When you’re just putting money aside with no reason to do it, it becomes harder to commit to it. Instead of setting the bar too high, create realistic goals and challenges which are comfortable to live by. If you restrict yourself so much, you’ll become unhappy and angry at others who are flaunting their cash. Instead, find your own motivation to continue living your life whilst preparing for your future.

One of the best ways to save money is to reduce your outgoings. Most of us have multiple direct debits for our phone, car, insurance, and other leisure activities. However, most of these include interest rates which are eating away at your savings.

The first step is to look at your outgoings. How many direct debits do you currently have? The less money you have leaving your bank account, the easier you’ll find ways to save money. However, this requires prioritizing what’s important to you. Do you need all of these outgoings or can you cancel them and put the money aside each month instead?

Alternatively, pay your outgoings in one chunk to reduce how much money leaves your bank every month. This makes it more possible to save. You can also reduce your outgoing by researching the best deals for the things you’re paying. For example, is there a better deal for your phone than you’re currently paying? Or perhaps you can switch providers for other payments.  

Many of us are prone to improving a grocery shop whilst we’re out. However, this is dangerous territory because you begin to pick up food and accessories you don’t actually need. It also means that you walk down more aisles which can lead to temptation. Instead, prepare a list of produce you need before leaving the house. As a result, you can head down each aisle for the products you need and be less likely to buy unnecessary products.

It’s amazing how many stores have different prices for the exact same product. You can spend $20 for a lipstick in one store or double that in another. Whatever you need, ensure you shop around before making a purchase. We also recommend scouring the Internet for discount codes, because there are plenty of online stores which accept them. Consequently, you can save hundreds of dollars a year just by researching before you buy.  

Not everyone is aware that you can refinance your mortgage when you wish. Instead of continuing to pay monthly payments, regularly research what the best deals for you are. One of the best ways to save money is to limit your outgoings. Refinancing your mortgage could potentially save you hundreds of dollars every month. Your credit score may have changed since you applied for your mortgage which could affect your interest rate.

Focusing on ways to save money can actually make it harder for some people. The best ways are to adjust your focus on other things and people. What’s really important in your life? Fill your days with people who make you laugh and activities which warm your soul. Some people spend money because it gives them a rush and sense of happiness when they receive their new possessions. Alternatively, invest in becoming healthier. Join the gym. Make new friends. Read a motivating book to inspire you each morning. Watch your favourite TV shows. Take your mind off of ways to save money by becoming happier in other areas in your life and you’ll find that saving them comes naturally to you.

Everyone has a different salary and lifestyle, so we can’t all save the exact same amount. However, it is possible for everyone with a few adjustments to their life. You may be so focused on the end goal that it’s intimidating to start your saving fund. But, it’s completely possible with some planning.

Look at your bank statements. How much do you receive each month? After your outgoings, how much are you left with? Even if you can only afford $30 a month, that’s $360 -- a lot more than nothing. Set monthly saving goals and keep to it.

Some people find it more motivating to have a money jar and see their funds build up in front of their eyes. Alternatively, you can set up an automatic payment system to your savings account to prevent you from losing track of your expenditure.

To succeed in saving money, you need to have a solid motivation to help you through the difficult times. Remind yourself of the reasons you’re saving, with photographs, post-it notes around the house and even a list of reasons to retain savings. If you don’t have a motivation, what reason do you have to save? Create one. Make it specific and not generic. For example, a holiday, a new car, or even a new wardrobe.

Setting up an automatic saving system is a lot easier than manually transferring money every month. Not only does it ensure that you actually contribute to your saving’s pot regularly, but you don’t forget. You begin saving in the background without it seeming like a chore. There is a selection of savings accounts to choose from which have different interest rates. Many even prevent you from accessing your money – which is ideal for anyone who’s prone to dipping into their savings.

If you're looking for a few ways to see a difference in your funds immediately, you're in luck. We've compiled a list of a few automatic changes to see the fruits of your labor more quickly.

1. Switch to energy-saving light bulbs to reduce your energy costs. The saving isn’t massive, but it all adds up.
2. Check your portion sizes when cooking. You could be overfeeding yourself and spending too much money.
3. Buy frozen vegetables instead of fresh ones, so you don’t have to throw them out when they’re moldy.
4. Switch to direct debits for bills. This means everything is automatically paid without you having to worry, and plenty of companies offer a discount for this.
5. Generate a new income. Earn some extra cash in your spare time. Just $100 a month can transfer to your savings.
6. Sign up for loyalty cards to receive discounts when applicable.
7. Instead of buying everything new, could you visit thrift shops first? There are plenty of online buying and selling platforms which offer amazing deals for customers.
8. Share travel to reduce your costs. Could you share your commute with a co-worker? Or, perhaps utilizing public transport is cheaper than owning and insuring your car. Look into a multitude of transport options.
9. Tell your family, friends and co-workers that you’re trying to save. Ask for their support to keep you on track. It’s important you surround yourself with healthy, positive energy.
10. Get cashback for shopping online.