Sometimes the hardest thing about saving money is just getting started. It can be difficult to figure out simple ways to save money and how to use your savings to pursue your financial goals. This step-by-step guide can help you develop a realistic savings plan.


1.    Record your expenses: The first step in saving money is to know how much you are spending. For one month, keep a record of everything you spend.

2.    Make a budget: Now that you have a good idea of what you spend in a month, you can build a budget to plan your spending, limit over-spending and make sure that you put money away in an emergency savings fund.

3.    Plan on saving money: Taking into consideration your monthly expenses and earnings, create a savings category within your budget and try to make it at least 10-15 percent of your net income. Don’t save what is left after spending but spend what is left after savings.

4.    Earning: Never depend on single income. Make investment to create a second source.

5.    Decide on your priorities: Different people have different priorities when it comes to saving money, so it makes sense to decide which savings goals are most important to you.

6.     Make saving money easier with automatic transfers: Automatic transfers to your savings account can make saving money much easier. By moving money out of your checking account, you'll be less likely to spend money you wanted to use for savings.

7.    Watch your savings grow and invest: Check your progress every month. Not only will this help you stick to your personal savings plan but it also helps you identify and fix problems quickly.