Do you find it hard to save money? Do you always hope you have some money left over at the end of the month, to save? Or do you save first - when your salary comes in - hoping you don’t need it later in the month to make it through?

With many people watch their budgets with the current energy crisis, high petrol prices and ongoing rises in inflation, saving goals might be harder to achieve.

A few things influence the ability to save well:

A monthly spending plan.

Having saving jars for big annual costs, like your health deductible, taxes and college fees.

A spending pattern that matches your income.

The key to successful saving

However, there is one super easy habit that is proven to be helpful. Which is: setting money aside when it comes in. Consider the money gone, not yours, when you put in on your savings account. Don’t touch it, and use the money you have, to get though the month and cover your costs.

When you get a salary, part of that salary has already been paid to the taxes. It’s not yours and you don’t get to spend it. Of course, it’s easier with money you don’t even get in your bank account, but you can view your savings the same way.

This is future money, not for today or this month.

Introducing the Money Method: Savings First

Smartly set up your savings in the Flow app. When your salary comes in, let money flow to your savings account automatically.

To set up the Savings First flow you’ll need:

1. A bank account where your salary comes in.
2. A savings account.

Think of how much money you want to save. A great first step is 10%.

Once you set it up, it’s done. Your savings will be set aside, and you know exactly how much money you have left to spend that month.

Evaluate!

Check in every once in a while and see how you are doing. Is it too high? Lower it a bit. Nothing is more discouraging than setting a goal that is too big and then seeing yourself fail each month. Start slow.

Are you doing well? Then keep it up! Maybe in the future you can save even more. You can always up your percentage or amount.

Happy automating!