Saving smaller, regular amounts is often more effective than saving larger amounts now and again. This is because you get into the savings habit, and you’re not overcommitting too much money. It also lets you budget your spending from week to week or month to month more effectively.
If this isn’t possible, save what you can as regularly as you can. Every bit makes a big difference.
Just like you would save for a wedding or a new car, work out how much you need to put aside, and set up a savings standing order or Direct Debit for the right amount.
Visualising your end goal – whether you’re preparing yourself against a car breakdown or replacing an expensive item like the cooker or washing machine,– it will help you keep focused and on track as well. Keeping track with a chart up on the wall might help.
If you have debts, you might also decide whether it’s better to pay them off first or save and pay them back at the same time.