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Do you feel like you’re not making any progress with your savings this year?
Today I’m going to share five simple and powerful ways you can save a lot more money!
The Secret to Saving More Money
Saving more money is one of those big goals that a lot of people have, but get stuck.
How do we get out of that cycle how do we actually make real progress?
I want to share five ways you can do this with these five steps you can manage and master.
You can watch me break them down in this week’s Marriage and Money Tips or check out my take right below!
Create a Visual Reminder of your Goal
The first step is to create a visual reminder of what you’re saving up for.
I hate to break it to you but simply relying on willpower will pretty much guarantee you’re going to fail.
Yes, you do have to have discipline with saving but you can make it a lot easier on yourselves if you create things to motivate you and push you through.
Visual reminders are a fantastic way to do that. If you’re saving for a trip take a picture of the destination you guys are going to.
Your picture allows you to remember you’re not just saying no to a bunch of things. you’re instead saying yes to what really matters to you.
Set Weekly Savings Goals
The second step is to choose a savings goal for the week.
Sometimes we look at this huge number and we get intimidated, but if you break it down into smaller bits it’s much more manageable. You’ll be more motivated to fall through.
Go ahead and break it into a weekly goal how much money are you going to save this week.
This is also good because week to week things change. Maybe this week you’re not going to save as much but you’re not stressed out and you don’t feel defeated because you know next week you’re going to save a little bit more because it’s a quieter week.
You can make sure and challenge each other on how much you can save.
Track and Review Your Money
The third step is to have a way to track and review your money.
There are apps and options out there now that make it so simple to check on your finances in about five minutes.
Not sure which is right for you? Three to consider are personal Capital, tiller, and Mint.
These are fantastic options that allow you to look at your money that you can see how much you’re spending without having to track every penny yourself.
Learn More about Money
The fourth step is learning more about money and educate yourself.
You can watch videos, listen to podcasts, or read a book. Just spend 15 minutes once a week and you can get tips and ideas to save more money.
Automate and Schedule Your Savings
Finally, the last step is important because I think sometimes we get all excited about the money we save and yet it’s not in the account.
And that step is to automate and schedule your savings.
If you guys decided this week we’re going to save this much money, go ahead and schedule that money to be put into your savings account. That will keep you on track.
If you negotiated a deal with your cable company, car insurance, or cell phone, make sure you set up that transfer!
Your Thoughts on Saving More
So there you have it. As you can see they’re not complicated but they’re very powerful.
You can do these steps once a week and that can make all the difference with your savings goals.
If you’re looking for more ideas on how to save more, please sign up for my free 5 days to $5K course!