One of the toughest challenges facing the average person is the ability to save money and have the financial means necessary to take care of their various expenses. While the money struggle is real, those who are able to make wise decisions regarding the money they do have coming in certainly put themselves in a better position for financial stability when unforeseen circumstances come tugging on your purse strings, as they always do.

Here are some helpful tips to consider when thinking about your financial situation and how to improve it, both now and over the long-term.

Saving a Little at a Time

The idea of saving money can be daunting for some, especially if you listen to top economists who primarily give financial advice suitable for those who already have savings to work with. For those who are just working up to that level, it’s easy to conclude that in order to save money you must put all of your income, or at least a substantial portion of it, into a retirement savings account that you won’t see again for several decades. While that conclusion may seem irrational to someone who has already begun to save for their golden years or an unpredictable crisis, it is this uphill battle that scares many people away from making an effort to start saving money when they can.

It’s perfectly okay to start small when saving money; after all, a penny saved is a penny earned. A good place to start is by simply putting away $20 each week or each paycheck. It may seem like an insignificant amount of money that won’t make a big difference, but that money will add up over time and can be invested into a 401K account. When you are ready to retire, that $20 a pay period that you didn’t think would be significant could potentially give you the security you need when you are no longer able to work. You could also use it to purchase real estate, like a smaller and more manageable home or condo. To make sure that your investment in your future works best for you, work with the help of Kuba Jewgieniew of Realty ONE Group or a similar realtor, who are knowledgeable about potential savings you may be eligible for. Whatever you use your savings for, it is wise to have a small nest egg to fall back on when you need it.

Making Wiser Decisions for Financial Stability

It’s almost stunning how quickly money can disappear; just look at the spending habits of teenagers and college students who seem to be experts at spending money at fast food joints and trendy coffee shops. While there is nothing wrong with spending money, even on the occasional comfort or luxury item, it’s important to keep those purchases to an occasional minimum if you’re trying to save money. Instead of getting together with your friends once a week, cut back to a bi-weekly or monthly dinner. The savings that can be made when you skip a few morning coffees or a night out at a bar or restaurant can quickly add up and go into your growing savings account or to pay down debt. One of the best decisions someone trying to save money can make is to refrain from or cut down on unnecessary purchases.

These are just a couple of tips individuals trying to start saving money can use to grow their savings account with little effort or sacrifice. Intentional and mindful living can keep your finances in order, make you appreciate the comforts as they are purchased less frequently, and make you thankful that you started now, rather than when you’re older or when a crisis arises where you need the money you have saved up.