Good savers live below their means
Just because you have money to spend doesn’t mean you should spend it. Good savers know that living below their means can help them save more for the future. For instance, just because you can afford a new car doesn’t necessarily mean you should buy one. If your car is in good shape, use it for as long as you can. Another way to live below your means may be to downsize your home.
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Good savers start small
It can be easy to read lists of money-saving tips like this and feel completely overwhelmed and throw in the towel. But saving doesn’t have to be a huge change, Woroch says. “If you’re new to saving, start small. It’s easier to adapt to a small change than a complete life overhaul,” she explains. “So begin by automating a small amount each week and when you become accustomed to saving that amount and living off what you have left, increase it by a little. You’ll continue creating a better savings habit each time.”
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Source: RD.com
