Five Quick Tips To Stay Disciplined With Your Saving Habits

We cannot emphasize here the importance of saving when you still have the earning potential. Most people have trouble saving money for they do not have any control have there spending pattern. Here are some tips that will bring in a disciplined approach to saving.

1. Do not have more than one credit card and do not ask your credit limit to be increased frequently.
2. If required force yourself to signup for a monthly investment scheme such as Systematic Investment Plan or Recurring Deposit.
3. Make sure to set a budget for entertainment and personal shopping needs so that you know your limit when you need to stop otherwise your reckless spending pattern could eat into your savings as well month after month.
4. Decide to save at least 10% of your monthly earnings and increase it by two percent every month until your total savings per month reaches a total of 20% of your total income.
5. Signup for ECS if your saving scheme should have such facilities so that you are not blaming it on your forgetfulness or lack of time.