When people want to become financially stable, they focus on increasing their
And yes, increasing your
It’s good. But it’s not good enough!
Income alone won’t guarantee financial stability. Because if you don’t control your spending habits, it’s hard to save money and become a results-oriented saver.
And there are so many different ways you can save money.
But we humans tend to complicate things.
Becoming a results-oriented saver can change how you view and are motivated to save money. Because having goals makes saving money easier.
You know why you’re doing it.
So I’ve compiled a list of 10 tips to help you become a results-oriented saver.
1) Become a Results-Oriented Saver By Starting Early
It’s better to become a results-oriented saver by starting as early as possible.
Start now. And start where you’re at.
Even if it’s only $10 per week.
And if you think you don’t have enough money to start saving, educate yourself on savings. Then take action and start by recording and tracking all of your spendings.
It’ll help you understand where you’re money’s going. And over time reveal areas you can save money.
Plus, you want results. Starting early will give you peace of mind as you see your savings account grow.
$100 in your savings account is a good start. The get to $200, $500, $1,000 and so on.
Over time you CAN get to $10,000.
But if you never start and wait for a perfect time, you’ll never hit your savings goal. You can’t win a race if you never start running.
Achieving a long-term goal is also impossible if you never start.
2) Open an Emergency Fund Account
If you don’t have an emergency fund set one up.
Go online or to your nearest bank or credit union and start your emergency fund.
Once open, keep adding money to it. You want to work your way up to at least three months of savings. The money will gain interest in your savings account.
It won’t be much. But it’s something and it’s better than keeping money in some random place or around the house.
And watching it grow will also give you confidence so you can keep saving. Because without money in your emergency account, you’ll become limited to paycheck thinking.
Wondering when you’ll get paid again.
Only to spend the money as soon as you earn it. And if you live paycheck to paycheck you’re more likely to find yourself out of cash by the end of the month.
I’ve lived paycheck to paycheck for a while and I hated it.
3) Understand Investment Growth Strategies
Learn as much as you can about investment growth strategies.
Because when you become a results-oriented saver, you will also know how to invest and grow your savings.
And when your
Instead of spending, you’ll want to invest.
4) Make Becoming a Results-Oriented Saver Easier By Using Automation
If the government creates some new tax, you’re forced to change your lifestyle according to it. You have no choice.
And if your salary or pay was cut, you’d spend your month without much problem.
It’s because a small cut from the money will not cause trouble for you if you’re not intentionally spending it.
To become a result-oriented saver, you have to use automation tools.
Most employers can take a percentage of your salary and add it to your retirement funds.
If your company doesn’t provide this option, you can find a retirement plan that automatically deducts the payment from your salary. And when done you can adjust your lifestyle according to the remaining salary with ease.
Because you can control and should be in full command of your spending habits.
5) Don’t Underestimate Your Spare Change
When a person is result-oriented, he will think about and be intentional with any and all money. Yes, every single penny matters.
And most people spend their spare change without thinking.
The result-oriented person will not spend their spare change without thinking. It will grow over time.
And you can finance a vacation using your spare cash. So try keeping a spare cash box and add spare money into it when possible.
Note – It’s best to avoid checking the money in the box frequently.
When you check the money at the end of the year, it will surprise you.
6) Use a Reward-Based System
When you’re a result-oriented person, you should reward yourself for any and all the goals you accomplish.
If your goal is to save $10,000 in one year, you should make and celebrate small milestones of $1,000.
When you reach all the different milestones along the way, you should reward yourself.
And, most people think their reward is going to be a lavish dinner in a fancy restaurant. Don’t let that be you. Treat yourself to a nice meal at home.
Maybe a few adult beverages if that’s what you love.
But a result-oriented person trying to save $10k isn’t going to blow a bunch of money. Remember you have goals you wanna hit.
Instead, they’ll enjoy themselves and add a few extra dollars towards their savings goal.
7) Follow a Perfect Routine
If you have a random spending routine, you can never become a result-oriented saver.
You need to make saving your money your top priority. So, if you’re going out to eat at a fancy restaurant every week, reduce it to once every month.
And once you adjust your spending according to your savings plan, stick to the plan and follow that routine perfectly.
Doing something else or going against your plan once can lead to more slip-ups. It reduces your willpower slowly.
Because you think it’s okay to spend a little here and there.
But all that shit adds up. Switching up and spending when you should be saving can cause you to abandon your savings plan.
8) Set And Write Down Time-Based Goals
I’ve mentioned goals a few times already.
Because it’s only possible to become result-oriented when you have a deadline. Without a deadline, you can’t measure your results.
Deadlines keep you focused on the results. You can take a pen to paper and write deadlines for your savings goal.
You can write: I will have $100 dollars in my savings account at the end of this month. Then continue writing.
If you want to achieve something write it down. Set goals according to your saving habits.
9) Use a Simple Budgeting Plan
You can easily forget about the results you want when you start following complicated saving plans.
You might hear a lot of talk about portfolio diversification.
And many other complex terms. And yes, you should learn what these words mean. But there is no need to know it all right now when you’re a results-oriented saver.
Because if you can budget and keep your spending habits under control, and save a few hundred dollars, you can grow it.
And achieve your results.
10) Use Different Accounts to Become a Results-Oriented Saver
A person who is NOT a result-oriented saver can mistake using one bank account for every transaction.
You risk spending money you’re trying to save without even knowing it. And using one account for all of your
It’s best to use different bank accounts for different types of transactions. Keep separate savings account for the money you’re trying to save.
You can also open a different account for vacations, car
But it’s always better to have an emergency funds account separate from your everyday spending account.
Now go and save yourself some money!