Tuesday Sep 2, 2014

Applying Baby Steps to Saving

28 May 2011

For some people, saving can a extremely hard task; whether it is because they are frivolous spenders and cannot seem to put away money, or they find it impossible to find money to put away, they have deemed it impossible for them to save any money for the future.

How I see it, saving can be done regardless of your situation. The time it takes for you to make excuses as to why you cannot save, you can probably come up with a way to save some money.

Whether you are drowning in debt, or bombarded with expenses, there is always a way to do something once you put your mind to it.

How can I save then?

Saving does not require you to make huge contributions to an account, that would be nice, but in the real world we would find ourselves taking baby steps.

What I mean is start out small, whether it is any change you have at the end of the day you put away in a jar, or any income that comes your way unexpectedly.

Taking small steps will help you slowly climb up the ladder to saving more money.

Once you have reached a better financial position, you could consider setting up an automatic withdrawal each month. This is something I would recommend to anyone who finds it impossible to save because they spend their money on practically anything.

Whatever you choose to start doing for saving, you have to remember that it is important you progressively increase the amount you are saving when you can. Start looking into your budget and finding ways to cut costs. You may have to give up a few items that can be deemed as luxuries, but I the end you are building a savings that will help you in future goals.

Last but not least, you have to be strong with your mission to save. You cannot back down on it because you find it hard, or you see something you want to buy right away. It is important that once you set your mind to something, you stick with it.

Honestly, it might not be easy, but after some time, you will get accustomed to it and it will get better. Slowly you will not even notice that you have less money to spend within the money due to you putting it away.

Give it a try, take baby steps and who knows you might be able to save more than you imagine.

iamge source: o5com

 

About the Author

Sensei

My favorite weapon of choice is the samurai sword. I use it to cut my chicken during dinner, cut my hair and periodically carve my name into stone when I am bored. I love meditating on top of a 15ft high pole and eating those sushi’s with smoked salmon on top. I love everything there is about Canada and everything financially related to Canadians. I write deily posts from Canadian Banks to Credit Card information.

Comments (1 )



We started with baby steps of saving the $5 and $10 birthday gifts we got. Pay yourself first and be persistent (for a reallly long time) – that’s the ticket if you don’t make a lot.

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