One of the key aspects of a good financial future is saving. However, we are all aware of the fact that saving is often not a fun process. Saving tends to be cumbersome and elusive as compared to spending money which generally results in instantaneous pleasure in the form of new clothes or delectable cuisines. If we are able to find different ways that offer encouraging feedback and noticeable improvement towards saving money, then it can go a long way in helping us save easily and more joyously.
Listed below are some different ways that can help you save money in a fun way.
- Start small: You can begin by saving $1 on the first week. The second week you can save 2 dollars. You can add a dollar each week, thereby saving an extra dollar with each passing week. This will not cause a lot of stress and will easily result in savings of nearly $1200 the first year. You may automate such savings so as to avoid missing out on saving any week of the year.
- Challenge to live a minimal life: Make a challenge to yourself to live a minimalist life for a month or two. Then increase the period of that challenge every month. Buy only the things that you need the most and verify the amount of money that you save each year by living such a simple life. You may also check out the local area for free entertainment activities to avoid missing out on the joyful aspects of life. This method can help cut down on unwanted expenses and help save a lot of money.
- Play a financial game with friends: There may be many of your friends who are also unable to save money as they find the process boring. You can enter into a savings game with your friends. This will incentivize you to keep saving as well as help your friends towards creating a better financial future. The person who saves the most at the end of the game period can be awarded some kind of gift or trophy.
- Challenge the way you do daily routine: In case living a minimalist life sounds too dramatic, then you can create a new challenge each month to save money. For example, the first challenge can be ‘packing your lunch’ instead of eating out. After the first month, check the amount of money that you save. Next month, in addition to packing your lunch you may go for a car pool with friends or colleagues to save on gas money. Continue adding new fun challenges each month. At the end of the year you will be able to find out the challenges which help save the most money. You can then continue the top 5 (or more) money saving challenges the next year to keep saving money.
Make a budget: This is one of the oldest ways to save money. You can write down the income, expenses, etc. that you think occur each week or month and accordingly prepare a budget.