Save Me!! : Money.

As I Graduate this year from college, it’s going to get a whole new arena of working and earning money. No more asking parents for money for daily stuff. All your bills have to be paid by yourself. Troubled I asked my mum, how is it all possible? My mum said that once the paychecks start coming in, you start having to balance what is coming in and what is going out. Some things like electricity cost about the same each month, but then you learn to deal with things like car repairs and new computers.

There are applications for everything today, here is one of mine!

When starting a difficult task, it’s good to go all out for a while even if you run out of willpower eventually.

Have a ‘no-spending’ month. Even if you end up giving in at the end of the month, you’ll definitely save more than your usual monthly savings.

It’s important to see a direct connection between your actions and the results.

If you’ve managed to save 1000 a month, it should go in the bank. If you invest it and one day your 1,000 balance turns to 500, then it affects your emotions and motivation. You’ve just lost 5 months of hard work. With an interest-bearing savings account, the amount will always be higher than yesterday. These days it’s not much, but it’s still higher.

Routine makes everything easier. Make fewer decisions.

There should be no decision as in should I or should I not save money. It should be a compulsion that savings have to go in the bank. Even if you feel bad, it should happen.

Keep supportive friends.

Have friends who will help maintaining this habit of yours not who will feel you’re being a fool by saving your money. Many a times we give in to peer-pressure about money matters. Instead of being sorry later, be safe before. Just keep such friends at arm’s length.