6 Stress-Free Tips to Save Money for The Future

If you're like most people, saving money is a challenge. But it can be a lot easier to start building up your savings when you make a plan and follow through with it. In this article, we'll review some tips that will help you reach your savings goals by thinking about how to make extra income and save more automatically so that you don't miss out on opportunities for growth or better deals down the line.

Make extra income

To save money, you've got to make more. You can learn how to get money fast. That said, there are a number of ways to do this without quitting your day job.

• Get a second job or side hustle

You can easily make extra money by picking up another shift or two at your current job. Or, if you're looking for something less time-consuming than that, consider starting a part-time business on the side - such as babysitting or tutoring - in order to earn some cash while still working full-time elsewhere. Make sure that whatever you choose doesn't negatively impact your health (or the health of others) though.

• Make money online

If you're looking for something more substantial (and more flexible), consider selling products online through websites like Etsy and eBay or even selling other people's goods on consignment via sites like Poshmark and Tradesy. This is especially good if you have an area of expertise that could be useful for companies that post freelance jobs on sites like Upwork or Fiverr.

• Sell stuff

Don't be afraid of getting rid of items that are no longer serving their purpose in our home; instead, take advantage of opportunities when they arise by selling them on Craigslist, Kijiji, Facebook Marketplace etc. You have to make sure everything is priced fairly before putting it up there first though so people don't take advantage later down the road when prices go up due too many others finding out about what type of items were being sold beforehand.

Make it easy to save money automatically

The best way to ensure that you’re saving regularly is to automate your savings. You can set up an automatic transfer between accounts or establish a standing order (also known as direct debit) with your bank so that funds are transferred on a regular basis. This way, you won’t have to remember how much money should be going into your savings account each month—it will just happen automatically, making it easier for you not only now but in the future when you need access to those funds.

Think about what you're really using

If you're trying to find ways to save money, the first thing you should do is consider what you're actually using. You don't need a car if it's only going to be used by one person (or two, but that's pushing it). If everyone in your household has their own laptop and phone, why would they need another one?

If something isn't useful enough for me to use every day, then I don't really need it. For example, if I'm going on vacation once a year and my old tablet work just fine for surfing the internet until then, I don't really have any reason to upgrade right now.

Make sure you're getting good deals

While it's important to save money, it's also important to be careful about how much you spend. This holds true for anything from groceries to clothing and other bills. Learn what a good deal is and make sure you are getting one when shopping.

Start saving while you're still young

A typical retirement savings plan involves a regular contribution of some amount. For example, you might contribute $100 to your retirement account every month or pay yourself $200 before going out for dinner every Friday night. Whatever the case may be, it's important to start saving as early in life as possible because compound interest works best when there's time for it to do so.

If you're young and just starting out with your career, try contributing at least 10% of your income into an investment account (preferably one that has low fees). That way, by the time retirement, comes around, you'll have a sizeable nest egg ready and waiting for you to enjoy the rest of your life without worrying about money woes.

Consider your health care costs

When you're trying to save money for the future, you need to be sure you're getting the most out of your healthcare dollars. With a little research and planning, you can make sure that every time you visit the doctor or fill a prescription, it's actually going toward something that will help keep your family healthy.

Conclusion

These tips can help you make the most of your savings. But if you're feeling overwhelmed with all the money challenges out there, don't panic. If anything is clear from this article, it's that you're not alone. There are plenty of people who have gone through what you're going through now (and even worse) and still managed to build up their savings. It may take some time and effort on your part, but in the end, it will be worth it because you'll feel better about yourself and more secure about your future—and that's priceless.

About the Author

Patrick Watt is a content writer, writing in several areas, primarily in business growth, value creation, M&A, and finance. Other interests also include content marketing and self-development. Say hi to Patrick on Twitter @patrickwattpat.