Saving is one of the keys to a happy life unencumbered by debts and financial problems/emergencies. However, it can be difficult to save. Depending on your financial situation and lifestyle currently, you may have every intention of saving but end up with no money added to your savings account at the end of the month. Below, we’ll talk about what to do if you’re struggling to save.

Start Saving a Small Amount Each Week/Month

You don’t have to go gung-ho right away and save 50% of your income. You can start by saving a small amount each week/month, just to get you into the habit. How about saving the price of coffee a few times each week? This will add up over time and help you get into the habit without making a huge dent in your overall income.

Set up an Automatic Direct Debit

Set up an automatic direct debit so you don’t even have to think about your savings. If you have to physically transfer the cash, of course you’re going to be apprehensive. If you can set up a direct debit and just see it as one of your expenses, this is going to be much better for you and you’ll quickly see the money add up. You’re less likely to transfer the money to your savings than you are to take the savings out of your account once it’s there.

Be Specific About Your Goals

If you aren’t specific about your goals, where do you expect the momentum to come from to save? You need to know why you’re saving. Is there something you want to buy or do? Or do you simply have an idea of how you want the future to be? The more specific you can be, the better.

Find Ways to Cut Back on Your Expenses

Finding ways to cut back on your expenses will give you more money to save. It might not seem like much, but it’ll make a big difference in the long haul. You could look at different car insurances to see how much you could save, as well as different deals with utility bill suppliers. It shouldn’t be too difficult to do if you keep an eye on your expenses at all times.

Pay off Debts Before Saving

Although you want to save and you know you should, it’s better to pay off your debts first if you have them. If you’re putting money into savings and not paying off your debts, you’re going to have more to pay in the way of interest. Relax and pay off as much towards your debt as you can first. You may want to talk with a financial advisor if you need help. When you’re debt free, you can begin putting all of that money into your savings and investments.

Remember, looking at investments is extremely important, especially when you know you have a decent emergency fund saved. Savings will not make you wealthy, but investments will!