Best Saving Habits to Manage Personal Finances

saving habits

Saving money often appears like a chore. The truth is it’s more of a habit to implement than a burden to work on.

Previously, we wrote a step-by-step guide to managing personal finances by establishing a budget. In this article, we’ll tackle useful saving habits to develop when looking to save money daily.

Saving goals

The first step to saving more is to target specific savings goals. Whether you’re looking to complete a large project like buying a house or a smaller one like purchasing a tech item, it’s important to select a specific goal. The closer you get to achieving it, the larger the feeling of accomplishment.

Finnt is building an app to enable easy savings goals for yourself and as a family. To learn more about Finnt App, visit our website.

For a first savings goal, we recommend targeting smaller amounts or something you’re really yearning for. That way you won’t lose the motivation and discipline along the way.

The rule of twice

Often, people and financial experts will advise you to spend less than you earn. This seems pretty logical and straightforward. However, credit cards make it more difficult to resist the temptation to get into debt. One way to prevent overspending is to use a debit card instead of a credit card.

Another way is to restrain yourself by setting up a budget or a spending limit. For instance, you can use the envelope method and allocate specific amounts for each category each month. One of these categories will obviously include savings.🙂 

The rule of twice is also proven to be super effective. It’s simple: don’t buy anything you can’t afford at least two times. For instance, let’s say you want to buy a $3 chocolate bar. Do you have $6 in your bank account (savings account excluded)? If yes, then proceed. If not, restrain. And this works for smaller amounts, but also for larger ones.

Savings accounts

Accumulating money is not necessarily a problem. What is, however, is inflation. The more you pile up money without generating interest or getting some type of ROI, the more you lose. Therefore, having money work for you is important.

In the early stages, you may not want to invest in risky projects. In that case, you should at least set up a savings account. Most banks require that you block the money for a certain period of time. This isn’t a bad idea, if you’re sure you won’t need the money. And thus, have an emergency fund on the side.

Finnt App currently offers 4% yearly returns from the moment you deposit and without blocking your money. You can open an account with SSN or ITIN and start saving in USD immediately.


Budgeting is a habit that requires a little time investment in the beginning. Once it’s set, however, it makes it much easier to target savings goals. To figure the right budgeting technique for you, observe your consuming habits. Then determine cash envelopes for each spending category. Last, make the cuts where it’s proven useful or necessary.

You can check our step-by-step budgeting guide for more information.

Lifestyle changes

Ultimately, making a habit of saving will impact your lifestyle. Keeping your belongings to a minimum will truly help avoiding overspending. Becoming a minimalist is indeed a great way to save money.

Being minimalistic isn’t only about objects. It’s also about food, leisure and other expenses. Anytime you can avoid spending, follow through and save the money instead. It’s the small gains that build the big one.

Build your mindset

What really makes a difference when building saving habits is building your mindset. As previously mentioned, keeping in mind there is no small gain will help you optimize your money on every level. 

Another important aspect of mindset building is your environment. Who are you spending time with? Are your friends and family willing to encourage you in your savings journey? Or are they discouraging you in your endeavor? Depending on the answers to these questions, you may need to surround yourself with more positive influences.

Build the right habits

Of course, it’s no use to become too extreme from the beginning. Being too focused on how much you spend can also have a reverse effect, psychologically and financially. However, choosing to make the right sacrifices is important.

Once a month, you can sell the clothes you have worn or the objects you haven’t used in the past six months. You can also review your automatic subscriptions. Maybe you don’t need five different streaming platforms… Slowly but surely, you can review the brands you’re purchasing and go for cheaper options. 

Building saving habits takes time and effort. It’s a step-by-step process that’ll benefit you in the long run. The earlier you start, the more profit you’ll benefit from.

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