1. Record Your Expenses: Figure out how much you spend and keep track of all your expenses. e.g DATA . ha DATA, groceries, cinema, Coldstone & pizzard etc
2. Make A Budget: Once you know how much you spend monthly, you can organise your expenses into a budget, that way you can tell when your are doing more than your power.
3. Plan To Save Money: Now that you have a budget, create a savings plan within it. If your expenses are so high that you can’t save that much, it might be time to cut back.
4. Choose Something to Save For: Setting a goal is the best way to go about this, saving for a trip, retirement, so figure out how much you will need & how long it will take you to save. E.g Short term goals ( Vacation, payment on a car), Long term goals ( retirement, Child’s education).
5. What Are Your Priorities: After your expenses and income, your goals are likely to have the biggest impact on how you allocate your savings. Be sure to remember what is important & what is not. Learn how to prioritize your savings goals so you have a clear idea of where to start saving.
6. Pick the Right Tools: Tools to save for long term goals are different from tools to save for short term goals. its important to be able to tell the difference.
7. Make Saving Automatic: Almost all banks offer automated transfers between your checking and savings accounts. Talk any of your banker friends for options that can work for you.
8. Watch Your Savings Grow: Review your budget and check your progress every month. Not only will this help you stick to your personal savings plan, but it also helps you identify and fix problems quickly.