Most people living from paycheck to paycheck constantly encounter money glitches.

Once salary comes in, it goes into several things all at once. Bills and expenses lie in wait while savings are constantly on zero. Sometimes, you even spend the salary before it actually hits the account (i.e. buying things on credit to be paid off once salary comes).

What happens if that paycheck is suddenly delayed or you lose your job?

Of course, your finances will hit rock bottom in the blink of an eye! It is a huge financial disaster when an unexpected loss of income occurs and there isn’t enough money left.

In this article, we will show you 3 easy ways you can start saving today.

Do away with unhealthy habits

Some habits perpetually rub you off a lot of bucks that could have gone into savings and to think that most of these habits are actually unhealthy.

For example smoking, excessive alcohol intake, sweet tooth, driving three blocks to pick up something you could have just walked to get. Bet most people who have cars are guilty of the 4th example.  Why not walk instead? You will save money (fuel, wear-and-tear) and get a little exercise as well. Yes, we all have guilty pleasures, but cutting back on them can save you a lot of money. If you cannot get rid of them at least keep them to the minimum.

Reward Yourself

Once you receive your paycheck, shell out something for yourself first before taking care of bills and other expenses.

Not very many people do this, but it actually works. For example – If you earn 200,000 monthly, and you pay yourself 10 percent of this amount every month which is 20,000. At the end of the year, you will have a savings of 240,000. It might look like a waste of time because it is small, but in the end, you will be glad you actually did it.

There is no rule that states that you must pay yourself 10 percent. Feel free to adjust this as you see fit and also according to your income. If you have other sources of income asides from your salary, you can also apply this strategy to it.

Automate Your Savings

Open up a savings account with an automatic transfer. Every bank operates this system in Nigeria.  This is more like placing an instruction on your bank account to automatically move a certain amount of money to another account on a certain day/date continuously for a period of time.

Automating your savings enables you to send money to your savings account without having to touch it. You know, out of sight they say is out of mind. You will be less likely to spend it if it is out of your reach.

As soon as you start, never deviate from it. Once you miss one payment, chances are high that you will miss another. This could go on and on and you may end up without any savings at all.

Spend With Purpose

Be conscious of your spending and manage your expenses well. If your lifestyle makes you spend blindly, change it or adjust it to match your budget. Never live above your means.

Create a monthly budget that covers all your necessary expenses and stick to it.

Start saving NOW!