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3 ideas that will boost your savings

Jimmy Rustling
Written by Jimmy Rustling

When it comes to building up your savings and incrementing your wealth you ought to set up tangible goals for yourself as only with your savings will you be able to fulfil your aspirations and get for yourself the things that you want in life. The money saved in your account is completely yours as it will not be taxed, it could be easily liquefied, it will be available at your disposal should your loved ones and family ever need it and more importantly it will help you in fulfilling your desires from buying a beach house, to travelling to Europe or facilitate if and when you’d want to retire early. It can also be useful for the succeeding generations when they grow up. So regardless of whether recently your savings account was drained for some reason or the times are moving towards a financial crisis or this is the first time you are thinking about monthly savings, here is a list of a few ideas that will increment your savings:

  • Set realistic goals

The first step towards reaching goals is setting realistic and feasible goals. For starters, you can adopt the old principle of saving about 10 % from the income and then slowly incrementing and building upon how much you can save each month. In addition to this, you can reward yourself every time you achieve a milestone. The reward could be anything like a watch or some sneakers you’ve wanted or depended on how big the milestone is, even a car.

  • Categorical savings

There are certain categories of things you own where you can save money, it could relate to the utilities you own or to the ways you can save some of that incrementing electricity bill. The first thing you should do is discard things like that old refrigerator of yours that consumes a lot of electricity and instead rent fridge with the latest technology that would surely save some energy consumption. In addition to this, if you are trying to save a good amount of money, you should also try to stop wasting money on some of the services you use regularly like laundry. Instead, you could just rent washing machine and use it for cleaning your clothes, even though it may require a bit more effort on your behalf it could be rewarding.

  • Plastic money over cash

From general human nature, it is evident that we like instant gratification and that is part of the reason why on several occasions we buy things we do not need and later on when we have to pay the credit card bills we end up regretting and having a buyer’s remorse. However, if you could change your practice a little bit and occasionally pay in cash you will find greater self-control in knowing when to spend.

These were some of the basic guidelines on how to save money, if you follow just these basic ideas you will find a substantial increase in your savings and the subsequent habit of saving money thus created will lead you to more ideas for saving money.

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About the author

Jimmy Rustling

Jimmy Rustling

Born at an early age, Jimmy Rustling has found solace and comfort knowing that his humble actions have made this multiverse a better place for every man, woman and child ever known to exist. Dr. Jimmy Rustling has won many awards for excellence in writing including fourteen Peabody awards and a handful of Pulitzer Prizes. When Jimmies are not being Rustled the kind Dr. enjoys being an amazing husband to his beautiful, soulmate; Anastasia, a Russian mail order bride of almost 2 months. Dr. Rustling also spends 12-15 hours each day teaching their adopted 8-year-old Syrian refugee daughter how to read and write.

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