How Changing Your Mindset Can Help You Save More Efficiently

Posted on Saving   /   22 Aug 2018   /   No comments

With so many experts offering extensive savings information, it can be hard to pinpoint which is the best information for your individual needs. However, saving should not have to be a complicated topic, and everyone regardless of status or how much or little they have to put away can easily undertake a simple savings strategy.

The best way for anyone to start saving successfully is to develop a practical mindset and utilize only those tips which are useful to personal circumstances. Let me share with you my tried and trusted savings techniques:

Open an Online Savings Account

The best one will not provide you with a card to withdraw money for but rather encourage you to use the account by transferring money to and from your main bank account. Better still, if you can’t immediately see this savings account every time you log onto your main bank account, all the better. This way, whenever you have spare cash in your account, get rid of it quickly by transferring it immediately to your savings account and then forgetting about it. What we don’t visually see, we don’t plan to use!

Commit to a Small Amount of Money to Deposit Every Week

This works well if you think about transferring over say the price of a coffee, book, or small piece of clothing to your savings account, instead of putting it into the shop’s pockets! Challenging yourself to do this for a month can yield some fantastic results, and then you can set a new set of goals for the month after if you’ve managed this successfully, placing a little more in it each item.

Name Your Savings Account

It has been proved so many times that when we personalize a savings account, we give it a purpose – defining it and giving it a reason for existing. This, in turn, makes us more likely to commit to it long term. Therefore, if you have an end goal in mind, think about using this when naming your savings account to visually enhancing your saving power!

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