Many people ask me the following question: “How do I start saving money if I have none left over at the end of the month? How can I save money if I’m spending more than I make?” My answer is very simple…. pay yourself first before you pay anyone else and pay yourself (save your money) on a consistent basis. This means that starting today, you are going to save your money before you buy that coffee, before you pay your utility bills and before you eat out that night.
Do this daily! Start by saving $1 dollar every day for the next month. You will not miss the money. Then during month two increase the amount to $2 per day. Then month three increase the amount you save to $3 per day. Everyday stick this money in a jar and at the end of the month deposit the money into a market account or an account that returns a rate higher than a simple savings account. You will be surprised how you will not miss the money and you will be amazed at how much money you have saved after just 6 months. You do the math!
The key to starting to save money is to start now with small increments and save your money on a consistent basis. Too many people try to save money in large chunks on a less frequent basis. Stop this type of thinking and save small amount of money on a more consistent basis. To your financial future!