Day 4 : Peace with the piggy bank – really relaxing about your savings and emergency plans

Putting money away regularly is a crucial part of good money management. It’s essential to meeting your financial goals, which means in a roundabout way that it’s important for your well-being. Saving might sound boring and tedious at first, but it’s actually not so tough. Saving of course simply means not spending money, but it also means that you don’t have to worry in the event that you need more money than you planned for. This is why you set up that emergency account mentioned yesterday. It’s your financial contingency for an emergency. 

How much money do you actually spend on what?

Saving gets easier when you approach it systematically. With the help of your financial plan, take another look at exactly where your money is going. You’ll see there in black and white what the money streams are and what leads to what expenses. Maybe you’re also already seeing where you spend more – or less –than you expected. You might discover patterns in your spending, for example in credit card bills or large cash withdrawals. Only once you know where you’re spending your money in the first place can you monitor and manage your spending purposefully.

Now it’s time to decide what portion of your monthly funds it is that you can and want to save. 10% or 20%, for example – that’s for you alone to decide. Some people even save half their income. It could be that they have their financial goals clearly set in their mind and know how much they have to save to reach them. It could also be that their mindset is one of financial deficit and that they worry about never having enough money, leading them to save as much money as possible on every purchase…

Where in your life could you easily save money?

With the actual numbers in front of you, it’s easier to pick out the savings potential. You shouldn’t look for savings opportunities in the things that truly bring you joy and make your life worth living. Rather, almost everyone has dials they can turn to spend less money, and in such a way that they lose little to nothing of value. This is money that you can instead be saving. You can even prioritize. Where do you find it easiest to save, where is it a little tougher, and where is it totally impossible?

That portion you came up with can be saved using an automated method, such as an automatic monthly transfer. Then you don’t even have to think about it every month – the money basically slips silently into your piggy bank before you can spend it.

Watch your savings grow

Remember to look forward to your flourishing savings! Set up regular summary notifications or make sure to take a look yourself. A lush, thriving savings account just feels good and is a tremendous motivator to keep saving.

It’s also beneficial to the saving process to understand your feelings about it. What do you associate with the word “saving” – what feelings does it bring about? Unattained goals? Or maybe a powerful tool that you can use to achieve a lot?


It’s also a plus to have a clear goal in mind. What are you actually trying to do? What do you want to achieve? It’s a big advantage if you can answer these questions. The more concrete your goals, the stronger the motivation is to keep pushing forward.