Many of us dream of owning and, better still, driving a classic car, but lack the funds to do so. Of course, winning the National Lottery is one, albeit remote, possibility but, failing that, or some other outrageous stroke of luck, raising money for the car of your dreams probably comes down to putting away a little at a time.
Saving, even for something as exciting as a classic car, requires a little effort on your part, but once you develop a thrifty mindset you should find that setting money aside becomes common nature. Keep track of your monthly expenditure and compare it with income to create a monthly budget. Set yourself a monthly savings goal of, say, 10% or 15% of your income.
If your monthly expenditure is such that you can’t save at least 10% of your income, it may be time to cut back on luxuries, such as alcohol, tobacco and gambling. Of course, the other alternative is to generate extra income, possibly by taking a second job, in the evening and/or at the weekend. However, you can only work so hard, so you might be able to supplement your income by moderate, but successful, gambling. Gambling, by definition, involves a huge element of luck, but you can follow these handy tips to make the most of the opportunity.
Whatever your chosen method of saving money, transfer funds from your current account to your savings account at the start of the month, rather than the end, in the case of your salary, or as soon as they become available, in the case of gambling proceeds. That way, the money won’t ‘burn a hole in your pocket’ and you’ll still have it at the end of the month.