How can you save more? It’s the million-dollar question. First – ask yourself why? Creating SMART goals, will help you visualise what your objectives are, your timeframes and your priorities. These are all important stepping stones to creating a successful savings strategy. Failing to address your goals, you’re likely to be easily distracted. Why would you even save if there is nothing to save for? Is your goal to travel? Reduce debt? Start a family? Whatever it is, write it down and look at it daily to keep your plan at the forefront of your mind.

How much can you realistically save? Look at your bank statements, credit card and any other outstanding debt payments to help build your budget and determine how much you can regularly set aside. Treat your savings like a bill that needs to be paid every month! If you are unsure how much to start with, appreciate starting somewhere is better than not at all. You can always tweak your savings habits once you are in tune with your cashflow.

Keep yourself disciplined! Set up a separate account and create automatic transfers from your everyday account to your savings account. Not having easy access to this money can help you fight temptations (like a debit card).

Better still redirect these savings into an investment vehicle which allows you to earn money on your savings!

Whatever strategy you adopt, remember to celebrate your achievements! Making saving fun will make you more committed to the process. Whether it’s a night at the movies, or that long holiday you’ve been saving for, do whatever helps you recognise the milestones you have been reaching!

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