As our daily living expenses seem to be constantly increasing, it may seem impossible to save any money. While there certainly is truth to the saying that “every little helps,” putting aside $50 a month may not seem worth the effort. And how many of us have attempted to stash some money in a piggybank only to break it a couple of weeks later for an “emergency.” Piggybanks aren’t the best place to save your money. Instead:

1. Open a savings account. To make things easier, you can set up a direct payment automatically, so that your saving amount is transferred straightaway to your savings account on payday. You can also block your savings account for various time periods. Both options ensure that you will be less tempted to spend your savings. Sometimes we all need a little help!

2. Create a budget. Study your spending habits by noting down how much you earn every month, your expenses, and what’s left. If you’re not sure, keep a diary for a month and note down everything that goes in and out of your account.

3. Get interest. Make sure you get the most out of your savings plan and choose a savings account that pays the highest interest rates. The more you save, the more interest you make. Let your money make more money for you!

4. Identify savings goals. Your budget will help you identify how much money is left over at the end of the month. Decide on a set amount that you are willing to put aside each month. Be realistic with yourself; don’t set an amount too high or too low. Make sure you consider unexpected or yearly payments, such as your car insurance.

Following the above steps will make saving hassle-free, and you will soon find that having some money set aside is reassuring and rewarding.