We all know how important it is to save money. There will always be some unforeseen expenses that we won’t be able to avoid. But sometimes, its importance has been taken for granted because it is a real challenge for some who have a very tight budget.

save money

So here are some ways where you can still put some away as savings:

Did you get a raise at work? Try not to consider it as an opportunity to super-size your lifestyle, but a chance to super-size your savings. Step-up your 401(k) savings by the sum of your raise, or use your auto-draft to put the extra money in savings. Then, continue on with your current lifestyle.

Accessible income is money that’s likely to get spent up. To save money, keep your savings unreachable by sticking it at a different bank than your checking account. The additional hassle of going to another bank will make you think twice about using it. CDs and savings bonds are likewise good savings tools for keeping money out of view.

Saving change is in no way a fresh idea, but there’s a reason for that: it actually works. Make a habit of putting all of your change into a jar each night. Then, save money by putting it into a savings account when the jar is full.

Do you take part in a lot of rebate offers? If so, think about sticking all of your rebate checks into a savings account. You aren’t in all likelihood going to miss the money, but you’re likely to like getting those savings statements in the mail.

Determine how much you’d like to put away. A thousand, 3 to 6 months’ living expenses, a year’s wages. There are many opinions out there about how much you can save money by placing into an emergency fund, but the only view that matters is yours. Ask yourself how much you’d need to have put away to feel safe, and make that the amount that you lay aside in your emergency fund.

These days, if we cannot get insurance, we need to save money and allot it not for our future only but also for an emergency fund. We need to be ready because if not, those unforeseen events can rock our financial status and may lead us to be in great debt.

So, start saving money today so that you can enjoy the benefits of having done so for years to come!

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