Todd Christensen Profile Picture
Staff Writer at Debt Reduction Services


Motivate yourself to save money by creating a strategy specific to your goals.

A Successful Savings Strategy is a Motivated Savings Strategy

Have you considered changing or creating some personal habits this year?  Hopefully, the development and implementation of an improved savings strategy are among your prioritized goals.  To encourage you to save money and live debt-free, we suggest the following steps that can motivate you to build your savings in the coming year.

How to Effectively Build Your Savings:

1. Set your eyes on the objective: Great personal finance always starts with some great goals.  When you’re setting your savings goals for the year, make them obtainable and current so that you can stay motivated.  Give yourself a little bit of instant gratification by setting a smaller goal for each month. Then move on to consider what you could accomplish in a year. After the short-term goals are in place, start thinking of your medium and long-term goals.

2. Divide and conquer: A method of setting up your savings that will keep you motivated (and actually excited) to save is to create categories.  Grab a piece of paper or create a spreadsheet with your chosen categories written across the top, such as vacation, Christmas, vehicle, household, and a DO NOT TOUCH. Each month split up your savings among your categories and after a few months, you will see progress in areas that actually mean something to you!  If you’re using a spreadsheet, it’s easy to project how long it will take you to save for a particular goal.  For example, “if I stick to my current savings habits, I’ll be able to take that vacation by the end of next year!”

3. Seize the day (or windfall): If you find change in the couch or in your dirty laundry, resist the temptation to blow it at the vending machine.  If you receive a tax refund or a rebate check, don’t spend them on toys. When you come across these little bonuses in life, place them in savings and decide which category you’d like them to go into.  You may have missed out on a short-lived pleasure, but you’ll know that you’re one step closer to that car, vacation, or home improvement.

The added benefit of setting savings goals is that even though you have divided your savings account among your categories, at the end of the day, it’s still your money.  If a disaster were to strike, you’ll have a lump sum that can be used however you deem necessary.  This system will, however, discourage spending your entire saving on one purchase or splurge.

Devote yourself to these tips and in no time you’ll be enjoying successful saving.

Best of luck on your journey to becoming financially stable!

Do You Have Questions About or Suggestions for Maintaining Motivated Savings?

Comment Below and We’ll Respond Quickly!

We frequently review our articles and blog posts for comments and make sure to respond fast.

If you need more information on staying motivated while saving or have any other questions about improving your personal finances, please feel free to comment below and we’ll answer as right away!

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