How to get Motivated to Save Save Money Accomplish Goals Set Goals Reward yourself

Paying your bills and loans on time is not enough to give you financial security. While it is definitely a step in the right direction, in order to feel financially secure as well as reaching goals, it is necessary to start saving money. This may seem easier said than done in times of  economic recession, especially if you feel like a penny-pincher on top of it. If you follow a few tips though, you will realise that even though difficult, saving money is actually an attainable goal.

How to get motivated to save when you feel like a penny-pincher

1. Set goals

The first thing you need to do is set goals. Determine what you want to buy with the money you will set aside. Starting with something small  like paying for an online course is recommended, as it will be easier to be accomplished. As small goals will be reached, you can start setting bigger goals, like buying a new car or going on a trip abroad.

2. Decide on a specific amount

When feeling like a penny-pincher, it is difficult to set aside a big amount of money on a regular basis, and for that reason, it is best to start with a small amount. You need to decide on a specific amount though, like 5-10% of your paycheck. This is especially important, as it will help you maintain self discipline and do not conveniently ”forgetting” to set money aside. You need to keep in mind though that the smaller the amount of money you save, the longer it will take you to accomplish your goals. If you do not mind waiting a little longer that is fine, but if you are not very patient, you will have to come to terms with the fact that you need to gradually but steadily increase the amount of money you save.

3. Keep visual cues everywhere

A good way to get motivated to save when you feel like a penny-pincher, is by keeping visual cues of the things you want to purchase or the services you want to enjoy. If you want to buy a new car for example, keep photos of cars that you like everywhere in the house and buy car magazines. If you want to travel to an exotic island, put photos  on the fridge and pick wallpapers featuring that exotic island on your computer. That way you will be constantly reminded of your goals and will have no excuse to back off.

4. Reward yourself

Every effort deserves to be rewarded. In order to get (and stay motivated) to save money,  what you need to do is reward yourself for every time you save money and manage to resist the temptation to spend. Increase in reward should occur as more time passes by with you continuing to stick to your guns and save the amount you have decided on. For example, you can start with a nice cup of coffee at Starbucks and proceed with the purchase of a new book. A word of caution though: Do not allow your enthusiasm to overwhelm you and end up rewarding yourself too much. That not only can lead to overspending, but also to over-confidence which will deter you from keep on trying to reach your goals.

By setting goals, deciding on a specific amount, keeping visual cues everywhere and rewarding yourself you will definitely succeed not only in saving money but also in managing your finances better, long term speaking.