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Secrets to saving money

By Chinkee Tan

Saving is always a good idea but it’s not always a walk in the park.

Most of the time, saving can become one of the most challenging things you can do in your life. Many people are in love with the idea of saving but sadly, are unable to make the idea a reality.

You may have read tips and secrets on how to effectively save but would you believe if I told you that there are secrets to successfully saving your money?

And that the fact of the matter is, they are no longer secrets. Chances are you’ve probably come across them one way or another. Every time I read articles about tips on saving, these three are almost always present and are always branded as “secrets.”

Let’s see if they appear familiar to you and whether you decide to use them this time, or not.

Make a budget

According to John C. Maxwell, “a budget is telling your money where to go instead of wondering where it went.”

Budgeting is being likened to a navigation device where you are the one in charge. So before you even desire to start saving, you first need to know where your money is going.

When you budget, you get a clearer picture of your financial status: Either you get extra money or you need to cut back on some of your expenses because your money is not enough.

Spend within your limit

First, you need to understand that spending within your limit is one of the basics of saving – if you cannot spend within your limit, you simply cannot save. It’s actually simple logic too: How can you set aside money when you do not have it?

This perhaps is one of the most challenging parts of saving because there is always the tendency to over-spend and under-save and both can be corrected when you spend within your limit.

Pay yourself first through saving

For as long as you are earning, consider this as something effective when it comes to saving. Most common scenario is when you receive your paycheck: So you start sorting out your payables and you only save what’s left of the money, right?

This is a practice that you need to drop if you want to save effectively. The money that you decide to save should be considered as part of the payables which means savings must also be part of the budget.


Do you like the idea of saving? Why do you want to save? What are the things that are hindering you from doing these three secrets of saving? What do you think are the possible solutions to these hindrances?