Simple Steps to Start Saving Money
Any age! When you start to work and earn money for yourself, whether it’s being paid for chores at age 5 or entering the workforce after college, at age 25. Saving money is a wise financial practice at any age.
Yes! Start out by establishing short term goals. Over a period of time you will start seeing a difference.
Being committed to saving money requires tremendous discipline. At times, you may find yourself falling into the trap of spending an extra $5 here, or $13 there, thinking, “It’s not that much. I’ll never miss it.” Depending upon your age, this could be a huge mistake. One of the cornerstones of saving money is understanding the time value of money – that is, the concept that $1 today is more valuable than $1 a year from now.
The Key to Saving Money is to Pay Yourself First
The single best way to begin saving money is to use a technique called pay yourself first. It has been proven time and time again to cause people to change their behavior, and is probably the single most important money saving tip that’s ever been developed.