How to Save More Cash (When You've Got None)

Does it feel like you're always losing money as quickly as you're earning it?

Join the club. About 7 out of 10 consumers in the UK today struggle to keep on top of their finances - so you're not alone. However, just because it's common to have money problems these days, doesn't mean that you have to resign yourself to constantly trying to find more cash.

However, no matter how little cash you think you have, it's important to find a way that you can tuck some extra money aside for "just in case" expenses. If you want to make sure that you can afford a rainy day fund - no matter what, here's what you need to know. Have the Right Attitude

One of the most valuable things you can have when you're trying to save money is the right attitude. Plenty of people tell themselves that they'll never have enough money to reach their financial goals, or that saving is too difficult. However, the truth is that any saving - no matter how small can make a huge difference to your future.

Make sure that you celebrate every little win - even if that just means saving a little extra cash when you take out a loan because you take the time to compare your options and choose the one with a lower interest rate. HappyPenguin.com are a good go to source if you’re looking for a low interest option. You'll also need to be open to change, as sometimes, making the most of your budget means adjusting various aspects of your lifestyle.

Take Responsibility for your Cash

Another difficult aspect of budgeting is forcing yourself to look realistically at your spending habits. When you sit down and examine your bank account statements for the first time, there's a good chance that you won't always like what you see. However, you can't afford to ignore the dangerous spending habits that you've been building up.

Instead, focus on taking a new approach to your spending by checking whether you're overspending in any specific areas. For instance, you might notice that you're paying way too much for your energy bills. This could be a sign that you need to reduce the amount of time you leave devices running overnight. However, it could also indicate that it's time to move to a different energy supplier. Be Prepared to Make Sacrifices 

Everyone wishes they had the freedom to buy whatever they want whenever they want to. However most of us just don't have this luxury. While it's upsetting to have to give up on things that you want, it's the best way to make sure that you're going to save some serious cash.

A good way to ensure that you can commit to your budget going forward is to ensure that you're not sacrificing too much. For instance, instead of telling yourself that you have to give up on eating out with friends completely, cut down from four times a month to twice or once a month. Forcing yourself to do too much too fast can make things more difficult in the long-term. Keep Track of your Progress 

The only way you can make sure that your spending habits are evolving in the right direction is to track your spending habits. There are plenty of smartphone apps that you can download to help you do that these days. For instance, you can download an app that allows you to assign goals to your savings and track how much money you're keeping aside each month.

Remember to check through your bank statements each month or have notifications sent straight to your smartphone about your spending activity. Additionally, ensure that all your friends and family know about the changes that you're making to your lifestyle. The more support you have, the easier it will be to stay on track. Give yourself a Goal 

Finally, saving for savings sake can be a good idea for some people. However, for most of us, it's difficult to force ourselves not to spend extra money when we see something we want, or we're invited out for drinks with friends.

If you're worried that you might lose track of your motivation from time to time, consider setting solid goals that you can work towards. Think about what you want to accomplish with the money that you're saving and name your new savings account after your target. You can even stick pictures that represent your goals on your mirror in your bedroom or your refrigerator to help keep your eye on the ball.