by Kateryna Patskovska

Created on: October 20, 2009   Last Updated: October 22, 2009

How to save money?

The best way to save money is without thinking about it. How is that possible? Let me explain.

Many people have problems saving money. Why? Well, let's see. Overtime everybody trys to save money but something would come up: buying kids a new coat, a bill that they forgot to pay or it's Holiday Season. So when peoplewould put money away for "a rainy day", that day would come earlier than expected.

This is the dilemma: cash is easy to spend. People would take money out of the savings and thinking that they just borrow this time and put money back therefore leaving a difference of zero. At the end of it-all of the savings has been depleted in a less than a month.

So how to save that money? Using these following steps you will be able to save and not worry about depleting your savings all over again.

Let's look at the following steps to successful saving.

First: look at your financials, your income and decide on the amount of money that you can easily take from your monthly income and not miss it. Example, I decided on $20.00. (Important: this amount is taken out before any monthly bills that you need to pay.)

Second: give yourself a low savings goal.This way you will not get discouraged from saving and will see your money grow. (It has been proven that people that set a low goal over a longer period of time tend to save more money than those people that set a goal too high.)

Third (This step is very important): set up an automatic withdrawal of your specific amount, from your primary checking where your paycheck goes. Why? Here is the secret-set the automatic withdrawal on frequency of when you get paid ex. every week or every two weeks. This way the money will be automatically taken out of your chekings before you will look at your balance and will use the available money.

Now you ask yourself: Does this tactic work? For me- yes. I was able to utilize this method and was able to save $300.00 in a course of 6 months and have not taken any money out of the savings. The best news: is that my goal was only $200.00. I have exceeded my goal therefore motivating me to continue to save.

Hopefully you will be able to utilize this method too and become successful in saving your hard earned money. Good Luck!

Learn more about this author, Kateryna Patskovska.
Click here to send this author comments or questions.