Work. Save. Spend. Live life. A sequence we all wish we can make true. We tend to feel we live to work, and we work to pay our bills, fill the house with groceries, educate our children, pay our rent, etc… The list goes on; leaving you no room to spend money on that watch you’ve been wanting, or those gorgeous shoes you’ve been window shopping, or that trip you’ve been planning to take. But it’s all possible.


If you’re not the investor type who the idea of stock markets and bond investment does not make sense to you, do not fear. Sometimes a basic primitive method is quite efficient if you give it a little time to run its course.


You don’t have to be employed to start saving. Allowances make a great start to your future savings (That first X amount you saved the first time will give you a sense of satisfaction and achievement!). Here are some basic measures to help you save:

1-      Make a list of all your expenses. (Yes, it does not start with money!) Having listed down all your regular expenses helps you to track your expenditure and make sure all the necessary payments are taken care of.


2-      Prepare another list with what you wish to save for. Organize a pocket folder, or even separate in envelopes, with a section for each item. A car, trip, retirement, etc… Determine then what amount you wish to put in every month for that item.


3-      Employees, open up a savings account. Aside from your current bank account, open a savings account where the bank will have X amount transferred from your current and deposited into your savings account on a set date of every month, say the 30th. (This is an account where you cannot withdraw from or use by the means of a card)


4-      Allowance? Go old school; Fill up that piggy bank. (Do not be tempted to break it!) Make your piggy bank your savings account.


5-      Always account for 20% of your income source to be saved monthly. Whatever amount you make or receive, make sure that at least 20% get saved where you don’t use. (There shouldn’t be any purpose for this amount).


6-      Fill up your pocket folder or envelopes. With the amounts you determined for each item, distribute them.


7-      Set aside your current expenses money. Either pull out the amount or make the payments if possible. Setting aside some “emergency” money can come in handy sometimes.


The important thing to remember about saving, is to forget. The trick is to not think of the amounts that are being saved. It’s best to live through the month with the remaining amount after all distributions. You’ll be surprised with what you can do with the remaining to enjoy your time!


If you have a little more cash you can afford to save, you may want to try the following:


  • The Jar of Future Fortune

Every day put in One dollar in a jar. The 2nd day you put in Two. And so on. By the end of a few months, well, you do the math! You’re in for a surprise!


  • Collective Social Savings

Engage in a group or trusted people/family/friends to collect together an X amount from each, and every month one person gets the full amount. For example, say you are 5 people that each contributed with 500 dollars every month. This means every month one person gets the full 2,500; in other words every 5 month rotation you get 2,500. The length of time and amount varies with the number of contributors and amount contributed.


You can always afford the joys of life. And remember, money doesn’t grow on trees, but you can grow it in your bank account or in your own home.