Ways to Save Money, Even When It Feels Impossible

Get in the Right Mindset
Saving money is more than just a habitual practice—it’s a mindset. Saving money must be a lifestyle you’re completely committed to in order to be effective. So, the first step to saving money is making the decision to do so.

Start Small—Very Small
Saving money doesn’t have to mean putting 10% of every paycheck away. At first, save more like 2% or even just $20 per month. Start small, and work your way up. For weeks or months that you don’t spend quite as much, put a bit more in savings than you normally do. Just commit to saving something, no matter how small the amount.

Make It Automatic
Saving is easiest when it isn’t a conscious decision. Automatically transferring money into your savings account every time a paycheck is deposited takes the sting out of saving.

Keep Careful Track of Your Spending
How much you spend has a direct impact on how much you’ll be able to save. If you know you have some spending-problem areas, focus on reducing those however you can. The best way to spend less is to know where every dollar is going.

Cut a Few Expenses
As you start keeping better track of your spending, look for expenses that you may be able to do away with. Are you still paying for cable that you rarely watch or a magazine subscription that goes unread? Get creative, and know that you don’t have to give these things up forever.