How to save up

Got a problem saving up? Here are 20 tips on how to get started saving up.

1. Set a purpose. Why do you want to save? It is for early retirement? Is it for an emergency fund? Find your PURPOSE, and stick to it.
2. Allocate about at 20% or more from your salary or monthly income. Remember the formula INCOME-SAVINGS= EXPENSES and not the INCOME-EXPENSES=SAVINGS.
3. Increase your self-control. Think a lot of times over if the thing which is nice to see or "on sale" is want or need. It is essential that you only buy what you really need.
4. Practice delayed gratification from now on. If you're dining out that much, maybe you can try cooking and eating at home. This will provide a lot of benefits: you can save more, food is sure clean and the best thing about it is more bonding time with your family!
5. If income increases, don't let expenses catch up, save the additional income.
6. Pay in cash. In that way, you only spend what you have.
7. Have a forced saving or "paluwagan". Invite your family and friends to participate in it.
8. Live below your means.
9. Go for the quality LIFE and not for the quantity.
10. Do not lend money.
11. Do not encourage people even if it is a family member to automatically expect you to solve their money problems in order to support their lifestyles.
12. Find ways to earn more.
13. If there is a plan to go to the mall, make sure that you eat at home first in order to avoid dining out.
14. Reward yourself occasionally without the guilt.
15. If you can take a walk to your destination, then do it. It will not only spare your money but walking also adds years to life.
16. Avoid delaying paying of bills.
17. If you're the type who can't control his/her spending, then stash away that credit card!
18. Make a list of your expenses for a month. See where you can cut back. In this way, you can look into unnecessary expenses and adjust them.
19. Buy things in bulk especially those which you frequently consume.
20. Learn to compare prices. Haggle.