Financial Tips To Save Money For Intending Money Savers

Saving a fraction of your daily, weekly, or monthly income for a particular purpose or on rainy days seems difficult to achieve especially for adults. This is because life happens to those in the working-class group: an urgent need arises, the desire to keep up with the joneses springs up, health challenges, urgent need, parental responsibilities, black tax, urgent bills to pay, etc. These are enough to make you struggle with saving a part of your income and the good news is that these easy money saving tips will help a lot.

The truth is, saving crosses the mind of those in the working-class group, they mull over the process of savings but the monster is in the “doing.” Like the maxim, “it’s easier said than done.”

Hence, I will be walking you through the result-oriented financial tips to save money, these tips will save you from wondering where your money went to. Let’s get started!

easy money saving tips
Piggy bank on stack of a pile of money isolated on a white background.

1. Have a crystal clear saving goal.

Understand where you want to be financially in a few months to come.

You could envisage having six figures in your account 12 months from now for business idea execution or to save you from struggling to settle bills as you move to another phase of life such as marriage, life after school, or retirement.

As touching this first tip, it is pertinent for you to set a SMART saving goal.

By SMART saving goal, I mean setting a saving goal that is Specific, Measurable, Achievable, Relevant, and Time-bound.

This SMART saving goal hack works. Allow me to carefully explain how the SMART saving goal works.

First, ensure your saving goal is specific, and know how much you desire to save.

For instance, you could desire to save #100, 000 within 6 months. Don’t just have a mere desire to save money instead have a specific amount in mind.

Set up criteria for measuring your saving goal.

These criteria could be in form of duration i.e months. Doing this will help you stay committed to notching your saving goal and on the other side, it helps you to review your progress when you don’t hit your goal.

The third letter which stands for achievable simply means setting a saving goal that is feasible or possible.

It will be impossible for an employee who earns less than #30, 000 per month to save 70 – 80% of his monthly income.

As a matter of fact, no financial planner will advise you to save that huge percent of your income because there are bills to be paid if not daily certainly monthly. Hence, stick to setting a doable saving goal.

Set a relevant saving goal. By this, I mean set a saving goal that will provide positive benefits to your present phase of life.

If you are in your early 20s, it’s still easy to save for your retirement.

Instead, you can save towards funding your business ideas, personal development, appearing nice, etc.

Finally, it is important to tie time to your saving goal. You most likely won’t see your saving goal come to fruition if you don’t tie time to it. Don’t do things haphazardly, set time to notch your saving goal.

2. Create a budget.

A budget is a plan that shows your income and the amount you will need to spend (expenses). To ditch your inability to save money, you need to write out how much you earn and track your spending for a month.

This report will cause an epiphany, it will help you see for yourself where your money goes, hence causing you to control your spending and putting a certain amount into your savings account.

3. Separate your need from your want.

Needs and wants are two different things.

Your needs are those things you cannot do without while your wants are those things that improve the quality of your life. You cannot live or function well without your needs.

Every man has 5 basic needs which are food, clothing, shelter, transportation, and health. Recognizing these needs will help you cut out nonessentials all to the end so that you save more money.

4. Automatic savings or withdrawals

I remember I was trying to familiarize myself with the features on my Zenith mobile app when I ran into the “Save 4 Me” service.

This works by you setting a specific amount to be withdrawn i.e saved for you from your bank account daily, weekly, or monthly depending on you.

This helps you overcome the temptation to spend unwisely in these days of copywriting gimmicks. You can also achieve this yourself by opening a savings account.

Once your monthly income drops, you immediately transfer a certain percentage to your savings account.

To be consistent with this, I advise you use an app called savings tracker, this reminds you of the set date you need to make the transfer and it also keeps a record of how much saved.

You can check out our review on piggyvest and cowrywise as they can help with your savings journey.

5. Negotiate your bills.

Negotiation is one of the best financial skills you should hone.

To achieve this, don’t be fixated. I believe you are not oblivious to the fact that prices of goods and services fluctuate.

It is a disservice if you instantly pay the initial amount a seller pegged on a product or service, ensure you negotiate prices.

There is no harm in trying to beat prices down, it works.

This skill in turn helps you to have more money to save.

Now, take a closer look at your internet data bills, cable subscription, and other things you can negotiate their prices.


With the carefully explained financial tips to save money, I know you would not agree more with me that your saving story will take a new turn upon application.

About the Author: CyberHope

Personal Blogger who loves playing around with gadgets and making reviews on them. Also, Hope is not left out in the online money-making world. He shares tips on how to make money online.

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