1. Discipline, Discipline, Discipline

Saving money quickly starts with setting a clear goal and deadline. Create a savings plan and set budgets to save as much of your income as possible.

🧐 How to Create a Savings Plan?

🧐 Budgeting for Beginners and Budgeting Methods

The key is to stick to your savings plan, even when you are tempted to spend more or withdraw money from your savings account. To stay motivated, keep your goal in mind. For example, if you are saving for a vacation, put up pictures of the places you want to visit 🏝️.

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2. Save First, Spend Later

An effective strategy for disciplined saving is to set aside savings before spending. Once you receive your salary, transfer your savings amount directly to your savings account. As Warren Buffett famously said, “Do not save what is left after spending; instead spend what is left after saving.”

Be realistic about how much you can save—you still need enough for essential expenses.

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3. Make Saving Tangible

Visualizing your savings goal can be incredibly motivating. Studies show that people tend to save more when they can see their progress. Behavioral economist Dan Ariely found that participants who used a gold coin with 24 slots (representing weeks) to track their savings progress saved twice as much as those without visual reminders.

Create your own “golden coin” by hanging up a poster to track your savings progress or set weekly reminders in your digital planners or to-do list to remind yourself to save.

Make it even easier: Automate your savings transfers so it becomes a habit without requiring effort.

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4. Cut Expenses

✅ Goal set

✅ Savings plan created

✅ Budgets established

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Now it is time to scrutinize your spending 🧐

There are often more savings opportunities than you might think. Examples include buying cheaper groceries, canceling unused subscriptions, or switching to a less expensive energy provider. By critically evaluating your expenses, you can save more.

🚨 After reducing costs, update your budget to keep your savings plan aligned, helping you save money faster.

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5. Extra Income? Think About Your Savings Account

Got an unexpected extra income, like a raise, holiday pay, a 13th month, or an energy refund? Put it straight into your savings account instead of spending it.

You can also make extra money by selling items you no longer need, such as clothes, electronics, or furniture. Save these earnings immediately.

If certain expenses disappear—like a paid-off loan or canceled subscription—transfer that amount to your savings account. This way, you save faster without feeling the pinch in your wallet.

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6. Use Grassfeld

Grassfeld’s app lets you set savings goals and track your progress at any time. Based on your target amount and deadline, Grassfeld calculates how much you need to save monthly.

Grassfeld’s savings goals are one of the many features that help you manage your finances. With budgeting tools and automatic expense categorization through account synchronization, you can see exactly where your money is going. This overview makes saving faster and easier. Download Grassfeld now from your app store and experience the benefits for yourself!