1. The best place to begin with is knowing what you want – what to do with your money and when to do it. This will help you decide how much to save over a certain period of time. You can break down the amount in equal installments based on your time frame. The goal is to be sure that you have enough time to reach your goal.
2. Develop a plan on how you would go about with the intended saving. This process may include choosing the bank that would take care of your savings and computing the interest that will accrue to your account. Planning will make saving easier.
3. You have to strictly follow your savings plan. You have to be disciplined. Stay focused and committed to your plan. There will be distractions along the way but discipline will pull you through your goal.
4. Be willing to make a sacrifice. You might give up some regular routines in order to make room for your savings. Sort out your activities early on to distinguish the needs from the wants. The wants usually have alternatives and may call for some sacrifice. For instance, you might forego eating out twice a month and keep the money and place it in your savings. Sacrifice is a matter of mind conditioning. Tell yourself that sacrifice is just temporary.
5. Let your family join you in your efforts. It is important to let your spouse and children know that you are saving for the future. This will make them understand what the discipline and the sacrifices are for.
Saving money today is the most practical way to survive the uncertain financial times.