How to Reclaim Confidence in Savings
There’s nothing more frustrating than watching your savings account fluctuate. When emergencies come and savings start to dwindle, saving can feel fruitless, and our confidence in the value of saving starts to fade. If you’re feeling burnt out about growing your savings funds, the dollar a day practice might help. It’s simple – save a dollar each day. Every evening, place a dollar aside, preferably in a prominent space in your home. As you do, repeat a positive mantra to keep the practice positive and nourishing – no need to add any more stress to the situation!
A dollar a day might not create the emergency fund you’ve been hoping for, but re-building your confidence in saving in key. Participating in this practice may help you realize that even if you don’t have the funds, you have the capacity to practice saving. Besides, $30 saved at the end of the month can buy a pretty sweet reward for your hard work, or act as a significant foundation for future savings. Whichever you choose is besides the point – just remind yourself that you’ve got the strength to save the next day, too.
This practice is simply intended to build back saving confidence, but if you like the idea of micro-savings, we encourage you to explore other practices, like the 52-week saving approach where a little savings can accrue over time, or the penny jar approach that can make major change with your change.
ps – if a dollar a day feels like too much to sacrifice right now, you can easily practice this with any object. Symbolically place the same dollar into your bank each day, create slips of money out of paper, or put a small stone, piece of dried pasta, or any other object aside. The most important part is to start the habit.