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Make Saving a Habit
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Category: Financial

No matter how small the amount, savings is an investment in your own wealth and self worth. Establishing a habit to save will create positive energy in your life and foster a positive outlook.

First, establish a routine. Determine how much you can afford to save, then pay this amount to yourself before you pay your bills by separating it from the cash you access to spend on your expenses. For example, deposit it into a savings account every time you are paid. This will remove the money from your readily available cash so that you will be living without it.

Second, determine a goal. Perhaps you want to save $1,000? Whatever the amount, each time you add to your savings, you become closer to reaching your goal.

Third, do not access your savings until after you exceed your goal. By removing the money from your savings, you only rob yourself, injecting a negative force into a positive one you have established.

If saving is difficult for you because you are prone to spend freely, consider saving a game. That is, identify something you regularly buy but that is also something you can essentially do without. Then, trade that expense for your savings. For example, if you buy a soda every time you go to the movie, consider not buying a soda and save the money instead.
Break the habit of spending by creating a new habit of saving.

If saving is difficult for you because your bills nearly exceed your income, start a simple savings account, such as placing your daily pocket change into a spare coffee mug in your kitchen cabinet. When the pocket change topples over the top, you will prove to yourself that you can save, despite your income, and the satisfaction you will feel will inspire you to try even harder to save more.

Investing your savings will help your savings pick up momentum. By earning money on your savings in the form of interest (through a savings account or investment account), you will be able to increase your account even more when you do not withdraw the interest. Leaving the interest in your account with your savings, you will create a more powerful habit by earning compound interest (earning money on both your initial investment and your earnings).


Don't delay saving. The longer you delay saving, the more you rob yourself of your own wealth potential. The earlier you begin to save and the longer you save, the more you will have in the future.