Spending your savings unnecessary month after month is an indication that you are not keeping your budgets and planning. Do you want to stop dipping into your savings and start building accountable savings? Then follow through this article to the end.
Here five things if effectively done will reduce the rate at which you spend your savings unnecessary;

1.Check and adjust your budget
If you are consistently dipping into your savings, this is a sign that there is something wrong with your budget. You may find that you need to adjust your spending in your grocery category or other areas to cover increasing costs in utility bills.

Taking the time to write down your spending each month, then adjusting your budget accordingly will make a big difference in how much you earn and effectively save each month. You may be surprised at how much the small daily expenses are really costing you.

2.Adjust the rate at which you make payment with debit card
It’s worthwhile to identify your problem spending areas and avoid them altogether. Another solution is adjust the way you make payments which your debit card and switch to cash only to pay for the majority of your expenses.
Because when you are using cash only for your spending, it takes a lot more work to overspend since you have to actually take the money out of the bank.

3.Move your savings to another bank with high savings interest
If you put your money in a different bank than your debit card, or open an online savings account, it slows down how quickly you can access the money, since you have to manually transfer it, then wait for the transfer to clear.
This can help curb impulse purchases, but you still have access to the money if you need it. You can have your money automatically transferred into this account each month. It makes it easier to allow the money to grow instead of relying on it to cover your overspending.
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4.Find additional income
It may be that you are not making enough to cover your expenses each month. If you are dipping in to cover your basic expenses each month and not to cover emergencies or overspending, you will need to find additional sources of income or look for a new job.

Increasing your income can make it easier to save. Picking up a second job that allows you to earn tips can also help you cash flow any smaller emergencies that may come up.

5.Set up an emergency fund
If you have a separate emergency fund to handle unexpected expenses, then you will no longer need to dip into your savings account to cover unexpected expenses like car repairs or medical bills.
Although using your emergency fund may seem like you are dipping into savings, you really are not because you have earmarked these funds ahead of time to cover these expenses.

Also read how to build emergency fund accounts


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