We all have things that we want to do in life and need money to do so. Saving can be hard even with the best of intentions which is why I’ve compiled a list of 8 ways to motivate yourself to save money.


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8 Ways To Motivate Yourself To Save Money




The first month of the year is speedily drawing to a close. I know the enthusiasm to achieve those New Year’s resolutions set out at the turn of 2018 for some of us have already started to falter.

Research conducted by Strava, the social network for athletes, revealed 12th January was the day New Year adrenaline faded. This is the day motivation was lost and Strava named this day ‘Quitters’ Day’. It’s sad to think that momentum can be lost so quickly but I’m determined not to be another statistic!

I set a number of financial goals at the end of 2018 and I’m determined to achieve them. One of them was the 1p Money Saving Challenge which I started on 1st January. I’m proud to report I’ve saved a whopping £3.78! Laugh now, but I’m well on my way to saving £667.95 by the end of 2019. It’s not too late for you to join the challenge here.

If you are yet to start your money saving journey or have already begun losing momentum, I’ve compiled this list of 8 ways to motivate yourself to start saving today.


1. Identify Your Why

What are you saving for? I remember in the first couple of years of marriage my husband and I tried to save. As quickly as the money went into the savings account was as quickly as it came out. Thanks to online banking, it’s so easy to get access to savings when ‘emergencies’ creep up. In our case these emergencies were things like group holidays to Bermuda, Ghana and St Lucia. Our friends were going so we just had to be there too! When we started thinking more long-term about our future and getting on the property ladder, we had something that we were actually working towards. Suddenly saying no to things became much easier and we were able to save enough for our deposit.


2. Find An Accountability Partner

There’s something about telling someone else your plans that forces you to take action. Not least because you don’t want to be perceived as all talk and no action! An accountability partner will help ensure your goal remains a priority and will challenge you to make what seems ‘impossible’ possible.


Motivate Yourself To Save Money - two women sitting on white bench

Photo by Elle Hughes on Pexels.com



3. Harness The Power Of Visualisation

A physical visual representation of your financial goal and the thing you’re saving towards will make it seem more tangible and obtainable. This could literally be a printout of the house you want to buy, a statement saying credit card balance equals zero stuck on your bedroom wall (or screensaver on your phone). Having the constant visual reminder of what you’re saving towards will keep you focussed on reaching your goal.


Motivate Yourself To Save Money

Photo by Mikechie Esparagoza on Pexels.com



4. Read Books On Personal Finance

I’ve read a few amazing books related to personal finance over the past few years which have really motivated me along my journey to achieving financial freedom. These books have helped increase my understanding of how money works. I’ve listed them below if you want to check them out along with a few others that are on my list to read this year:


5. Take part in a group challenge

There is strength in numbers. There’s something about knowing that you’re not in it alone that keeps you on track. Plus challenges are a great way to make saving fun, which is why I started the 1p Money Saving Challenge and will be doing a few more throughout the year.


Motivate Yourself To Save Money - 1p Money Saving Challenge 365 Days

1p Money Saving Challenge 365 Days

6. Break down savings goals

If you’re saving towards a holiday and need £3,000, it may seem like an impossible target. This is demotivating. Instead, break it down into monthly mini savings goals and give yourself a pat on the back each time you reach a mini savings goal.


7. All work and no play makes Jack a dull boy!

In case you’re not familiar with this proverb it means, without time off from work a person becomes boring. In application to the topic of motivating yourself to save, it’s important to treat yourself occasionally. This will help you to avoid getting frustrated and spending all your savings at once. Budget for small treats when saving as the little rewards help keep you on track to reach your savings goals.


8. Re-Evaluate Your Goals

If less than a month into the year you’ve already lost motivation to achieve your savings goal, it might be a sign that you need to re-evaluate your savings goals. If you find that your savings goals are no longer aligned with your priorities or don’t excite you anymore, re-create a list of savings goals and re-prioritise them. You may find that you need to change your focus to something else, which is ok. After all, you can simply take the savings you’ve already accrued and put it towards a different goal.


More Like This: 

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