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The recent economic downturn and banking mess has revealed something startling. Most Americans only have money in their homes and nothing beyond that. This lack of saving is a recipe for disaster as we grow older. So, why is saving so difficult for us? Well, you can blame it on a culture that thrives upon spending or you can blame it upon yourself. There is plenty of blame to go around for both. Either way, there is a simple way to save your money. Setting goals sounds fairly goofy sometimes, but it is a vital step when it comes to saving money. Being generally frugal is difficult. Saving for a specific purpose, however, is pretty easy. Make sure to set some specific goals and things will go easier. Saving small amounts each month is not a useless endeavor. Time is valuable. It adds up over time. Save just $50 a week and you have more than $2,000 at the end of the year. What could you do with that money? Start saving a small amount of money per week, month, or paycheck. Since you have already figured out how much you need to save, you can now start to figure out how much to put aside every month. When it comes to saving, try to save the same amount every month in order to get into a saving rhythm. As you work through your savings plan, write down everything that you spend. This way you can keep track of your spending habits. If you see that you are spending too much money in one area, see whether or not you can cut back on that spending habit. Pay attention to the routine expenditures you have that are not really necessary. Hit Starbucks every morning? At $4 a pop, that is $80 a month. How about lunch time expenditures? Buy DVDs? Why not rent them? You can really cut costs if you just try. Once you start trying to save money, there can be a tendency to overdue it. The goal is to save money, not become offensively cheap. Set aside some splurge money, but do not spend more than that. We are a society of debtors. Everyone seems to be up to their eyes in debt. It is incredibly stressful, so why do it? Cut your expenses. Save some money. Pay off your debts and be truly free. No credit card company should every have authority over you.
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