Everyone wants to try to save money, and while your New Year’s resolution may have already been given up on, it is still not too late to start making savings in 2015. Trying to get out of debt, save money and stop throwing money away on random purchases can be very difficult to begin with, as is the case with breaking any kind of ingrained behavioural pattern, but it can be done and there are a number of simple tips that can be of great assistance when it comes to getting started and staying motivated.
Don’t Waste Time on Unrealistic Goals
One of the best tips is to forget about lofty and frankly unrealistic goals when it comes to saving money. To begin with at least, just try to do what you can to save a little bit of money each and every day. There is little point in trying to save hundreds of pounds per month if you are inevitably going to spend at least some, if not all, of it and the failure of such an unrealistic goal can de-motivate you on the whole notion. On the other hand, if you are able to purchase something you normally buy for just one or two pounds cheaper than the norm then pocket that extra money and ensure it goes into your savings account and remains unspent.
Make a Financial Spreadsheet
Another good tip is to start a spreadsheet that details your budget. Stop endlessly complaining that you do not understand where all of your hard earned money goes and create a spreadsheet that actually puts down all of your expenditure in comparison to your income in black and white. You have very little chance of actually being able to save any money if you do not have a budget.
Trying to save money by giving things up sounds like a good idea, but what if you actually really like these things? Giving up things that you enjoy and which make your life better is not the smartest way to stay motivated to save. A better idea is to simply try to find a way to do the things you enjoy in a more cost-effective manner. Use a cheaper coffee shop, buy the supermarket “home brand” items, go out once or twice a week instead of every night etc. Cutting things down without cutting them out entirely enables you to save money without feeling like a suffering martyr.