Budgeting and Saving: 18 Ways to Stay Motivated

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Budgeting and Saving: 18 Ways to Stay Motivated

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You decide to clean up your finances, create a budget, and start saving money. But a few months later, progress is slow and you're losing inspiration to stay on track. Welcome to the club!  

Budgeting and Saving: 18 Ways to Stay MotivatedHere are 18 ways to stay motivated, keep your budget buckled, and your savings swinging.

  1. Know Why You're Saving Saving money for its own sake is a poor motivator, since there's no emotional or tangible attachment to the end-goal. If you have a goal that excites you, you're more likely to remain focused.
  2. Avoid Extremes If you set an extreme savings program involving deprivation, chances are you'll ruin your progress with rebellious binge spending.
  3. Get a Financial Planner A financial planner can instil motivation by helping you create (and stick to) your goals. Here's what you can expect from a financial planner (and no - they're not only for wealthy people).
  4. Start a Blog There's a transformative power to writing down your goals, thoughts, and experiences. With a blog (even a private one), you can track your journey and create accountability.
  5. Dream Big...There's nothing like an awesome dream to keep you motivated to budget and save.
  6. ...But Be Realistic If your dream is too intangible, it's hard to shift your lifestyle to accommodate it. Make sure your budgeting and savings goal is attainable.
  7. Look For Waste and Reduce It Examine your life for waste. For example, are you fully utilizing things like leftovers, phone plan features, tv channels, magazine subscriptions, and unworn clothing? If you're not getting full bang for every buck you spend, then cut out the waste.
  8. Track Your Expenses Creating and sticking to a budget requires you to track your expenses. No questions asked. You'll be motivated by seeing the difference in spending, and you can identify where to make changes.
  9. Keep the Vision Strong Create reminders of your savings goal (such as vision boards) and leave them in key places.
  10. Change Jar For an added savings boost, try tossing all your coins each day in a savings jar.
  11. Automate Saving Create a regular automatic transfer of money to a dedicated savings account, and you'll made due with the rest. No motivation required!
  12. Break it Into Chunks Breaking down long-term goals into manageable bites makes it easier to stay motivated.
  13. Reward Yourself Give yourself a reason to keep saving and budgeting! Rewarding yourself at certain benchmarks will help.
  14. Phrase Goals Positively Focus on positive definitive goals. For example, "I will have $x saved by July for a summer vacation".
  15. Create a Support Network Friends and family can help you stay motivated, especially if you make yourself accountable to them.
  16. Review Regularly There's nothing like seeing progress towards goals to help you stay the course.
  17. Make it a Family Affair Don't keep your kids in the dark. They can be great motivators if you educate and involve them.
  18. Understand it's a Lifestyle If you make budgeting and saving a lifestyle by building healthy habits around setting goals and tracking your progress, you'll be better armed to handle the ongoing (sometimes unrelenting) nature of budgeting and saving.

Budgeting and saving unto itself is a means with no end. It's up to you to create the goals and form a network to help you stay motivated along the way. How do you stay motivated?


Setting Financial Goals You Will Achieve

Find the Power in Tracking Your Expenses

Budget Technique #99: The Envelope Method

Nora Dunn, Guest Life Balance Blogger for CareOne Debt Relief ServicesNora Dunn

Nora Dunn is The Professional Hobo: a full-time traveler and freelance writer. She is a contributing writer under the CareOne Debt Relief Services Life Balance blog. Having sold her business and belongings to travel, she has been on the road since 2007. She travels in a financially sustainable manner, taking advantage of creative volunteering positions. As a former certified Financial Planner, she is financially responsible for her actions along the way. She believes there is a fine balance between planning for tomorrow, and living for today. Compensated Blogger for CareOne Debt Relief Services. You can follow Nora on Twitter @hobonora

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  • Great post!!  Thank you!

  • It's great to be here with everyone, I have a lot of knowledge from what you share, to say thanks, the information and knowledge here helps me a lot.

  • Motivation is really important for every single person we face a tough and hard time in our lives and there it works well. Every one person has different sources of getting motivation and he or she knows what it is and why it is necessary.

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