10 Money Saving Tips

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• 10 Money Saving Tips
• By
• Coach Alexander
• TopTier4You.Com

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Introduction

• Over the years, people have become more aware of
  the need to Save money. Money as we know it is
  today is pretty much very important and that is
  why we spend time and energy making ends meet in
  order to acquire that extra buck. For most people
  it is very difficult to earn money but yet, it is
  very easy to spend all of it or even lose it.
  Poor judgment coupled with error in thinking can
  lead to losses amounting to millions of dollars.
  We are not just saying this but we have facts to
  prove it.
• According to Business Insider it mentions 14 rich
  people who lost all their money within a short
  time (www.businessinsider.com.au/rich-people-who-l
  ost-their-money-2015-1). Hard to believe but its
  totally, totally true and it even gets more
  interesting, most of them we even know them. All
  of them famous and people well known across the
  world. But if there is anything I have come to
  learn in life, Money can disappear anytime if we
  do not use it the right way. But before we get
  into understanding the 10 ways you can save your
  Money, what is saving and why is it even
  important anyway?

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What is Saving?

• Most people would like to believe they have an
  accurate definition of the word savings. I
  actually thought so too until I did a bit of
  Googling on the Internet and found a spun of
  surprises. Most people when asked if they are
  saving, for those who actually say yes they are
  going to tell you that they are saving for a Car,
  a Vacation or anything in the short term. While
  its true that it may sound like Savings, that is
  actually what is called planned spending. Why do
  we say so? Well according to MoneySense.com
  saving only qualifies if you are storing up money
  in the long term to have money for another
  chapter in your life. See the link here
  http//www.moneysense.ca/save/what-is-saving/
• So it actually does make perfect sense doesnt
  it? You are actually putting money aside in order
  to take care of your needs in another phase of
  your life. In a sense, if you are going to retire
  in 25 years, what do you do knowing fully well
  that during your retirement years you wont be
  productive anymore? You put money aside to take
  care of your needs after you leave the workforce.
  Easy? Well to be fair especially to all those
  about to retire and havent even started saving
  yet, it is actually far from easy.

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.Continued

• To start with, nobody really wants to save. I
  mean think of it this way, why would anybody want
  to save at all when they know they can spend
  their hard earned money today. A lot of us want
  to enjoy life today and thats what makes it
  really fun when you can actually spend your money
  while you are still young and healthy. Why would
  anybody look forward to growing old right? But
  reality stinks doesnt it?
• We all have to embrace the fact that one day we
  are going to grow old and we certainly will need
  to fall back to our bank account for money. Sad
  Eh but true. In a nutshell, we all need to save
  money at some point in our lives. Whatever
  reasons a person saves, saving continues to be a
  challenge because there isnt any money to save
  in the first place sometimes. With the constant
  rise in the cost of living and low salaries, it
  does present a challenge. Even people who have a
  good salary, they still need to maintain their
  high lifestyle. Well, here are 10 tips you can do
  to make sure you have something to save.

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10 Tips to Saving Money
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1. Start Small

• Saving money is more like learning to ride a
  bike. No matter how many times you fall down,
  there comes a time when you crack the code of
  getting it right. The same goes with saving money
  out of the Salary you have. You do not need to
  start big but you can always commence saving by
  saving a few dollars every month in your bank
  account. If you dont prefer a bank account, try
  a piggy bank or something similar. You can start
  with 50 then after some time you can bounce
  over to 100 until it becomes a good routine.
• When you do this, firstly you are giving yourself
  time to adjust to a routine that will probably
  become easy to do as time goes on. Secondly,
  starting small also lifts the burden off you
  making you actually enjoy this routine until such
  time you really get to Love it to the point of
  even saving more money.

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2. Cut Spending

• Sometimes putting aside money means you have to
  sacrifice something else. There is one thing you
  have to understand when it comes to saving, if
  you are going to save money, that part would have
  to come from somewhere and in most cases your own
  income. Therefore, if one end of your income base
  is going to suffer, then that would be a gain to
  your saving. But look at the bright side, at
  least you know you are doing the right thing.
  Imagine you are saving for your childs college
  education, wouldnt it be a good thing to know
  that your savings will certainly benefit your
  children? Thats a question you have to think
  about.

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3. Exercise Self Discipline

• You can hide your money under the pillow, or put
  it in a safe or even put it in a bank account but
  if you are not self disciplined, that money could
  disappear. As people who plan to save, when money
  is put wherever, you need to fine-tune your mind
  to refrain from ever even putting your hands near
  it. It all starts from there. Self-discipline is
  also required when you are actually putting
  certain amounts of money aside as savings. If
  your goal is to save 50/ month let it be just
  that.

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4. Leave your Credit Card Home

• You know how easy it is to buy something you want
  using your credit card? Yep! It is so easy. Here
  is something you must always remember, once you
  get into debt chances are, you are going to fall
  onto your savings in order to rectify that
  problem. So whats the advice here, if you are
  going shopping just carry the cash you really
  need and leave the credit card at home. Easier
  said than done but still needs to happen.

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5. Strictly Follow Your Budget

• We all have a monthly budget right? If you dont
  you probably need one if you are going to make
  the saving a success. A budget will always act as
  a guide when spending that hard earned money.
  This is the kind of guide, which must be
  followed, and if you notice you have over spent
  during one month, you have to offset that deficit
  in the next month. But whatever you do, never
  fall back on your savings, that is purely a
  mistake, which some people make.
• If you are married, it does help to discuss your
  budget with your spouse so that both of you can
  collectively have a say on how expenses should be
  done.

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6. Caution when Borrowing

• While borrowing is not such a bad idea, when it
  comes to the world of savings you have to
  exercise caution. Remember that, whatever you
  save is a sacrifice from part of your income. Now
  imagine when you take a loan that becomes an
  added sacrifice. It is true that we borrow for a
  variety of reasons, but you have to make sure you
  are borrowing for the right reasons. It is
  usually advisable to borrow money when you really
  need to compared to putting yourself in a
  unredeemable situation whereby you only have your
  savings to fall to in order to offset the loan.

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7.Grow your Savings

• Investing money is certainly a good option to
  grow your savings. Saving money in a bank will
  attract some interest that sees your money
  multiply, but there may be better options to. But
  the tricky part of investing money into something
  while hoping to receive something in return is
  this, you can never be certain if you will
  receive a return on your investment. Therefore it
  always pays to exercise caution when planning an
  investment. I personally wouldnt recommend using
  your own savings for an investment hoping that
  you will recover what you lost, but find money
  from other sources in order multiply it further.
• But there are also online options too. I
  personally like the idea of earning money online
  for a variety of reasons. Firstly, you can do it
  at home and secondly, you dont need a lot of
  investment attached especially if you are a
  newbie. I would like you to watch this Free Video
  and once you are done you can also download my
  Free Ebook How to Earn money Online for the
  first time by filling in the form below.
• http//www.toptier4you.com/10-money-saving-tips/

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8. Always Check your Savings

• Constantly make regular checks on the amount of
  savings you have. This really helps in a lot of
  ways firstly it renews your determination to see
  your money grow. Secondly, you will ensure that
  your cash is actually there and nobody has
  actually touched it at any point of time.

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9. Learn from Others

• Circumstances and situations differ from place to
  place. Therefore, if you have a friend, relative
  or anybody who is close to you and shares the
  same challenges as you,..you can learn from them
  on how they save money. Learning from others, may
  help you see things in a whole different light.
  If you never thought saving was possible, after
  learning from somebody else that will actually
  give you the motivation you need to save.

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10. Enjoy What you Do

• There is absolutely no point in getting into
  something if you cant learns to enjoy it. Of
  course, you might argue that you have to. Well,
  you may have a point but here is an example.
  Imagine you were promoted at work as supervisor
  for a section in your company. The job is really
  frustrating and people know you hate it because
  it shows in your face. How do you think
  subordinate employees will perform knowing that
  their supervisors performance is also low? Dont
  expect them to do any better. But heres the
  point, would it make sense for the company to
  keep you as supervisor? Therefore what was the
  point of accepting that responsibility if you
  knew you wouldnt enjoy it? Similarly, why save
  if you wont enjoy it? You are likely to stop
  anyway.

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Thank You!A presentation by www.toptier4you.com