.
7. Pay Cash :
Another way people grow their savings account is by paying cash for everything. Then, at the end of the day, they put change and $1 bills into a jar or savings fund.
8. Play the Grocery Bill Game :
When you go to the grocery store and buy sale items that fit into your food menu, bank the money you saved by buying on sale.For instance, if milk is regularly priced at £1.87 a gallon and it goes on sale for £1.50, buy the milk and note the 37 pennies you saved on a list. Tally the list each week and put the total into your savings account.
9. Save Unexpected or Extra Cash:
When you get a cash birthday gift, a raise, a tax refund, or any other windfall that’s outside of your regular pay-check, commit to putting it all into savings.
10. Goal Save:
By Far the most motivating of them all, technically you are not tricking yourself, but when you end up reaching your goal, you'll motivate yourself to do it again, this time aim higher, From that laptop to that trip to visit a friend, next it'll be that trip to Paris. Pace yourself and always aim to save higher than your last splurge.
Lets be honest, these will need discipline and you have to hold your self accountable, but 21 days to make a habit and 90 days to make a lifestyle.
Well these are tips that have been tried and tested, so give it a whirl grow your savings and get that financial high.
Have any easy ways to grow your savings?
Write them in our comment section below or drop them in the chat box at the bottom of your screen we are eager to hear from you..
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