RE: Saturday Savers Club with @susie-saver | Week 18 - Saturday 1 May 2021 - Win EDS Tokens for Comments!

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Great tips, although I think automating your savings and transfer only what is left to spend (after bills and fixed expenditure for rent/mortgage yada yada) is the best way to go. Last year had a long tough look at all coming in and going out monthly and separated everything into dedicated accounts, setting up auto transfers for saving and investing and for both of us a fixed amount we can freely spend however we see fit. Works like a charm and we've been able to save more than ever! Only thing I'd recommend is to be flexible and adjust the amounts if necessary..

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I like the idea of saving a fixed amount every month.

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It's a game changer, doesn't even have to be much to add up over time! As it never reaches my spending account I don't even miss it :-)

I think having it automated and send away right after the money comes in is the most important.

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It’s like automating a car 🚙 payment or mortgage. Only this time it’s your saving. Awesome 😎

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Indeed, we actually automated some extra mortgage payments in the process too. It's not much but like with investing after some time a snow ball effect will happen and it will get easier too.

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😎 awesome. Looks like you have everything under control. 👏🏻

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Sure feels that way, but I realize how fortunate of a situation I'm in to be able to do this now. How are you doing?

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That's a great idea @riandeuk and one I follow myself. If someone is able to do that, it's a great way to go. An interesting thing that happens, when you start saving, is that you become more aware of what you are spending and create even more savings, sometimes almost advertently.

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Yeah it started by getting a good overview of monthly spending with fixed and variable separated. Then seeing what was necessary and what wasn't adding any value anymore. Then checking which of the necessary could be gotten at a lower cost and finally setting up a budget based of of these numbers and the automated transfers.

Very happy we did :-)

And like you said, the awareness creates more opportunities.

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