Here are some tips on how you can get closer to your saving goals:

  1. Define your savings goal

The first step is to set a goal. How much do you need to save and when would you like to have saved it by? This will give you a timely savings target, which has to be realistic given your income and basic living requirements.

  1. Defining your daily budget

Track your daily spending and to find ways to cut costs in order to achieve your saving goals. You can download a savings tracker on your smartphone to help you keep track of your spending.  It will also help you to identify areas that you need to adjust in order to achieve the goals you have set. Once this is done, you can see the areas that require to be cut down. If you don’t have a smart phone, create a spreadsheet template on a computer and record your monthly spending habits.

  1. Find ways to cut on costs

i) Save on your grocery shopping:

Have a budget for home supplies and list down in detail how much this will cost. Practice discipline when shopping and religiously stick to your list.

ii) Look out for deals

Be a smart buyer  by always window shopping to ensure that you are getting the best possible deal. This is one way to cut down on expenses by boosting the collection in the savings jar. You can also keep an eye out for the sale corner in a supermarket or shopping mall. There will always be a discount and  items on offer.

ii) Avoid eating out

This doesn’t mean that you should never eat in a restaurant, just don’t make it a  habit. You can eat at a restaurant once every two weeks instead of every weekend and this will provide you with some extra cash.

Carry packed lunch to work. This will not only help you save, but it will also ensure that you eat healthy food.

It’s high time we got rid of the misconception that saving is only for people who earn a lot of money. The above tips can help you achieve your goals and to better your financial situation.