So someone asked me how he could save money because he is a student and makes just over $1,000 a month from a part time job. He thinks it is impossible to save because he has no money left over to even make any kind of savings plan.

I believe that you can start to save no matter what your income is. You may not be able to save a significant amount of money and it may seem like you are not making progress towards a goal but you can still save. I believe that saving is a habit and like any good habit it takes practice before you become good at it.

Even if you can only save $1 a month that is a habit you need to form. It may seem silly and not worth your time and that is what my friend said to me. I replied that if you have a checking account and a savings account then it is easy to set up a monthly transfer from checking to savings.

If it is automatic then you don’t have to make any effort.

If it is only $1 then you won’t miss it.

So go ahead and set that up. Leave it for a couple of months and then revisit the savings plan. Don’t make a goal like trying to save for an emergency fund or having $500 just yet.

baby steps to saving

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Just focus on the act of saving and not needing to access the money. Every couple of months increase it to a level that you feel comfortable with. Go slowly…don’t jump from $1 a month to $75 a month because that will probably stress you out and make you run for the money and defeat the whole idea behind saving.

Pretty soon you will have an ‘adult’ level of saving every month and THEN you can focus on creating goals like saving for an emergency fund or having a certain dollar amount in your account.

All it took was a few baby steps to get you into the MINDSET of saving!


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