Ok – so, this is Melbourne … it’s always raining. Imagine if you had to use up your lucky stash every time it started coming down.

Fortunately, the above idiom specifically refers to having something of significance put aside for when you need it most. I guess some days are rainier than others.

And when it comes to saving money, it literally pays to accumulate some wealth.

The question is – are you a natural-born saver? Or do you find you need a bit more of a nudge before you can tuck a few dollars away?

Like anything unfamiliar – it takes consistency and commitment to form a new habit, and saving is no exception. So, if you find yourself more on the spendthrift side of the scale – here’s a little checklist to guide you to the other end.

Pay off your debt: This should be your number one priority before you start saving. With current rates on high-interest debt such as credit cards climbing to 20% at some banks, you’re not saving money in the long run while you’re still accumulating these arrears.

Set a goal: If you have something specific in mind, it’s easier to make a few financial sacrifices to get what you really want. It certainly makes the process a lot simpler when you know exactly how much you need to save. But you also need to keep it real. There’s no point trying to stick to a savings plan that’s far too ambitious. Set some reasonable limits on what you’re able to put aside each pay.

Track your spending: Do you know where every cent of your pay packet ends up? There’s a good chance that some of it goes towards a few little extras that you don’t need. Consider what you spend your hard-earned wages on and work out where you can feasibly cut unnecessary costs.

Automate your savings: If you’re serious about saving, set up an automation plan with your bank so that a portion of your money is deducted each pay and transferred directly to your savings account. This is an effective way to tighten the purse strings so that you’re budgeting more efficiently. It’s amazing how little you need to spend when you know each dollar has to stretch further.

Seek some help: Sometimes you might exhaust all your options and find that you still need some assistance. A good financial strategist can help make the process a little less daunting. And because they are in the know, they have greater insight into how you can make your money work harder. Rather than saving the full amount you had anticipated, perhaps you can take a short cut or two.

GSA can help fast-track your savings via our unique investment plan. It’s a sure-fire way to pay off any outstanding debt much sooner, so you can be well on your way to creating your desired nest egg.

Call us for a free consultation today to build your financial shelter for tomorrow.