2. Introduction
• Over the years, people have become more aware of the need to Save money.
Money as we know it is today is pretty much very important and that is why we
spend time and energy making ends meet in order to acquire that extra buck. For
most people it is very difficult to earn money but yet, it is very easy to spend all of
it or even lose it. Poor judgment coupled with error in thinking can lead to losses
amounting to millions of dollars. We are not just saying this but we have facts to
prove it.
• According to Business Insider it mentions 14 rich people who lost all their money
within a short time (www.businessinsider.com.au/rich-people-who-lost-their-
money-2015-1). Hard to believe but its totally, totally true and it even gets more
interesting, most of them we even know them. All of them famous and people well
known across the world. But if there is anything I have come to learn in life, Money
can disappear anytime if we do not use it the right way. But before we get into
understanding the 10 ways you can save your Money, what is saving and why is it
even important anyway?
3. What is Saving?
• Most people would like to believe they have an accurate definition of the word
savings. I actually thought so too until I did a bit of Googling on the Internet and
found a spun of surprises. Most people when asked if they are saving, for those
who actually say yes they are going to tell you that they are saving for a Car, a
Vacation or anything in the short term. While its true that it may sound like
Savings, that is actually what is called planned spending. Why do we say so? Well
according to MoneySense.com saving only qualifies if you are storing up money in
the long term to have money for another chapter in your life. See the link here
http://www.moneysense.ca/save/what-is-saving/
• So it actually does make perfect sense doesn’t it? You are actually putting money
aside in order to take care of your needs in another phase of your life. In a sense, if
you are going to retire in 25 years, what do you do knowing fully well that during
your retirement years you wont be productive anymore? You put money aside to
take care of your needs after you leave the workforce. Easy? Well to be fair
especially to all those about to retire and haven’t even started saving yet, it is
actually far from easy.
4. ….Continued
• To start with, nobody really wants to save. I mean think of it this way, why
would anybody want to save at all when they know they can spend their
hard earned money today. A lot of us want to enjoy life today and that’s
what makes it really fun when you can actually spend your money while
you are still young and healthy. Why would anybody look forward to
growing old right? But reality stinks doesn’t it?
• We all have to embrace the fact that one day we are going to grow old and
we certainly will need to fall back to our bank account for money. Sad Eh
but true. In a nutshell, we all need to save money at some point in our
lives. Whatever reasons a person saves, saving continues to be a challenge
because there isn’t any money to save in the first place sometimes. With
the constant rise in the cost of living and low salaries, it does present a
challenge. Even people who have a good salary, they still need to maintain
their high lifestyle. Well, here are 10 tips you can do to make sure you
have something to save.
6. 1. Start Small
• Saving money is more like learning to ride a bike. No matter how
many times you fall down, there comes a time when you crack the
code of getting it right. The same goes with saving money out of the
Salary you have. You do not need to start big but you can always
commence saving by saving a few dollars every month in your bank
account. If you don’t prefer a bank account, try a piggy bank or
something similar. You can start with $50 then after some time; you
can bounce over to $100 until it becomes a good routine.
• When you do this, firstly you are giving yourself time to adjust to a
routine that will probably become easy to do as time goes on.
Secondly, starting small also lifts the burden off you making you
actually enjoy this routine until such time you really get to Love it to
the point of even saving more money.
7. 2. Cut Spending
• Sometimes putting aside money means you have to
sacrifice something else. There is one thing you have to
understand when it comes to saving, if you are going to
save money, that part would have to come from
somewhere and in most cases your own income.
Therefore, if one end of your income base is going to
suffer, then that would be a gain to your saving. But
look at the bright side, at least you know you are doing
the right thing. Imagine you are saving for your child’s
college education, wouldn’t it be a good thing to know
that your savings will certainly benefit your children?
That’s a question you have to think about.
8. 3. Exercise Self Discipline
• You can hide your money under the pillow, or put
it in a safe or even put it in a bank account but if
you are not self disciplined, that money could
disappear. As people who plan to save, when
money is put wherever, you need to fine-tune
your mind to refrain from ever even putting your
hands near it. It all starts from there. Self-
discipline is also required when you are actually
putting certain amounts of money aside as
savings. If your goal is to save $50/ month let it
be just that.
9. 4. Leave your Credit Card Home
• You know how easy it is to buy something you
want using your credit card? Yep! It is so easy.
Here is something you must always remember,
once you get into debt chances are, you are
going to fall onto your savings in order to
rectify that problem. So what’s the advice
here, if you are going shopping just carry the
cash you really need and leave the credit card
at home. Easier said than done but still needs
to happen.
10. 5. Strictly Follow Your Budget
• We all have a monthly budget right? If you don’t you
probably need one if you are going to make the saving a
success. A budget will always act as a guide when spending
that hard earned money. This is the kind of guide, which
must be followed, and if you notice you have over spent
during one month, you have to offset that deficit in the
next month. But whatever you do, never fall back on your
savings, that is purely a mistake, which some people make.
• If you are married, it does help to discuss your budget with
your spouse so that both of you can collectively have a say
on how expenses should be done.
11. 6. Caution when Borrowing
• While borrowing is not such a bad idea, when it
comes to the world of savings you have to
exercise caution. Remember that, whatever you
save is a sacrifice from part of your income. Now
imagine when you take a loan that becomes an
added sacrifice. It is true that we borrow for a
variety of reasons, but you have to make sure you
are borrowing for the right reasons. It is usually
advisable to borrow money when you really need
to compared to putting yourself in a
unredeemable situation whereby you only have
your savings to fall to in order to offset the loan.
12. 7.Grow your Savings
• Investing money is certainly a good option to grow your savings. Saving
money in a bank will attract some interest that sees your money multiply,
but there may be better options to. But the tricky part of investing money
into something while hoping to receive something in return is this, you can
never be certain if you will receive a return on your investment. Therefore
it always pays to exercise caution when planning an investment. I
personally wouldn’t recommend using your own savings for an investment
hoping that you will recover what you lost, but find money from other
sources in order multiply it further.
• But there are also online options too. I personally like the idea of earning
money online for a variety of reasons. Firstly, you can do it at home and
secondly, you don’t need a lot of investment attached especially if you are
a newbie. I would like you to watch this Free Video and once you are done
you can also download my Free Ebook “How to Earn money Online for the
first time” by filling in the form below.
• http://www.toptier4you.com/10-money-saving-tips/
13. 8. Always Check your Savings
• Constantly make regular checks on the
amount of savings you have. This really helps
in a lot of ways firstly; it renews your
determination to see your money grow.
Secondly, you will ensure that your cash is
actually there and nobody has actually
touched it at any point of time.
14. 9. Learn from Others
• Circumstances and situations differ from place
to place. Therefore, if you have a friend,
relative or anybody who is close to you and
shares the same challenges as you,…..you can
learn from them on how they save money.
Learning from others, may help you see things
in a whole different light. If you never thought
saving was possible, after learning from
somebody else that will actually give you the
motivation you need to save.
15. 10. Enjoy What you Do
• There is absolutely no point in getting into something if you
cant learns to enjoy it. Of course, you might argue that you
have to. Well, you may have a point but here is an example.
Imagine you were promoted at work as supervisor for a
section in your company. The job is really frustrating and
people know you hate it because it shows in your face. How
do you think subordinate employees will perform knowing
that their supervisor’s performance is also low? Don’t
expect them to do any better. But here’s the point, would it
make sense for the company to keep you as supervisor?
Therefore what was the point of accepting that
responsibility if you knew you wouldn’t enjoy it? Similarly,
why save if you wont enjoy it? You are likely to stop anyway.
