Personal savings are essential to ensure a comfortable future. When you speak of savings, however, it has to be remembered that they don’t bear dividends overnight. Starting the journey now no matter how small the money is, is important.
Here are 4 strategies to becoming a better money saver.
- Set a goal- studies show that people are more likely to save when they have a specific goal in mind, especially when the goal feels achievable. Have a specific goal to save towards.
- Automate and forget it – Automatically move money into a savings account to help nix the temptation to touch that money
- Accountability Partner – Find a partner who will call you out if you stray off the goal.
- Treat yo’self – Create a goodie category in your budget to splurge when you hit your target and achieve your goal.
You have nothing to lose by saving – and only a happier future to gain.
AUTHOR:
SheVestor Africa is a pan-African digital community that empowers young African women with financial knowledge to hone their financial skills. Our vision is to contribute to economic development by equipping young African women with financial knowledge and skills, connecting them with personal finance experts and becoming the #1 digi-sphere for financial resources, Inspiration and expert advice.
