Whether earning in thousands or a millionaire, saving money is not an easy game as more a person earns, more his expenditures increase. In fact, the toughest thing about saving money is to get started towards the goal as sometimes even the beginning step remains a far off dream.

The first step to start is to record your expenses and make a note of the things on which you spend. In fact, from a cup of coffee to the dinner taken in a restaurant, everything should be included. After having the complete data of the month, you can categorize your expenditure and find out the things on which you are spending extra. It will motivate you to control your spending in that category. In fact, it will also help you in making a budget accordingly and control your expenditure to a large extent.

Then, you need to plan about saving some amount of your income which must be started with around 10-15% of it and slowly increased. The best way to save this amount is to first take out the saving money from the income and then spend the rest. It will help a lot in limiting your budget and save you from spending on extra things which were not much required.

To motivate yourself for saving more, you can make some saving goals like buying a car, renovating your house, going on a long vacation, money for retirement. These goals will keep inspiring you to save more from your earnings.

Once the process of saving starts, you can also start investing money in various mutual funds. In case, you have less knowledge about investments, you can take the help of a finance adviser who can guide you in a better way.

A. Singh