One of the biggest challenges that many people have is setting money aside in some sort of savings account. Getting motivated to save your money can be difficult — especially if you think that you don’t have enough income to set some of it aside. As you consider your financial situation, it is a good idea to make saving money a priority.

Ideas for Starting a Savings Habit

If you are having trouble developing a savings habit, you might need to make a plan to help you out. First, go through your spending and see where your money leaks. Plug those money leaks, and you will be able to find the money to accomplish other financial goals that you might have. If just making a plan isn’t enough to help you start a savings habit, here are a few more ideas that can help you kick start your savings efforts:

  • Start small: Realize that you don’t have to start big. Begin by setting aside $15 or $25 a week, then gradually increase the amount you set aside when you are comfortable with the habit. It can be encouraging to see your savings account grow, and that can be impetus enough to help you increase what you set aside.
  • Use spare change: Another way to boost your savings is to use spare change. At the end of each day, empty your change into a jar. Some people even go so far as to put any money denominated as a $1 (or even $5) into the jar. This can be a fun way to watch your money add up. If you don’t use cash, you can do something similar by rounding all of your transactions up to the nearest $1 or $5. Put the extra money into your savings account.
  • Out of sight, out of mind: Automate your savings by having the money come out of your paycheck before you even see it. Have money direct deposited into a savings account right from your paycheck, and you might be surprised at how fast it adds up with you leave it alone.
  • Have a goal: Plan a use for your money. Save up for a vacation, a night out on the town, or for some other purpose. Remind yourself of that purpose as you save your money. If your goal is retirement or an emergency fund, set benchmarks. Each time you reach a milestone, reward yourself with a small treat. It might be what keeps you going.

Miranda is a Freelance writer focusing on banking and personal finance.