Let take the first step forward our financial freedom by saving now instead of waiting for disaster to happen. I’ve made a shortlist of many savings rules out to help you start your saving journey.

Goal setting

Set yourself a goal to work towards on monthly, yearly, etc that way it would be easier to stick too. That said all though sometimes sticking to them [as well all know emergencies happen] might not be easy so you must readjust. You also need to prioritize your goals there are short terms, medium and long term needs which are all important in their own ways.

The patient is the word

Saving a marathon not a sprint process meaning it will be painfully long but with great rewards at the end. In order for it to work for you, then you need to be realistic and be clear about your commitment.

Save for retirement

The most important saving requirement for everyone and the sooner you begin the better. If you put a small amount into the retirement saving account it all adds up. Even if you don’t have full-time work a tiny amount is all you need after all you can always increase later.

As the saying says time is money and you can’t rely solely on your pension fund the cost of living is increasing each year.

Example: I don’t have a full-time job I am a blogger and a freelancer my bank account comes with saving account link into it so I’m putting about $25 [±R300 in my currency] a month at the rate of 5%. The hope is if I put the same amount of money each month I would accumulate roughly about $12,000 [±R150,000] in 19 years when I’m 55.

Cost-cutting

Learn to cut costs as much as you can, there are always discounts and special offers. But before you can even go out to cut elsewhere you need to start at home by reducing your electricity and water usage [ you won’t believe how much you can save there alone].

Also, don’t pay for something you do not use, most people are using the cellphone’s so is there a need to pay for that land-line if it just sitting there?

No impulse buying

We are all guilty of impulse buying even those of us who preach the living frugality lifestyle. One and the easiest way of avoiding impulse buying by making a list of all you will need before heading to the shops.

Packing snacks and water or juice for the kids when you leave the house for shopping is another great way of minimizing the unbudgeted spending. I know of a woman who always has a case/bottle of water and biscuits in the boot of their car, kids always ask for a drink when there are out.

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