Sharing is caring!

Are you among those that wish to save your money but find yourself still going back to your spending habits? Then you should read this article.

In the era that we live in, spending money has become so easy as you don’t need to have money in your hand but with the use of internet banking you can buy anything you want and get it delivered to you or send money to whoever you want without even leaving your home.

Most times people make up their mind that they are going to save a percentage of their income but still end up spending it and the next month they still make up their mind to save and still spend it again. The circle goes on and on.

If this is your case, you will find out that at the end of every year when you check your account balance you will find out that you don’t have a savings to fall back on in case of emergencies.

There are lots of things that take our money that we overlook and they include food, clothes, TV subscription, Data, and the worst airtime.

With the way, it is now easy for people to buy airtime from their bank using a particular code ypu can keep spending on airtime without even knowing.

Imagine its night or you’re too tired to go out and you on the phone and your airtime gets finished what do you do? You end the call and wait until you go out to buy airtime. But now you don’t even have to leave your home anymore by just using your bank code you can buy airtime.

I am not saying it’s bad but think of how much you spending now on airtime compared to before. This has affected me before as I keep buying and buying airtime from my bank even when it’s late at night.

Believe me it is difficult to save money nowadays as lots of cool gadgets and accessories are coming out and online shopping has become easier.

The question is how can one reduce the way they sped money so they can have a savings to fall back on in case of emergencies? 

Today we will be looking at 5 steps to be able to save your money.

Get Your Head Right

It is impossible to cut down on how you spend money if you do not make up your mind on what you want to do. You must first makeup your mind to start saving money or else you will keep going round the circle.

You will have to identify those things that take a huge part of your income and either eliminate them completely or find a way to reduce them. This may be cutting down on the number of times you eat in a day.

You must know that the reason why you work is to earn money so you can be financially free and the way the country is going where no one is guaranteed of their job and anything can happen at any time your savings is something you can fall back on and still be able to live a comfortable life till something better comes up.

Decide On The Percentage You Will Save

Nobody is asking you to save 50 or 90% of your income.

Depending on the amount you earn you can pick a percentage even if it’s 5% for a start and stay committed to it then you can increase it after a while.

There are lots of things that are out there ready to take our money at the end of every month which may include bills, family needs, food, health care etc but that should not stop you from saving a percentage of your income. 

Let It Be Your Top Priority

Well if saving is the last thing you think about when you receive your salary trust me you are never going to save even a dime. The idea should be to spend after you have saved not vice versa.

Once you have decided on the percentage you want to save that should be the first amount you take out before you start spending on other things (I advise you also pay your tithe first).

To make this easy, you can give your bank a standing order to transfer that amount to another account immediately your salary enters your main account.  

Make Your Savings Hard To Access

When it comes to saving money, the moment you are able to access your savings at any time you desire you will not be able to save. Surely you will see things you love and want to buy and if your savings is easy to access you will buy those things.

But imagine you see something that you want and when you think of how hard it would be to access your savings you will suddenly develop disciple to control yourself.

Read Also: Entrepreneurship: Role Of Innovation In Business

The best way to make it hard to access your savings would be not to have an ATM card linked to that account. Not only that, you will have to cut off from every other method of accessing that account. ‘

Adjust Your Lifestyle

Have you ever seen something in a shop that you love and after spending your money to buy it and getting to your house you realize that you don’t really need that thing? This is what happens to many people and make them not able to save. I have fallen victim of this countless of times.

You have to learn to live a simple life style, get to know what your needs are and focus solely on them leaving the wants behind.

You don’t have to wear the most expensive clothes or shoes to look handsome or beautiful. The sad thing is new fashion keeps coming out and if you are the kind of person that loves to wear the latest then am sorry to tell you that you are hurting your financial freedom badly.

Reliable Web Hosting in Nigeria by DomainKing.NG


You will never know how helpful these tips are until you start practicing them. No matter how much money you earn you can start saving a percentage of that money and after a while, believe me, you will be happy you did.

Read Also: 7 Things To Consider When Drawing A Financial Plan

Do let me know what you think about this article in the comment section.

Leave a Reply

Your email address will not be published.