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Getting the Saving Psyche

Contributor:
Ruth Brown
Ruth Brown

Saving money is a habit.   Breaking the habit of spending, or beginning the habit of saving is a bit like giving up smoking – not all ways work for all people, you need to find a way that works for you.  Here are some ways other people choose to save, that might help you get started.

Save a certain coin denomination: 
Choose a coin – fifty cents, one dollar, two dollars – and whenever you receive one in your change – keep it aside and save it.  You may be surprised just how much you will have saved at the end of 12 months.  Of course, You could always choose a lesser denomination, however, the savings would be a little slower in coming.

Power Free Days: 
Choose one day of the week (a weekday may be easier to begin with) where you turn off all the power in the house – besides your fridge and freezer of course.  So, no lights, no television, no computers, no appliances.   Eat a salad for dinner, read a book, play a game by candlelight – it’s a novel idea that not only helps save on your power bill but also forces you to look at alternatives.

Cold Turkey:  Just like smoking.  Choose a day of the week to make your No-Spend day, take your lunch to work, walk or catch a lift instead of paying for petrol or public transport.  A friend I used to work with never ever brought his wallet to work.  If he didn’t have it, he couldn’t spend it, simple as that (mind you, he never bought a raffle ticket or contributed to anyone’s going away present either!).

Finding what works for you and what keeps you in the correct frame of mind is the key.  When you find the right motivation you will be unstoppable.  So just like stopping smoking, if at first you don’t succeed, try another way.   Maybe someone should invent “spending patches” to help stop the urge to splurge!  (There you go, that’s a million dollar money making idea for free!)

How to save money and live more frugally

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