Modern ways of saving money:

Modern ways of saving money: 4 tricks that can make you

rich

Saving has always been a way of life for people who believed

on its power. These people know that they have to save more

money in order to create a more established future.

However, as time goes by, more and more people find it hard

to save money. They contend that saving is no longer a way of

life but a resolution that they have to strictly adhere to just to

salt away some amount of money.

Some people even insist that it is no longer possible for a

person to save more money because most of them are already

living paycheck to paycheck. With all the high-prices of

commodities these days, saving more money is no longer workable.

But the point is that people can indeed save more.

How? Here is a list of some modern ways that will let you save more money:

1. Save some percentage from your salary

Most money-savers automatically take at least 30% from their salary and save them into

their savings account. The basic concept here is that most of us spend whatever amount

we have on our paycheck, and maybe even more. If you are able to limit that amount, your

expenses will unexplainably get smaller.

2. Pay everything in cash

Credit cards had always been a way of life for most consumers. The problem is that they

become so comfortable with it that they tend to spend everything on credit. In fact,

statistics show that the average family has an average outstanding balance on their credit

cards amounting to $7,000. And they even pay almost $1,000 in each year just on the

interest charges alone.

Hence, because of this comfortable shopping, they forget to keep track of their expenses

and accumulate more payables than what they can afford to pay.

3. Set goals

Create goals that you really want and not be fickle-minded about it. If there’s a certain

amount involved, be specific with the amount, like saying “I will save $5,000 in a year and

not around $5,000.”

Try to set your goals based on your priorities. Have a period for every goal.

4. Check your company’s retirement plan

With your employer plan such as the 401(k) or the 403(b), you can definitely save more

money for the future. Here, your company will deduct a percentage of your salary from

each paycheck and invest the amount in your choice of instruments—mainly mutual funds.

The bottom line is that saving is not just a way of life or a resolution. It’s the ultimate

gratification that you get as a fruit of your labor.