Saving money is one of the smartest choices you should do if you want to feel safe in the future. The future is unpredictable, one moment you are employed, before you can be comfortable in your new job, you get fired. When you set some money aside, it will help you counteract such situation that you never see them coming.

However, the fluctuations in the global market and the current trends of inflation have made it tough for people to save money. Almost every month, there is a rise in price for one or two of your favorite products. Even though your paycheck may be fat, the economy is effortlessly slimming down your chances of saving money.

Luckily, if you adhere to the following 3 smart techniques, you will be able to save a fortune without stressing on other irrelevant factors.

  1. Have an objective

Apart from just planning for the unexpected, you should also set goals. The perfect criteria for setting your goals straight is using the S.M.A.R.T. (Specific Measurable Attainable Relevant and Time-bound) guidelines.

S.M.A.R.T. goals will give you the right kind of boost that will motivate you to be obliged to save. When you have a target that you are working towards achieving it, it also gives you a sense of purpose for your saving.

  1. Set a reasonable budget

A well-thought budget will help you direct funds to the suitable areas that are important. There are times you may not know where you spent your money. Well, a budget is a brilliant way of prioritizing your spending.

Now, this is the part where you will be cutting down on the unnecessary expenditure of your income. You can start by canceling out the subscriptions you don’t need, stop eating out and make sure you live a healthy life to avoid getting sick.

However, your budget should also not bring drastic changes to your lifestyle. For instance, if you can cut off your morning lattes and still feel no impact, that will be an excellent choice. But if you did rely on your latte to be productive at work, you should include it in your budget.

You should also consider using apps that will help you track your finances. Apps such as Mint, Learnvest, or BUDGT, have visual representations that will aid you to stick to the plan.

  1. Select a bank that cares for you

As long as the bank is keeping your money, they should offer you considerable rates for your saving interest. You should look for a bank that does not charge for almost every aspect of their services like the ATM and overdraft fees.

Since you have decided on the amount of money you will be saving from your paycheck, you can organize with the human resources from your company to send that portion to your saving account and the rest to your checking account. This way, you will avoid the risk of touching the money and be tempted to spend it.


Most young people like to live in the moment and presume that only old people should be saving money. On the contrary, the early you will start to save your money, the quicker you will recognize its significance in your life. Plus, these days there’s a million and one ways to make extra money. There is no right time to save money because you can start at any time.