Saving money can be a struggle.
Our present spending takes priority over putting money aside for the future.
Theres always one reason or another why we cant save more.
But that doesnt mean youll be doomed to have puny savings forever.
Time to leap over these money hurdles.
Make saving money a priority bypaying yourself first.
Better yet, adjust your direct deposit so a portion of your paycheck goes automatically to your savings account.
Probably not as good as youd like.
It always seems like an uphill battle to build (and keep) a decent amount in savings.
But what if your car breaks down, or you have a sudden medical bill?
Roadblock #2: Saving Money Just Isnt Fun
Well admit it.
Saving money isnt the most exciting task out there.
When saving feels like drudgery or punishment, its hard to stick to your plans.
Another way to make saving money more engaging is with amoney challenge.
Challenges such as thefive dollar challengeor the52-week challengegamify the process of saving money.
Recruit amoney buddyto do the challenge with you for even more encouragement to save.
Sure, the money you save up is eventually meant to be used.Eventually.
The problem pops up if you arent able to place boundaries on your savings.
Separating your savings from your main checking account can help.
You dont want it to be easy to transfer money out of your savings.
Deposit your savings in a separate account that you wont easily access.
If youve got a debit card for that account, shred it.
Consider putting your money in anonline-only bankrather than the financial institution thats right around the corner from your house.
You may even want to openmultiple savings accounts, so you could separate your emergency fund from other savings.
you could further divide your other savings for different purposes like saving for a house versus saving for vacation.
Consider picking up aside gig or two and committing that additional income to your savings.
Or sit down with your boss and make the case for why you shouldget a raise.
Switching jobs to land a better-paying position is another option.
Be sure tonegotiate your salaryto get the best offer.
With your new income boost, confirm you dont give intolifestyle inflation.
Keep spending as you did previously and put your extra money into savings.
Nicole Dow is a senior writer at The Penny Hoarder.
(Can you sense my millennial sarcasm there?)
You know which ones were talking about: rent, utilities, cell phone bill, insurance, groceries…
