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As a child I was taught to save, just as young I was taught to use cash, and not credit for everyday items.

Looking in my savings account, I have a balance of $63.57. This money has been a recent accumulation of my freelance writing jobs, that is after I had spent more than three times that on shoes on eBay. I have made much financial discretion, and have just begun to see the value of a savings account. Why does it take my generation so long to realize the value of an old fashioned savings account?

Our generation is unable to save for the following three reasons:

Debt comes before savings, and we have too much debt too pay to save any money this brings us into an endless circle because than we accumulate more debt trying to pay bills, because we cannot use our savings for emergency expenses.

In an age of add-on sales, and split decision shopping we have too many possessions Do we want it or do we need it? The two are hard to distinguish between a lot of the time.

Convenience. It is more convenient to spend than to save. It is more convenient to buy premade dinner at a restaurant than to make dinner at home. It is more convenient to spend than save, I mean how can the money just sit there accumulating tiny amounts of interest!?

These are the problems with our generation and savings but they can be summed up in one sentence. Savings could be easier, but with many obstacles and the lack of quick results it becomes hard. One must work at it. These are some tips that are working to build up my savings account.

Open a savings account, this may be obvious to some but you would be surprised as to how many people save in their usual day to day account and are than surprised once they go under a certain amount.

Open a Savings account that costs you money to transfer from each time. This will deter you from taking money out of the account on a regular basis.

Have a sole income contribute to the account, or a certain amount weekly or monthly. This will ensure regularity and become habit.

Do not touch your savings until you reach your goals or unless you require it for a specific expense. While you are saving, make a list of five acceptable reasons to withdraw from the account.

With these tips you should be able to save in no time get excited about these small amounts! I am very excited about my sixty odd dollars, and this is the motivation that's causing me to continue!

Learn more about this author, Lori Godin.
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