3 Ways To Painlessly Save Money Today

Self preservation is a common trait that every individual possesses. However, when it comes to saving money, self preservation more or less takes a back-seat. It is always worthwhile to have a considerable sum saved away for emergencies such as a broken down car, an emergency room visit or a sudden job loss.

But saving can be downright painful to some. Imagine this. You go to work for two weeks and end up with a butchered paycheck (after the tax man takes his cut). Add on top of that a stack of overdue bills waiting for you back home. Now you are being asked to put money away for a rainy day? Heck, it’s pouring right now already.

But listen (or read, as it were), you can still save money from every single paycheck without feeling the pinch all that bad. Here are three ways to do it.

1. Hide Your Money

Hey, if you can’t find it, you can’t spend it. The best way would be to sign up for a retirement plan at your place of work. In this way, your savings won’t be taxed and the money is automatically deducted from your paycheck and sent to your retirement plan. You could also hide your money by signing up for an automatic savings plan with your bank. When your paycheck comes in, part of the money is automatically transferred to your savings account.

2. Start Slowly

It’s difficult to save a lot of money all at once. If you can’t save 10% of your paycheck, then don’t. Start off by saving a measly little 1% of your income. Make it such a small amount that you can most definitely make it happen. Then, increase the amount you save after six months. This time, save 2% of your paycheck. By making small increases the pain of saving will be lessened. Another easy way to save money is to save all of your raise, if and when you receive one.

3. Use Cash

When we use credit cards (or even debit cards) we all tend to overspend. In order to be able to save more money you need to spend less. One way to do that is to withdraw cash from your bank (or ATM) once per month (or every paycheck if you want). This will be your spending limit. Now, make all of your purchases (food, gas, clothes) with only this cash. Don’t go spending all of this money at once though, as it’s going to be your budget. If you make sure to not go out carrying your credit cards, and only carrying cash, you most definitely won’t get yourself in debt.