We live in uncertain times and it is only through savings that we will be able to secure our financial future. The uncertainty is such that you could be employed one minute and the next your employer could be issuing you with a retrenchment letter as a result of poor economic conditions. To better protect yourself from such circumstances, individuals are advised to put some cash away in the form of savings. With your savings, you can comfortably pay your bills as you search for another job. You can pay the rent for your apartment and as such, you and your family won’t spend nights out in the cold. You can also use the saved up cash when you are old and retired. To help individuals save some money for the rainy days, here are a few tips that are helpful in this regard.

  1.      Reduce your debts.

This will help you save more money since the funds that you would have directed to repaying your loans can be directed to your savings account. If you need a loan to deal with your financial challenges, then you should only take those with favorable terms. Loan rates and fees vary across institutions and applicants should shop around for the best rates for their loans. After acquiring a loan for your personal or business needs, you should make the necessary arrangements to pay them off as quickly as possible. The quicker you pay off your debts, the better since you can quickly get back to your saving objectives. You should also try not to default on your loan since you will have to pay late repayment fees when this happens.

  1.      Set a saving target.

Saving can be difficult without a target since individuals have nothing to look forward to. Individuals should, therefore, set up a target to help them stay focused on their saving objectives. A target can be something that you intend to buy such as a car or a house. It can also be a specific amount that you feel can help you live comfortably without a regular paycheck such as when you retire. It could also be an amount that you need for an event such as a wedding or a tour of the world. Your target, however, should be realistic and within your means.

  1.      Cut bad habits.

If you are a gambler, then it’s high time you to rid yourself of that habit if you want to save money. The same applies to alcohol and drug abuse. Maintaining these habits is very expensive and if you manage to stop them, you will have more cash to spend on other important things and to save as well.

  1.      Avoid unnecessary luxuries.

You will have to reduce your expenditure on luxuries if you want to save more money. Hotel dinners, concert tickets and exotic holidays are some of the things that you can do away with if you want to save more money. Enjoy homemade dinners at home and rent your favorite movie for your entertainment needs.


We all need to start saving as soon as possible so as to secure our futures. Use the above-mentioned tips to improve your savings.  

Author's Bio: 

Brad loves writing about video games almost as much as he loves playing them. Beginning with the original NES, Brad has been playing video games his entire life. His favorite franchises include The Legend of Zelda, Elder Scrolls, Final Fantasy, Pokemon, Doom, and Fire Emblem.