By Consolata Lukayu
Good savers start early,many good money savers we're taught as Children to sock a way for a rainy day, but even those who weren't have learned to jump on an opportunity.As soon as they see they have an option, like a retirement savings plan through work.Good savers don't procrastinate financial decisions;here are their saving habits;
1•Good savers have a retirement account_Its not new advice, that there's a reason every financial adviser repeat it.Because this is your future l'm taking about.A good rule is to put between 10 and 15 percent of your salary each month straight into a retirement account.
2•Good savers know the difference between wants and needs
Good savers actually write down a list of their basic needs their wants and their big wishes.
3• Good savers don't rely on auto pay_Autopay makes banking easier, lnfact, it makes it took easy for money to flow in and out without you really registering what's happening, whether its writing out a physical check or filling out the form online, intentionally paying your bills makes your brain note the expenditure.lf you do set up auto pay make sure you don't just set it and forget it.
Check the transactions at least once a month to make sure the charges are accurate and get a good sense of what you're spending.Good savers write all those transactions down in their budget.
4•Good savers have a budget
The first clue you have that someone has a problem with money is when they can't provide their monthly cash flow.You can't save if you don't even know how much money you have to begin with.
5• Good savers use cash or cheque_Those people who are good in saying often tend to use physical types of money.Researchers say that people can spend more money with credit cards versus paying with cash_If you're trying to save handing someone a wad of cash or writing out a cheque provides enough of a mental speed bump to slow down many lmpulse buying.
6• Good savers prioritize saving
One of the best money tips is simply making saving a priority in your life.Before spending on anything else, you should pay yourself first by putting savings into a retirement account or other self directed savings account.Make sure you avoid these retirement budget mistakes so you can have a stress free retirement.
7•Good savers keep track of the little things_Little things can add up to big expenses quickly often before you even realize what's happening.Good savers will write down,in their check ledger or budget, all their expenses, even the tiniest ones.Doing this can also help you track down hidden fees you had no idea you were paying.
8•Good savers look for deals,_Being frugal is a big part of saving money.And good savers are not too proud to use coupons,hunt down the best deal,or research all possible options before buying.
Good savers think through each purchase and research alternatives like used options compare competitor prices, look for coupons and read reviews in detail to make the best buying decision.
9• Good savers adjust for life changes,_Big life changes, like job layoffs divorces and illness inevitably affect our budgets.Good savers amend their spending to reflect their new earning or income status regardless of how painful it is to acknowledge.You can save money on everyday expenses.Thus enough for today about saving of money, thanks.
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