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Are you ready to begin saving money, but don’t know where to start? Saving money can be difficult, especially if you have a low income, find it impossible to manage a budget and more.

The fact is that many households in the UK face similar issues. According to The Money Charity, almost 10 million households have no savings and another 3.26 million have only managed to save up to £1,500. So, you’re not alone in finding it a challenge to save money. 

No matter what your saving goals are—from that exotic vacation to a new home, or just to put something by for emergencies, now is the best time to get started with your saving scheme.

We’ve put together a list that will help you get started saving today! The best part? These methods are so easy you won’t feel the pain of setting savings aside for later.

1). Budget & Track Spending

The first rule of business is to get started by creating a budget. It’s imperative to know how much you need to pay for housing, utilities, groceries, etc. You can start out by tracking your spending for a month. During the month, list everything you and your family spends money on. We do mean everything.

You can use a program such as Excel or another spreadsheet program to list and track your monthly expenses. It’s easy—and if you don’t have Excel, there are free spreadsheet programs available.

This is a great way to see where your money’s going each day/week/month. You’ll also be able to track impulse buying and more. Be sure to write down everything so you’ll have an accurate picture of your spending. From here, you can develop a monthly budget of expenses that must be taken care of.

2). Have a Time for No-Spending

What does this mean? Well, set aside a day, week or month where you decide to not spend. You’ll still need to pay for those expenses that cover housing, and more. However, make a commitment to not spend anything that’s not necessary.

This can be challenging, but you can first stat off by setting aside a no-spend day. Once you’ve gotten the hang of that, try to do a no-spend week, and so on.

3). Transfer Excess to Savings

Once you’ve gained some excess in your account, get into habit of transferring this into a savings account. Another term for this process is “evening out your bank balance.”

If you don’t currently have a savings account, it’s easy to open one up. Then when you have excess, transfer those funds into the new savings account. You might choose to get on a schedule with this. For instance, you could choose to transfer any savings weekly or monthly—whatever works for you.

And it doesn’t matter how much or how little you transfer. It’s possible to transfer as little as 10p each day. The goal is to make regular contributions to your savings account. This will help you to become a saver without too much effort! Just set up a schedule and stay committed to moving the excess into savings!

4). Use a Piggy Bank

Do you have much loose change? What happens to it? Do you set it in a jar and forget about it?

It’s easy to be dismissive of coins. It’s not that much money, so why does it matter what happens to it? The obvious answer is that it matters because this is money! No matter how small the amount, this is money that could be saved toward your goal.

Start getting into the habit of putting your coins in a piggy bank, a jar, or whatever container works for you. Over time, your money container will become full! We promise, as long as you keep up this habit. Once the container’s full, you can take it to the bank and transfer these coins into your savings account!

While it may seem tedious to keep all your coins, we guarantee this is a great way to save more!

5). Save a Penny a Day

Have you ever heard of the 1p challenge? The challenge goes like this—it’s a way to save money for 365 days—you do this by saving 1p on the first day. On the second day, you save 2p, and on the 3rd…you guessed it! You save 3p. On the 365th day, you need to put away £3.65. If you stay with the program, you’ll have saved £667.95 by the end of the year!

This is also a great way to save money for Christmas shopping and other expenses. You can start out on the first of the year; however, you can really start any time.

What happens if you don’t have the right change? That’s a good question. If you don’t have the right amount each day, that’s OK. Just put aside what you have—whether that is less or more required for that specific day. The main thing is just to get into the habit of saving.

6). What’s Your Disposable Income?

If you don’t know the answer to that question, then it’s time to make some calculations. This where the budget we talked about before comes into play. To do this, calculate all the expenses you need to take care of in a week. That’s your budget. Whatever’s left over will be disposable income.

This way, you’ll be sure to not overspend, and have a better chance of saving money. If you’re on a salary, this process is a bit easier because your income is more or less the same each month.

When you know what your disposable income is for the week, you’ll be able to determine what it can be spent on, or not. If you have enough leftover money, it’s a good idea to use some of this for your savings scheme each week. Again, it’s doesn’t matter if this amount is large or small.

These are some easy ways to get started saving money. You’ll never miss the excess put into savings. Remember, you’re saving for a specific goal. As you see your savings grow, you’ll have a real sense of accomplishment and in the end, you’ll be able to achieve that goal you set!