I started saving around two years ago.
I started to notice how much I was living from paycheck to paycheck and I couldn’t figure out a system of saving that gave me the flexibility to save money without having the urge to spend it.
So the Saving option that the banks gave me was a “Savings pocket” this a separate account that is linked to the main one that you can not draw from and the interest is set to 3% and the only way to withdraw funds is to go into the bank and give a seven day notice, if you needed to have instant access there would be an Admin fee, This option was special Saves account only available for Students because the aim is to encourage saving and they also wavered extra fees, not like a normal Savings account.
Now I was no longer a student and the bank changes where starting to stack, So I opened up a new bank account at another bank with close to zero fees but I was still stuck on the issue how do I save.
The next strategy was putting away 10% each mouth and increasing it by 5% every month to speedily increase my savings, but the thing is I love buying things. so I guess emotion drives my spending, and so I figured that I should use this to benefit me, in buy only what I can use in my photography business forcing me to save for new gear.
After a year I started to see the benefits from doing this but I was still felling the bank chargers even though I changed banks, Ok I get it that They have to make money somehow.
Now I feel more comfortable knowing that I have somewhat of control and direction over my emotional spending, So to end this off have a hard look at your bank statement and invest into memories spent with people in your circle. they make for better memories.