I hope all is well with you. If you haven't realised, I have removed my last two posts for some reason. Do drop me a comment if you want them back on and the purpose, and I might consider re-publishing it again.
So yes, after all the posts about debts incurred and how I cleared debts, let's share some saving plans this time.
So what's first?
Set a target
Set a realistic target, please. How much do you want to save, and by when?If you are someone who had never succeeded in saving any amount, start small. If you are someone who just can't see kah ching without spending it, create an account without the ATM card, and set an auto ibanking transfer. If you have been saving but just undisplined, reward and punish yourself to keep up with the discipline.
Start small, and increase gradually.
If you are someone who had never saved, try small. $1, $2, $5 a month. Or just 10cents, 20cents, 50cents daily.I started with just saving my small changes. Amazing how coins accumulates to hundreds when deposited in a month or two. When saving such small amounts are easily achieved, double it up, or raise it a notch, and see the difference.
The above table is an easy start small plan. It is not that big to set aside $31 a month, is it? If you keep the discipline, this small plan will get you over $300 of savings in a year. If you want to be ambitious and save more, here's another plan.
Reward and Punish
I am someone who just couldnt help myself but to spend sometimes, and rewarding/punishing myself helps with my savings. I punish myself when I used what was meant to saved by repaying double to the next month on top of the monthly auto transfer. Feel the pinch, and you won't want to use it unnecessarily again.I reward myself when I didnt touch my savings by simple gestures, like buying a cup of bubble tea, or just by claiming the "never enough" hug from the husband.
Give it a reason
Give your savings a reason. What is it for? A holiday? For renovation? For a furniture? Or for you future children?When you have a reason, you'd be driven. With a reason, you will have a timeline for the savings too.
Above all....
And above all that, take the first step and start saving. Do it comfortably. Even with $1/day, it is still savings. Give yourself a pat at the back when you made it.Share with me if you have other technique to keep up with savings. :)
Wassalam,
Jun
2 comments:
I save all my coins and put them in the kids bank. it can accumulate to almost $400 in two months! In they go into the kiddo's bank the government doubles it! :)
Ya, be surprised how much little small change can accumulate faster than any planned ones. :)
I am always surprise with mine. That's why there's a Malay saying that goes, "Sikit-sikit jadi bukit". :)
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