Ways to make saving fun

As most of us have come to realize over recent years, saving money is something that is crucial to our financial wellbeing and helps to ensure that, even when the chips are down in the financial world, we still have a little nest egg at our disposal to help us get through the tough times. However, for most people, even from an early age, saving can feel like a difficult upward struggle and many people don’t feel motivated to save even when they know they should.

Whilst it can be difficult to find spare money to put aside into savings, every penny counts, which means that even if you can only afford to put aside a tiny amount each week or month it will all add up. There are ways to make saving more fun and make you feel more motivated about saving money, which can help to boost your chances of getting some cash put aside for emergencies, for a rainy day, or simply for peace of mind.

Treat yourself when you reach your goal: This can be a great way to motivate yourself. Make yourself a promise that whenever you reach a specific amount in your savings account you will take out a percentage of what you have saved and treat yourself. So, you could set your goal at £200 and once you have reached that £200 you could take out 20 percent and treat yourself to those new shoes or a night out.

Save for something specific: Many people book themselves a holiday and then start saving money so that by the time they go they have saved just enough to get by in terms of spending money. However, an alternative way of doing this is to start saving towards a holiday without actually booking your trip. Once you get close to the date you want to go, head to the last minute travel sites and find a great deal that costs less than you have actually saved. You then get to enjoy a bargain break and you are left with money in your savings account.

Become thrifty: For some people, just the challenge of trying to cut back on spending and being able to put money aside can be enough to motivate them. Take some time out to go through all of your outgoings, see where you can make savings by cutting out unnecessary purchases or switching services like energy provider and insurance provider, and see how much extra you have left each month to put into savings. You could be surprised at just how much you can save when you put your mind to it!

Alex is a financial journalist and occasional travel writer. He loves writing about fancy hotels and travelling business class but spends most of his days writing about mortgages, credit cards and pay day loans .