If you are anything like many in our society, we like to spend our money. We get paid or take a quick look in our bank account and think we have more money to spend than we do. We then spend it unnecessarily yet regret it afterwards because we have nothing to show for it.  I think many have been in this situation; some have learned and changed their routines while others still live with this dangerous habitude. It is important to realize that cash comes and goes but even more important to realize it is a lot easier, not to mention quicker to spend money than it is to earn it.  Practicing simple habits to accumulate cash may help you keep on track.

  1. Open a savings account

Opening up a savings account may be one of the simplest ways to save money as long as you don’t have readily access to it. There are so many different savings plans to choose from and the place to start is consulting your bank to find the one that is right for you. Even if you are not putting millions into your savings account, five dollars a week can accumulate into something substantial. In fact, five dollars a week sums up to a few hundred dollars in year. It is important to remember that this is a long term commitment and a new lifestyle. Start with a small amount and with time it will be easier to save.

  1. Make a budget

Research has shown that you have a better chance sticking to your monetary goals if put it in writing. Keeping your goals clear where you can see them on a regular basis will help you remember what you want to reach. Make a realistic budget according to the sum of money coming in and taking into account the amount that needs to be spent on your bills as well as living expenses. Do not forget to set some money aside for your newly found savings account, the more you can afford to put in the better it will be for you in the long run.

  1. Automatically transfer to your savings account

Once your budget is in order go to your bank and request an automatic transfer to your savings account. This way, every time your paycheck arrives into your account you do not have the chance to spend it before it can get put away for a better purpose.

  1. Have a savings partner

We’ve all heard of a gym buddy and many of us have had one.  A savings buddy is essentially the same idea. It is someone who is also interested in saving or someone who is money wise that you can have saving-oriented conversations with. The more you talk about it the more knowledgeable you become.

There are always going to be things you need to inform yourself on when trying to save as well as habits you need to get into. Before splurging on something ask yourself if you really need to purchase it or if you are spending money due to emotions such as stress, sadness, anxiety etc. and as we all know, emotions can lead us to do a number of things. The idea is to start small, don’t get ahead of yourself and work your way up; as the expression goes: “Rome wasn’t built in a day”.  Be patient and check your balances on a regular basis. Seeing your money grow may be incentive enough to keep going.