Stay motivated to save money

5 Tips On How To Stay Motivated To Save Money

How can you stay motivated to save money? What will boost your willpower to stop spending it?

Do you want to stay motivated to save money? There is a simple truth that you always have to remember. You can spend your life knowing that when tough financial times strike, you will be broke, or you will always have emergency funds to lean on.

If you have ever had an emergency in your life, such as a job loss or illness, then you know how important it is to have money saved away. If you haven’t, learn from those of us that have been in the situation and felt the fear, pain, and struggle that comes with having no money in the bank to pay the bills and still feed yourself.

When my husband got sick and couldn’t work, and I had no job, the fear, and stress that we were feeling, didn’t do us any good. It made him sicker, it made me sick, and we lived day to day with a cold chill in our bodies. Now that we have money saved, we are not worried about a job loss or emergency. We know we will be OK. In fact, when unexpected household emergencies arise, we can easily take care of them without any stress at all. That’s not something you can do when you have no money in the bank, and you are on a budget.

You have to accept the reality that life is not always a bed of roses. And unless you’re smart enough to put some money away for the rainy days, then life is going to get even tougher during the really tough times. But, if you have money saved, life will always feel much easier, and you will feel much more secure.

Not everyone has the strong willpower and determination to save money, though. In fact, you may even find yourself guilty of swiping in that credit card impulsively upon spotting a cute pair of shoes or a fancy gadget at the mall. If you are struggling with the act of being frugal and saving money, then these tips on how to stay motivated to save money should help.

5 Tips To Help You Stay Motivated To Save Money

1. Set a Goal

To make anything happen, you have to start with a goal that will fire you up and encourage you to work harder to achieve it. In this case, you need to be clear about your purpose for wanting to save and grow your money. Do you want to be prepared in case of emergency? Do you want to have a year’s worth of bills in the bank to ease stress and make you feel more comfortable in life? And, how much do you want to have saved in order to feel secure or take care of any emergency?

One millionaire that I was listening to said that he puts away at least 20% of each check towards savings. And, he did this well before he was a millionaire. In fact, it is what has helped him create so much wealth. He knew he wanted money in the bank, and he set a goal to always put at least 20% of each check towards savings, on top of his investments and bills, and that commitment played a huge part in where he is today.

A clearly-defined goal should guide you towards putting away a portion of your paycheck for your emergency or retirement funds instead of handing it to the shopping mall. You will thank yourself for being money-smart and practical today, as these values can assure you of a secure and comfortable future.

2. Steer Clear from Commercialism

The truth is, this world tends to suck people into the culture of commercialism. People get blinded by shiny, beautiful, and quite frankly, meaningless things. They hoard and keep buying items they barely need, and in the end, these things end up as junk that only create too much clutter in their homes. You know it, and I know, it’s just a matter of admitting the truth to ourselves.

Do you really need to buy three pairs of new shoes, when you have four good ones in your closet? Is it necessary to shell out $100 for an antique jar that has zero purpose? Whether life is hard, or you think you have plenty of money to burn, there is no reason for you to buy nonsense things that serve no deep purpose or meaning to you.

Before you grab your wallet and pull out some cash or your credit card, think first if what you are looking to buy is a “need” or a “want.”  Remember your goal to save money for less stress and more security in your life. These thoughts will help you stay motivated to save money instead of spend it.

3. Stay Educated

There are many ways to save money, and it does not have to mean parking your cash in a savings account. Sure, it is better than simply putting your money in an envelope and tucking it away in the drawer of your bedside table. However, there are more profitable ways to save money and grow it over time.

Now is the time to be a bit more savvy about wealth management and growth. Do your research by checking credible sources online, reading books about financial management and consulting experts in the field of investment. You will be surprised to know that there are numerous ways to be richer and smarter with your money. Just keep an open mind that is eager to learn and explore these techniques that can turn out to be quite profitable for you. The more you train your mind and condition it to work towards the achievement of your goals, the higher your chances are of making things happen as planned.

4. Get Used To Thinking Long-Term

When you know that what you are doing today will have a positive impact on your future, it is easier to stay motivated to save money and manage your finances effectively. This is what separates the rich from the poor – the former has a vision while the latter only lives for today.

Unfortunately, the middle class tends to stay stuck in their daily routine and cycle of working, spending, paying debts, and working until they get exhausted, sick, old and die. The nasty part of this scenario is that because they have so little money saved in the bank, the spend their working years with so many insecurities about their retirement years. In short, they don’t get to enjoy much of their life at all because they are always in a state of worry or panic!

To spare yourself from a difficult life, you have to think deeper and conceptualize ways to experience greater comfort in the future. Every dollar you save today counts, and all you have to do is to think more for the long-term. If this is your mindset, then you will be more practical and sensible about the money you spend and more motivated to save money.

5. Start Early

You may be thinking – “Why should I start worrying about my future now?” This is a common error among people, and they hardly realize that it’s too late until they find themselves blowing their 65th candle on their birthday cake and having insufficient funds for their retirement.

Just like what Robert Kiyosaki said in his book Rich Dad, Poor Dad, “The only difference between a rich person and a poor person is how they use their time.” Always remember that your time to benefit your entire life is now, and use that lesson to keep you motivated to save money and do what you can to make even more money to save.

Make an effort to grow your finances and secure your future. You should always be thinking about ways to grow your income and, thus, grow your savings. Use your current job as a stepping stone to gain experience and funds, then expand further by establishing your own business, investing, and spending money wisely. You will thank yourself for being a visionary at your current age!

Final Word

Saving is a necessity in this tough and ever-changing economy. If you remain on the sidelines and just daydream about the future without making any concrete steps to the fulfillment of your dreams, time might get the best of you. That thought is enough to keep me motivated to save money.

By setting clear and realistic goals, not giving in to commercialism, staying educated, having a vision, and starting now, you can help yourself to stay motivated to save money at any state of your life.

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