We'd like to thank Shawn Ambrose for submitting today's guest post blog.
Saving money is not always easy and so it helps to have self motivation tips that can get you through the tough financial times. Being able to live on a tight budget and put aside money is very essential at this point of time when there is a credit crunch going within every household. As the economy is recovering from the recession and the unemployment level is too high, the debtors are desperately trying to save money but with the cash-strapped situation, they're lacking motivation. While an online budget planner can help you formulate a budget and stay within your means, there are very few who take help of this online financial tool. Here are some ways in which you can motivate yourself into saving your hard-earned bucks.
- Save little but save often: Though it may not be favorable for you to save a lump sum amount of money every now and then, but make sure that you save little but often. Every time you have changes left after returning from the grocery store, save them so that this may increase into a large amount some day. Saving $1-$2 a day is not a bad idea! Almost all of us can cut off a dollar from our unnecessary spending and save it for the future. Do this and as you see your funds increase day by day, you'll feel motivated.
- Maintain a savings log: Whenever you're someone who is sorting out your finances, you will be recommended to maintain a savings log. The more you keep checking your savings log, you can get motivated with time and this will encourage you to save more money in the long run. Each time you deposit something in your savings account, don't forget to mention the date on which you did so that you can easily stay on track.
- Keep a goal in front of you: If you have a goal in front of you, it will certainly become easier for you to save your bucks. Having a clear goal in mind will always help you take the best decision to saving money. For instance, if you can be sure that you have to buy a new home in 2013, it is more likely that you will get an urge to save money and stop spending this life of a renter. It certainly takes a huge part of your salary to pay the rent and owning a new house can add a brand new dimension to your life. Therefore, keep such goals so as to steer clear of the goals.
- Automate your savings account: However, in spite of all this, if you still feel that motivation wanes and waxes, you should simply automate your savings account. You can automate your checking account with your savings account and set a date so that a portion of your monthly salary automatically gets transferred to the savings account. This will relieve you of all the efforts to save money.
There are plenty of other ways in which you can motivate yourself to save your bucks. Save money and follow a budget so that you get to know where your pennies are going. If you can keep a track on the income and expenses and always try to keep your income more than the expenses, you can have a shining financial future. You may even get help from a budget planner to craft a frugal budget.