How to Save Money without Even Noticing It
It’s true to say that not everyone finds it easy to save money, whether it’s due to a lack of discipline or a lack of disposable income, saving money is just really difficult for some people. If you feel as though this sounds like you, it’s important that you don’t give up on the idea of saving altogether. Many people find that they even though they thought it was impossible, they are still able to save money without even noticing an impact on their day to day finances by finding a saving style that works for them personally. So, what is the best way to save money without even noticing it?
Regular but Smaller Bank Transfers
Some people find it difficult to allocate a monthly savings amount to go out of their regular bank account and into their savings account each month because, when the time comes around for the money to go out of their bank, they realize that they have overspent during the month or that another big bill is due to go out. After this happens for a couple of months running, they just end up cancelling the regular monthly bank transfer that they have set up because they feel that they simply can’t afford it. In this situation, it might be a good idea to try setting up a more regular bank transfer – say weekly – but for a smaller amount, just so that you constantly know where you’re at moneywise and therefore don’t overspend simply because you’ve forgotten that your savings are due to go out. For many people, a regular saving of say $10, $20 or $30 a week – or whatever you can afford – can feel a lot more manageable and less noticeable than saving $40, $80 or $120 on a monthly basis. This all depends on your own personal circumstances but if you are finding that you just can’t seem to keep up a monthly savings habit, then perhaps a weekly one will work better for you and this has to be worth a try, doesn’t it?
Saving Loose Change
Another way to save money regularly without really even noticing it is to save any loose change you might have in your pocket at the end of each day. If you were to put just $2 a day away in this way on average throughout the month, then by the end of the month you will have saved around $60. Do this over the course of a year and you will have stashed away a cool $720, enough to pay for a holiday perhaps? Whether you choose to save it up in a piggy bank, a lock box or a giant glass jar, saving in this way can be really useful if you find that putting larger amounts of money away on a monthly basis just doesn’t seem to work well for you personally.
Deprive yourself of a purchase for the greater good
Ok, so you will notice this one but it could still really help you to start saving money regularly. Most of us make small purchases during the week that we don’t really ‘need’ to make. This could be a coffee from Starbucks, a snack, a magazine or something of this sort. By depriving yourself of these small purchases and then deciding to save this money instead, you can find that your savings pot will really build up quickly. I think the best way to do this is have an end game in mind. Let’s say that you are saving towards a spa day with friends for example or something of this sort. If you keep this in mind as your savings goal and just think ‘I won’t buy this coffee and instead I’ll place the money I’ll save into my savings jar for my spa day’, then if you do this on a daily basis I can guarantee you that you will hit your savings goal in no time at all, depending on how big the goal is, of course.
So there we have 3 ways of saving money that can be really useful for those people who struggle to save larger amounts of money on a monthly basis, and most of the time you won’t even notice the money going out of your pocket and into savings.
Do you have any tips for those who struggle to keep up a savings habit?