Put Some Money Aside! Start Saving Today!

The ability to save money is based more on your habits, lifestyle and personality than on knowledge. You can have all the knowledge in the world, but if your habits or lifestyle is countering the goal of accumulating wealth, you will never have enough savings.

Almost every action we take – including those not immediately related to buying something – is based on whether we are likely to spend or save money. If you want to have enough savings in your bank account to cover any type of unforeseen event, then you need to change your way of thinking.

Ask yourself this question: Do you believe you have saved money when you bought the new shirt at 30% off?

The answer is: No, you didn’t save money, you spend less money. Did you needed that shirt? Did you buy that shirt because it was 30% off?

Sure, if you really needed that shirt then 30% off isn’t a bad deal. You are being financially savvy if you can buy something at a cheaper price than most people pay. But you have to realize, you are financially worse off, no matter what you have paid, because you now have less money. This is especially important if you are trying to get out of debt or are in your “infant years” of saving money.

Another example is the so called “Christmas savings plan” where you save money in order to save money for Christmas shopping. That is not a plan for saving—that is a plan for spending.

If you really want to save money you need to change your spending habits and lifestyle. Start incorporating saving money into your daily life. You need to start putting some money aside today!

Start saving money with the goal of accumulating wealth and achieving financial success. Don’t fall into the misconceptions of debt is good, stores sales that entice you to buy, buy, buy, or “save money, buy now” gimmicks, or the traps of “get rich quick” plans. Become financially savvy and start to think like a saver.