How To Save Effectively, You Won't Deep Hands Into Your Savings Again.

I bet you won't save a dime if you are not ready to plan.

Let's assume your monthly income is 30k and you want to be saving up to 20k every month, you must ask yourself the following question 👇

"What if I am not earning up to 30k?"

To save effectively, you must learn how to pretend on your income.

pretend that your income is what you have at hand aside what you have mapped out for saving.

Same Example Here;

If you are earnings 30k monthly, you can map out 20k for your savings and pretend that you just have 10k as a salary.

Now, here's where the maths comes in.

You have to plan your monthly budget by splitting that 10k into half which will give you 5k each.

Assume in your mind that an urgent matter arised and 5k was used to settle it, so now you have to consider that 5k gone by keeping it somewhere far from  you never to remember it.

What's left with you now?

5k right?

Now place your budget based on that 5k for the month and assumed that if that 5k is exhausted you are finished.

So plan your budget, if you are eating 3 times a day, reduce it to 2 times.

If you take transportation to short distance journeys, trek it.

Don't feel so low trekking, always remember you have a target, it will keep you motivated.

Keep in mind that your money is still there to speak for you because you are so much better than someone who treks due to being broke because of financial mismanagement.

Do you know why?

Let me give you a hint.

Imagine two men comes to a restaurant and they both call for their food.

Man Alpha  has Fried rice, chicken and bottles of bear all round the table with an account balance of $2500

While,

Man Beta  just have a bottle of water and a pack of pizza with an account balance of $70,000.

Who do you think is doing well, Man Alpha or Man Beta?

So don't feel degraded when you are doing some certain things to save money, you will reap your Target in future and enjoy more than the man who is recognized as wealthy but is about to go broke due to unnecessary spendings.

For you to save very well, your lifestyle has to change.

That perfume you normally buy and spray everyday should be suspended. 

The road side chips you used to buy should be averted, pretend like you didn't pass that way to see those chips.

Pretend like that perfume supplier ran out of stock and there's none to buy.

It's all about pretence.

To stamp your saving decision, you should learn to lock your funds. See how.

Pretending is not enough as human beings to hold you back from being tempted.

Therefore you have to take drastic decisions by locking your funds until a stipulated time of  choice to unlock it.

There are ways to lock your funds;

APPS

Mobile apps like cowrywise and co  are willing to lock your funds and won't release it until the agreed time is over, even if you are dying.

They rather use your savings to give you a befitting burial than release it before the agreed date 😅.

BANKS

In banks you can apply for a special savings account known as certificate of deposit (CD) where you can lock up your funds till the agreed date between you and your bank to release it.

It will help you because you are going to go through stress before releasing that money so when you think of that, you will relax.

A TRUSTED FRIEND

Find someone you can trust, a friend whom you know that can never run away with your money.

When I suggest your friend, you should know better. Not all friends are good friends, if you have unreasonable friends this option is not for you.

Give the money to your friend with strict warning to keep to the agreement.

"Don't give me that fucking cash until ___ day"

even if I am dying.....

I always use this word dying because it ends everything and that's the worst that can happen.

YOUR PARENTS

You don't need to tell me that you don't trust your parents when it comes to keeping money for you 😀.

I know all these already but actually it's another good idea to leave your funds with your mum or dad.

They are wise enough to know that it's only a reasonable child that will have the idea of saving money, therefore they should help out if they mean well for you and even add to what you are saving.