Unconscious saving seems to be the best thing today because saving seems like a chore. We know we have to do it but we don't want to do it. It's kind of boring. The dreaded savings...but when we need some emergency money our savings conspicuously turn into our best friend. So how do we save without knowing we are saving.. How do we zone out and just save?
Here is how:
Create a direct debit to your second bank account: Its that easy, send 10% of your income on pay day by direct debit to your other bank account which you have chopped the debit card to. This way saving feels more like a credit obligation and a need that a want. You are already saving...you can even forget about it and wake up one day to realised you have saved for 12 months.
Round up your daily spending:
well this isn't really your job, it would be a very boring job otherwise. Imagine getting back home and having to sit down for hours to round up all your spending for the day. Nightmare! We know. Luckily you can do this automatically through some ISA providers and via Huuti. It's as easy as spend, save.
Embrace cost cutting:
This is a pretty simple way to forget you are saving and focus simply on cost cutting which in reality is saving. Gas bill, cut. Phone bill, cut. Car finance, cut. Loans, cut. Credit card debt, cut. This method ensures you seek the best value everywhere and every time ensuring you end up with a healthy pot of savings.
Saving isn't that hard, once you get started you will begin to enjoy it. Penny pinching is fun. It always ends up with a pot of money at the end. There are also a host of government schemes and ISAs to encourage you to save. So why wait? Start now!