Wednesday, January 11, 2012

Control Your Money - Saving Money Takes Time


One of my problems with money is that I want to save a lot - all the time.  Unfortunately, life has taught me that it doesn't work like that.  For every person that touts getting rich by doing "this one simple thing", there are hundreds - if not thousands - that failed at the same thing.  What's the moral here?  Don't expect to grab a few tips on saving money and end up with piles of cash at the end of the month.  It takes time and the piles tend to be smaller than you imagine.

In fact, I would say that learning to effectively save money is like getting in shape.  In the beginning, it hurts a lot and you don't see much result from your effort.  The key to success is to stick with it.  You have to be frugal every day.  You have to be on the lookout for ways to economize.  As time passes, your dedication begins to pay off.  You start to see success.  Your debt starts shrinking faster.  Your savings slowly increases.  You don't stress so much about unexpected bills.  You start to feel more confident and have more self control.  You may never see piles of money but your healthy finances will be a blessing in your life.

The strategy that has worked best for me is to start really small - maybe only $5 to $10 per month.  Then, when you get a raise or some other addition to your income, add part of that to your savings amount.  This is a slow process but it hurts a lot less than trying to all of a sudden put a huge chunk of money into savings.  Slow and steady wins this race for me.

There are a myriad of good results from begin frugal and saving your money, but it's not a quick fix.  It may take years to really see the fruits of your labors but you will look back and be glad you put in the effort.

Remember, there are two kinds of people in the world.  People who spend more than they make and people who spend less than they make.  One of those kinds eventually becomes rich.

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