Saving money is a goal that many of us have. The good thing about saving money is that there are multiple ways to do it. What you need to decide is which ways of saving work best for you and then give it energy. Give it the same energy you would give to saving to buy Beyoncé concert tickets.   

Below are a few ways of saving that I recommend along with 40 Other Expert Tips courtesy of OppLoans to kick up your savings goal.

Set up a Savings Accounts – If you want to successfully save then you should separate your savings from your bill and spending money by putting it in a separate account. If you don’t separate this money, then you will be more inclined to spend it whether by accident on purpose. There are multiple options for savings accounts, but you should consider an online savings that yields a slightly higher interest rate than a traditional savings account. Online savings accounts also provide more limitations to easily accessing your savings.  Thus, minimizing savings dipping.

Pay Yourself First – Before you pay any bills pay yourself first. So, what does this mean? It means as soon as any income hits your bank account, you put some money aside for savings. Start small and build your way up, even if you start with only $50 per paycheck. Paying yourself first puts this money out of sight and out of mind. Soon enough you’ll get used to not having this money to spend.

Automate – Eliminate the thought process of saving by automating the process. Time the automation so that as soon as your income hits your bank account your savings is automatically transferred to a savings account.

Stash the Bonus and Pay raise – Don’t use a bonus or a pay raise as an opportunity to ball out of control. Yes, you can treat yourself to a little something, however you should use a bonus or extra bit of monthly cash from a raise as an opportunity to save more. 

Make it Fun – Set a savings goal, give yourself a due date and reward yourself along the way for hitting your savings target. For example, if your savings target is $500 then celebrate by giving yourself a reward when you reach $250 and then again when you reach $500.

The Bottomline…. Decide on a savings plan that works for you and put energy behind it. If you need someone to hold you accountable or help putting together the right savings plan, then click here for help.