On a daily basis, we are bombarded with messages about the importance of saving, how much we should save and for what we should be saving. Yet, it is something very little of us do and let’s be realistic – saving is generally not fun.
In previous blogs, we discussed various ways on how to save money by means of cutting expenses, and smart shopping i.e. how to achieve more value for less money. Now we need to ensure that we take the next step – actually putting money away in an account.
Before you start, be realistic about the amount of money that you can save per month. Rather start small and increase your saving amounts, this way you can stay on track and stay motivated.
Here are 3 easy steps on how to make saving fun:
- Visualise your saving goals
This can easily be done by attaching a picture and even a name to your saving goals. Get a picture of your goal and put it up where you will constantly see it and be motivated. You can cut this picture into a few smaller pieces and add a piece to the picture when you reach smaller milestones you have set yourself. Very similar to an advent calendar.When creating your saving accounts give them fun and motivational names, for example, retirement sounds so old and boring – rather call it Life after Work. Don’t just name your savings account holiday – name it after your destination and put a timeline on it, for example, Europe 2018.
- Challenge yourself
To stay motivated on achieving your saving goals set yourself a saving challenge. For example, R100 a week saving challenge means that you need to save R100 a week – no matter what your plans or circumstances are for the week. Alternatively, do the R1 a day challenge. Every day you save R1 more than the previous day.You can even challenge yourself to break old habits by saving the same amount of money you spend on this habit. For example, that extra café latte you order and don’t really want or need – match that cost with a deposit into your saving account – thus your café latte in effect costs double and you will think twice next time you order it
- Challenge your friends
We all have a competitive side so why not use it to achieve your saving goals. Challenge your friends or family to save as much as you. This way you will stay motivated to not only stick to your saving plan but also look for opportunities to save more and win the challenge.
There are also numerous games and apps available to help you with the motivation you need to save, and of course, it makes saving fun as well.
Remember that debt repayment takes priority to saving. If you need assistance to get your debt under control first, please give Debt Rescue a call.