earn&spend, investment, money
comments 6

How to Begin Saving Money

I love investments and I consider myself lucky to find pleasure in it.

It’s funny when my boyfriend Robin tries to make heads or tails of all the “financial stuff” I talk about. But at least I know he’s a good listener. The other day he asked me about investment opportunities and how to save to invest.

Unfortunately, the  Millennial or Generation Y (Robin and I are contemporaries) framework of spending behaviour  leads us down a path of over consuming and spending money that didn’t exist.

So, to spend less we need to change our life-style from consumers to…. something else. We need to change our routines and habits, and that’s the difficult part.

The most over-consumed products for young professionals living in cities are clothing and restaurant food (Read more about other most popular spending accounts here). So, changing our life-style and spending habits means buying less of both.

But, be prepared to feel a strong sense of emptiness. The power of spending is strong and when it disappears, desolation takes over. Get creative and fill that void with something that has no financial cost—and save!

Here’s a few ways how to begin saving money


  • Have an object of desire! This really helped me! I was far from good at saving cash, until I created an object of desire. For me, the object was an apartment. Basically, I went to a builder and booked an apartment in one of their future apartment projects. I chose a design and in eight months I needed to come up with 15 000 USD, and the following year, 20 000 USD. It was a big challenge, but I was motivated. And did it! For you it could be something else like college or a trip round the world…Put-Your-Plan-Into-Action
  • Make a plan! Without one, you will be lost and fail. Know exactly how much you can survive on. Obviously you need to pay your rent, telephone and transportation costs. You need to eat too, but I guarantee your food and eating out account account can be adjusted. Read more about spending habits in change.  And put plan into action!
  • Pay yourself first! On payday, before paying your bills, transfer what you can afford to a separate account, at a separate bank and forget that you have that account until next payday when you make another deposit. Make this transaction to be automatically every month. 

I guarantee you an interesting and exciting experience. Sometimes the ability to get whatever we want distorts the real value of things.

By saving for the things you want, and not spending on things you don’t need, you will appreciate life more. For example, dining-out with friends and shopping will be appreciated instead of routine. And you will no longer be a slave to impulsive buying…


Leave a Reply

Your email address will not be published. Required fields are marked *