Guest Post by Victoria Crowdell from Cash Protection Agency LTD
There is nothing more stressful than worrying about your financial situation. It’s hard to enjoy the simple pleasures in life when you’re too busy worrying about how you will be able to afford the simple pleasures in life. You can start saving your sanity by trying to save some of your money.
You probably make daily decisions about what to do with your money. You have already cut out unnecessary expenses and don’t think you could cut anything else out but still struggle to save money. You already skip the Starbucks coffee run when the rest of the office goes in the morning and drink the cheap coffee available for free downstairs in the office instead. You don’t spend money on flights to visit friends or even on long distance phone calls to talk to friends. You have the least expensive cell phone service, the least expensive clothes and you put the least expensive gas in your car. Yet you struggle to save money at the end of each month.
A simple secret to saving money is to transfer a small percentage of your paycheck into your savings account right when you get paid. Payday for many people is no longer an exciting day. You, like many people, probably view payday for yourself as payday for all the people you owe money as well. You see the money deposited into your account and then almost immediately have to use it to pay your monthly bills. The account balance dwindles quickly as you pay your electricity, water, cable and mortgage bills. Rather than living off of the small amount that is left in your account after all of your outgoing bills are paid and telling yourself you’ll put what’s left in the account at the end of the month into savings — you should put the money into savings right away.
If you transfer 10 percent of each of your paychecks into your savings account each time you get paid, you’ll start to find the number in your savings account increasing and your anxiety about your financial situation decreasing. Ten percent may seem like a large amount when you first start transferring finances into your savings, but you’ll start to realize that you adapt to the amount of money that is available to you. Now not only will you skip the morning Starbucks run with coworkers, but you might also start carpooling with coworkers because you know you can only fill your car with gas three times a month rather than four times a month. You may stop buying the daily lunches at the office because you know you can only afford to go out to lunch occasionally.
That 10 percent will slowly start to increase with each paycheck you receive and you will start feeling better about money as the number increases. It will become easier to save money once you have a small savings started because you will know how comforting it can feel to have financial stability. So start saving your sanity but saving your money… 10 percent at a time.
Victoria Crowdell loves creating articles to help people with day-to-day life. She writes on a variety of subjects including DIY, fitness and credit control services, and wishes she was a bit better at practicing what she preaches on all three counts.