Sometimes thinking about saving money is harder than actually doing it. If you’ve got a savings plan to help you focus, you’re well on your way.
However, if you’re still asking yourself, “Where’s it going to come from?”, here are three tried-and-true methods to help you save.
Get in the habit of setting aside some money from your paycheque to achieve your short-term goals. Hint: It’s easier if you think of it as something you have to do, like setting aside money for your mortgage or rent.
Just because something is “on sale” doesn’t mean you should buy it. Focus on your goals and resist the urge! Also, be aware of when you’re vulnerable – ignore the impulse to buy things to treat yourself when your work or personal life is stressful.
Unlike your mortgage or rent, you have control over your variable expenses – lunches, coffee, clothing, music, entertainment, etc. This is the first place to look when you want to save money. Keep track of what you spend in a month to see where your money is going. You may be surprised!