Saving money is on everyone’s mind but how do you actually keep on saving money? How is that you can keep yourself motivated? A hundred years back, there were far less provocations to spend. Today, with an iPhone selling next door and the shopping plazas always having a thousand items on sale along with consistent promotions and discounts here and there for almost every product have created a world that is full of distractions from saving money. In such a scenario, there are certain plans that you need to have in place if you are to have your retirement fund well stacked or invest in the finer things later which are of value to you. Here are some tips to get money motivated.
- There is no greater friend to your financer than your bank. You may be lead to believe that banks charge you high rates of interests and the likes but it is the bank accounts on offer that can actually change the way you go about saving money. When you consider certain bank account on offer, also check out certain saving schemes, short term deposits yielding decent rates of return. You can preset your bank accounts on offer to deduct invariably deduct the pre decided funds on your payday. That way even before you get an opportunity to spend your money, they would be saved. You may feel a little bad having cut down on cash at hand but over a year when you see your savings have increased, that would be a highly satisfying reward.
- People believe that a great way to save is to avoid expenses. But in reality, you cannot actually avoid expenses. What most people do is cut down on general expenses but cannot avoid the occasional huge expenses that are driven by a sudden surge of interest. Yes, one has to party but one can do that at home while having a spending plan. Blowing of your savings is the last thing you should do.
- Determine certain days of the month when you would have a very simple day and avoid any expense that is not absolutely basic and necessary.
- Indulge in activities that do not cost you money. Instead of buying a book or a DVD, get them issued from a library and stuffs like that.
- Know and set your minimums for the best bank accounts on offer to send you notifications on any appreciation of your deposits and asset values. That shall bring a smile on your face and drive you even further.