We all want to save money. It’s natural, unless you have more money than sense, to want to make your money go as far as problem. There are a hundred ways to do this, and we’ve had a look at the issue in the past. But we felt it was time to revisit. So with that in mind, Moolr have taken a look at ways to save money.
Save what you can
You might think that saving what people perceive as a small amount such as £5 a week is not important, but it can be. Saving is easier said than done of course, especially when times are hard. But if you can put away a few pounds here and there, you will eventually build up a considerable pot. This could help deal with an emergency, or a treat such as a much-needed flight to warmer climes.
Standing orders
If you think that you cannot rely on yourself to send the money to your saving account regularly, set up a standing order. Set it up so that money automatically goes into the account at set times. I did this into a friend’s account, and built up a £2000 holiday fund, though it took a while. You may argue that you are poorer for doing this, but I honestly did not notice the odd £10 leaving my account. When the time came for a holiday of a lifetime, I could pay it all off from the fund.
Tell yourself you cannot use your emergency fund for something else
One of the most important things that you can do is that you cannot use your emergency fund for something else! Do not use it as a fall back for when you want something. It is not there for a treat – unless that is specifically why you initially set it up. You never know when you will need to use it.
By saving up an emergency fund, you take control of your finances. you provide to yourself the peace of mind that you have always sought. Commence building an emergency fund today, not just for your current needs, but for your future.
