Happy Saver: 5 Ways to Enjoy Saving Money

We get it – saving can be challenging, sometimes too difficult. The conflict between saving and spending is almost always there, especially today when temptations are all around us. It is further intensified by the idea that we have to make the most of the now, but at the same time, not wanting to be unsecured for the future once you retire.

So how can you beat the difficulties of saving? Here are 5 ways to enjoy while you are saving money.

  1. Set goals.

One of the best ways to keep you on the right track is to remind yourself of your main goal. This is because our goals serve as our motivation to face the difficulties along the way. Why did you spend all those hours in studying a subject you did not like back in high school or college?

Because you had a goal to pass that subject in order to achieve your main goal of finishing your studies. Why not use the same strategy when it comes to saving? Ask yourself: Why am I saving?

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While most of us save so we are secured for when we retire, many actually find it hard to imagine themselves getting old, settling down, and retiring. That is why, it might be helpful to set mini goals for yourself that serve as milestones towards your big goal.

These goals can be as small as not going shopping for clothes for this month, not going beyond a certain amount of money before you go out, or reaching a certain amount of savings given a deadline. Small goals are easier to remember and hold on to, and the feeling of accomplishing goals is fulfilling and motivating, no matter how small it may be.

Take advantage of this and start writing your list now.

  1. Reward yourself from time to time.

To intensify your motivation and the feeling of fulfillment after achieving your mini goals, it is also a good idea to reward yourself sometimes. Yes, it’s wrong to overindulge, but it’s also wrong to deprive yourself. When we do not reward ourselves when it is due, we feel depleted and unmotivated.

We get easily tired of what you are doing. Self-deprivation does not provide a good state of mind to work and to form good habits.

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To give something, especially when it is due, is not selfish; it is just right. In fact, it’s basic psychology, specifically classical conditioning. When you condition yourself to get something you want after exerting hard work, working hard eventually becomes a habit.

So, go ahead and indulge your whims from time to time. Make such rewards a constant reminder that hard work pays off. Just make sure not to overdo it and that you stay on budget.

  1. Use an app.

One thing that makes it difficult to save is the budgeting part. However, budgeting is one of the most important things you always have to do if you want to save a significant amount. When you don’t, you end up spending on unnecessary things which will leave you wondering in the end: “where did all my money go?”

The good news is, these days, you do not have to use the pen, paper, and calculator in order to budget properly. Technology has made things much easier and faster for us. Why not take advantage of it when it comes to saving?

There are actually a lot of apps that can help you in your budgeting needs. What is even better is that many of them you can download for free. With a few taps, you can have an organized budget list.

Just make sure to regularly update it and put all that needs to be put – your income, expenses, etc. – and you are good to go! With such apps, you can now see where all your money went with a few taps.

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  1. When you can DIY (do-it-yourself), go for it.

If you are the artsy kind who likes to try different things, you can add more to your savings by going DIY instead of buying stuff. Don’t have enough cups? Don’t throw out those mayonnaise bottles; use those mason jars instead. Think your apartment looks too simple?

Why buy a painting or decorations when you can make one yourself? What’s great about DIY is how you can customize things according to how you want them to be. The possibilities are endless.

So go ahead; visit Pinterest and look for the next DIY project you will be working on.

  1. Get organized.

If you are the kind of person who likes making use of planners and all that organizing things, use this quality to your advantage.

Instead of writing boring budget plans in plain white paper, why not spice it up like making a colorful planner or journals where you can list your goals, expenses, and other financial matters.

This way, you will be doing something you love while at the same time, doing yourself a favor.

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C.E.O @ The New Savvy
Anna Haotanto is passionate about finance, education, women empowerment and children’s issues. Anna has been featured in CNBC, Forbes, The Straits Times, Business Insider, INC and The Peak Singapore. She was nominated and selected for FORTUNE Most Powerful Women conference in 2016 (Asia) and 2015 (San Francisco, Next Gen). Anna has 10 years of experience in the financial sector and is currently a Director in Tera Capital. Her previous work experience includes positions at Citigroup, United Overseas Bank, a regional role in Business Monitor and a boutique private equity firm based in Shanghai. She graduated from Singapore Management University (Finance and Quantitative Finance).