Savings

Steps to help you save money

 

Savings is a family's security:

Focused on the "why" you want money and not "how to" get the money:

If you want to get more money you should think of a way to successfully get the profit. According to a study, a person who thinks about why he needs the money and has a certain goal like buying a house or getting married will find it easier to reach his goal. Unlike those who concentrate on how to get the money.

Studies have shown that focusing on the way to get the money can cause confusion and an inability to make the right decisions in order to implement the plans developed to

saving money.

Harness energy:

Whenever you feel the power in making financial decision is whenever you are able to save more money. Before you does any action during the day take few seconds thinking carefully whether you need this or not, and how

important is it.

Write down your goals 
Save money with love and happiness:

Instead of thinking about your goals, prioritize them and put them in writing. A study showed that people reach their goals 61% faster when they write them down. This will help you track the progress of your achievements and gives you motivation.

Deprivation, less spending and shortage are words nobody is happy to hear. But do you think that feeing bad about saving money is going to make you save faster?

Try to enjoy saving by setting a day every week or month to calculate the amount you saved and its profit. This will give you some sense of reassurance that you are on the right track.

Place a deadline to collect the money:

Talk about your goals with a friend or a family member; ask for their opinion and suggestions on how to save money to reach your target. This will help you in getting feedback on how to save money as well as a progress reminder.

Concentrate

It is important to focus on achieving each goal separately, focus on implementing the best plan to one goal rather than implementing all goals at the same time. You will find that you reached your goals faster when you prioritize them.

Saving according to your own circumstances

 

First thing you need to do is identify the status of your income in order to be able to determine the ability to savie. This will vary between one family to another since the expenses are different, therefore there is no fixed plan because it depends on psychological and social factors. 

The main reasons to save depends on the person's circumstances and goals, like job insecurity, starting new business, education  or retirement. 

You must also determine what kind of investor you are and your behavior toward money and your wellingness to take risks.

Controlling your money, knowing your family 's needs, your career status, and understanding your personality toward money are important factors that should be identified before you start saving.