No matter what are your earnings, saving money should always be a priority. Saving is also one of the few things you can control. In your work or in your business there are a variety of factors that are completely out of your hand. But in savings, everything depends on you. You can check on Life UpSwing to learn about advice and tips for earning extra money.
Some might say that saving money is easier when you have a big income. That is true but only partially. The thing is – if you do not save when you have $100, you will not save even when you have $1,000 or $10,000 per month.
Saving is something that has to become a part of your life. As most of us start from scratch in terms of our income, the topic of saving while on a tight budget is something that we all should know about.
In this post, we will be talking about something that is closely related to the whole process of saving.
Habit.
Or rather, power of habit.
What is the main element of saving money? It is consistency. If you will not be consistent about saving money, you will quickly lose all that you managed to carefully save.
So you have to learn to be consistent with your savings. How do you learn it? You have to form a habit.
Some sources say that habit is formed in 66 days, some sources say it is roughly half. In case it always starts with that first day. You first paycheck since the day you decided to be serious about your savings. It always starts with those few dollars on your account, accumulating each month.
Teach yourself to pay yourself first. Sure, nobody can escape bills and some unexpected expenses. But try as hard as possible to put some money aside for you and then spend it on everything else.
Maybe even open a separate account, so you do not have direct access to your savings. The longer is the route to withdraw them, the more probability there is that you will not use them for unnecessary things.
Whenever you feel that your willpower to save is getting weaker, or you are considering spending some of that money, use the following technique. Imagine the freedom you may have when you saved enough to live for 1 month, 3 months, 6 months or maybe even a year.
Being able to sustain yourself without full-time employment for even 6 months! What a feeling!
That feeling will give you confidence that will soon reflect in the way you work. You will be confident (because you can leave anytime) but still humble because you know how hard it is to save money.
So if there is one thing that you should take away from this post is – saving money is a habit that can be formed in a couple of months. It takes time and dedication. It may be very hard in the beginning. But after that habit is formed you are set for life!
Start today!
