Start Saving Your Nest Egg

One important aspect to becoming debt free is to start saving for a rainy day. This is not really as hard as you may believe and it doesn't have to be done in large increments. For the next month, write down where every penny you spend goes. I'm sure that if you are like 90% of us, you will see items on that list that are not necessities at all. After you know where your money is going to, it makes it easier to find ways to cut your spending and increase savings.

The saying is "Pay Yourself First", I know that sounds difficult when you have debt but how many of us know people that donate 10% to the church each week and yet have no savings built up for an emergency? I am not in any way saying don't donate, but instead saying donate only when you can afford to do so. Your goal should be to save a little money each week until you have built up at least enough savings to last 3-6 months in case of an emergency. This can be done $10 at a time if need be, as long as your savings are increasing, you're on the right track.

I myself am known to stop and pick up every penny I see laying on the ground, change adds up fast. Yet so many people, heavy in debt, are quick to discard loose change as if it were worthless. This is so counterproductive it amazes me. More good places to get extra money to save is from your tax refund or from a raise at work. You were living without it before weren't you? There are literally hundreds of ways to save a little money towards your goal, be inventive.

Saving may start out slow but if you work at it and get creative enough, you will watch your emergency fund grow by leaps and bounds and having money to fall back on in hard times will allow you a little less stress in your life.