Having a healthy bank balance is one of these easiest ways to remove unnecessary stress from your life and can provide you with financial freedom. However, becoming a good saver is easier said than done for most people, which is why we are providing you with our top money saving motivation tips to keep you on track and saving cash.

Create a Spreadsheet

When you are trying to work out your monthly budget in your head, this is when things quickly become too complicated and you can easily lose track of your finances. A spreadsheet is the perfect place to tally up all your outgoings and it will do the sums for you. You can then assess what areas you are perhaps spending too much on and see where you can cut back to put more money towards savings.

assess what areas you are perhaps spending too much on and see where you can cut back to put more money towards savings.

Open a Separate Bank Account

Another mistake that many people make when they are trying to find the motivation to save is not having separate bank accounts. You should have your current account and then a few savings accounts where you can store money away for a rainy day. Having your savings in a separate account will mean that you are less likely to touch it and seeing it grow will also provide you with the motivation that you need to carry on saving, rather than occidentally spending it from your current account every month.

Be Strategic When You Shop

One of the biggest downfalls for people trying to save is that they tend to ruin their hard work by shopping when they are feeling emotional or grocery shopping when they are hungry. We’ve all been there where we are feeling a little down in the dumps and decide to treat ourselves to a new item of clothing, however, each time you do this you are setting yourself up for failure when it comes to your finances. While this purchase may initially leave you feeling better, this will quickly wear off and you will ultimately feel worse when you see the damage done to your bank account. It is also important to make sure that you only do your grocery shopping when you are in a good mood and not ‘hangry’, as this usually leads to unnecessary purchases that will cost you a lot more money.

While purchases may initially leave you feeling better, this will quickly wear off!

Don’t Forget to Treat Yourself

While it is important not to treat yourself every time you are feeling a little down, this doesn’t mean that you cannot treat yourself at all. If you are always saving money, this can sometimes have the opposite effect and make you splurge. We would instead advise that you treat yourself when you have reached specific markers in your goals. Outline what these are and then when you achieve them, save up and treat yourself to that purchase that you want. Just remember to make sure that you save for this purchase and don’t put it on a credit card.