Effective ways to save

A generation ago, saving was something very popular amongst people who had regular jobs. In fact, no matter how little they earned, a portion of their wages would go to savings. This seems to be something that has become far less popular, especially in the past two decades.

Savings, however, definitely has its advantages. And it need not be the physical act of putting money into a tin for a rainy day. There are many ways that you can save, freeing up money for emergencies. Let’s have a look at a few basic saving ideas.


Budgets are often the best way to start saving. By making a budget, you know where every bit of hard earned cash is going. It is imperative to make sure that the budget is realistic. A budget that needs to be stretched beyond reason is bound to fail. Start small as well, as a budget is something that you will refine over time.

Consider a cash allowance

In conjunction with a proper budget, consider giving yourself a weekly cash allowance to live off. Make this realistic, however. This not only can help save money in the long run, but is a great way to keep track of spending patterns. Too often, we pay for things electronically. This does not give the feel of money actually leaving our wallet. A cash allowance can help you spend less.

Money Diary

Although this is often a very tough step to follow, a money diary is a great way to see where you spend your salary. Take the time to write down everything you spend money on. In a matter of days, you will see where you are wasting your money that in turn could be saved for a rainy day.


Be sure to compare all your expenses to see if you are getting the best deal. For example, you may have been with your insurance company for 10 years, but they might be 20% more expensive than the competition. So whenever you need to renew something, don’t just go ahead and do it but do a little research first.


We all like to wear the newest clothing and the latest brands, but these things cost a lot of money. Instead of only buying branded clothing, buy from your local department store. Not only will they have the same fashion in stock (without the name of course), but it will be much cheaper than the branded variety. This tip for clothes, food and other items as well.


Materialism has certainly taken hold of most of us. ‘Keeping up with the Jones’ is something we all strive for. In fact, if we see an item we want, we go out of our way to get it, no matter if we have the cash or not. Often, these items are used for a little bit and discarded into a cupboard or drawer somewhere. Although it can be difficult, holding back from buying everything we want and rather putting that money into savings can go a long way to helping improve your financial future.

Change your shopping habits

By starting to shop once a week, you can help to not only control your budget more, but it certainly leads to less waste. Although this is true for people who shop for groceries monthly, it can also help those who buy food daily.

Supermarkets love those who buy their lunches daily. Often, when you enter the supermarket you are already hungry, buying food on impulse and normally far more than necessary. By shopping weekly and preparing your own meals, you are not only going to save money but get healthier in the process.