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When saving money does not come naturally, stashing away a little for a rainy day can feel like self-deprivation to the highest degree. But it is important to find a way to get past that attitude so you can achieve your financial and personal goals.
There are ways to trick yourself into saving more or spending less so you don't necessarily have to feel the pinch of putting money away. Take a look at the following suggestions.
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1. Save the Change
Instead of allowing your change to be scattered all around your house and vehicle, create a centralized place for dropping loose change. This way, you can take it to the bank at the end of the month or when the container is full, and you will have saved money that would otherwise be lost in cracks and corners.
2. Make It Automatic
Even if you can only afford to put aside $20 at the end of the month, it is worth it to set up an automatic transfer to put this money away. When you make saving automatic, it takes the effort out of saving and ensures that it gets done regardless of what else is going on in your life. In addition, if the amount you put aside is small enough, you might hardly notice it is gone, but you will be slowly building a store of cash in a separate account.
3. Pay Bills on Time
Paying bills on time ensures that you don't run into unnecessary late fees and charges. This can add up to a considerable amount that potentially could have been saved instead.
4. Don't Spend Salary Increases or Bonuses
One of the easiest ways to save without noticing is to simply make the decision not to spend any salary increases or bonuses. This way, you maintain your standard of living, but you also increase your savings and your net worth by the amount of your increase. If you can manage to do this for an extended period, you can amass an enviable nest egg.
5. Recycle or Use What You Have
Finally, it is always better to use what you have than it is to spend money to buy something new. This saves you money, and it also saves the environment. This can take some getting used to, but you can learn to be on the lookout for ways to use things in different ways or to buy used instead of new when you can.
Saving money doesn't have to feel like punishment. It can actually be totally painless if you approach it in the right way.