Saving up for the future can seem like an ordeal. We live in a society where we’re constantly being told that you only live once and that you should live in the now.
Saving up for the future can seem like an ordeal. We live in a society where we’re constantly being told that you only live once and that you should live in the now. Well, that’s all well and good, and enjoying yourself now is key to having a happy and fruitful life. But life isn’t always short, in fact, it can be around 90 years long. And what are you going to do if you get to a grand old age, and have nothing to support you? Follow these simple tips to put a bit of cash away for your future.How To Start Saving Up Some Of Your Salary For The Future #Click To Tweet
Decide what is essential
When it comes to saving, you have to cut out costs that aren’t essential. If you never eat at home and get yourself a Starbucks before work every day, then this could be the root of your problems. Get a thermal flask and take coffee to work, and learn how to cook at home to save a bit of cash. Stick to what you really need (although we won’t tell anyone if you treat yourself sometimes).
Start a pension scheme
Ok, starting a pension is probably at the back of your mind right now, especially if you’re in your 20s or 30s and you can’t picture your retirement just yet. But putting a bit of money away will really help you to live comfortably when you’re older. Your boss may have started a pension fund for you, but if you’re self-employed you can start your own low-fee pension with a Vanguard Solo 401k.
Start a savings account
Saving up for the future is a lot easier if you don’t try to keep the money you’re saving in your current account. If you see money in your bank account, it’s pretty natural to believe that spending it isn’t really a problem. Creating a different account, with a good level of interest, will help you to earn whilst you save and will ensure that you don’t spend your cash elsewhere. We all need a bit of help with self-control sometimes.
Most of your outgoings will likely be on new clothes, new furniture, or new phones and technology. We’re all guilty of this, but living on a budget means looking for cheaper options first. Browse sites such as eBay and Amazon before splashing out at the store. Visit thrift shops for clothes and furniture. You can find some really unique and high-quality pieces for your home and wardrobe, and it will help you to make the most out of your salary.
So, there are a few things to think about if you’d like to make your salary go further. Decide what costs are essential, and cut out the ones that you don’t really need. Think about starting a pension scheme or savings account to save up money for the future. Buy second-hand goods if you want to control the costs of your outgoings. Good luck with making your salary go the extra mile, and happy saving for the future!