How the ‘Undisciplined’ Can Save For the Future

Every year, I promise myself to save some money for future needs. But at the end of each year, I always get disappointed because I do not get to save enough money. So I start over and then wish that my savings goal will come true. Here’s the truth: discipline is a key to saving money. And I do not have discipline. So, here’s what I did to make sure that I have savings at the end of each year.

I signed up for an auto-debit program. Last 2009, my bank offered a home starter program wherein your account will be debited a certain amount each month for a period of three years. Aside from being a savings program, the money that will debited to your account is treated like ‘bonds,’ which earn higher interest compared to a regular savings account. At the end of three years, you can withdraw the money you saved or you can use that money as downpayment for buying properties or for starting your own home.

If you have a savings account already, you can simply go to your bank and ask for automatic debit programs linked to your payroll account. That way, each time that you will receive your salary, a certain amount will automatically be deducted to your account to form part of your savings.

This year, I also promised myself to invest in stock market. I do not plan to trade, since I do not have that much knowledge when it comes to trading. I just plan to invest a few money, the same thing that Bo Sanchez’s maids do with their salary. They save a part of their salary and invest in stock market every two or three months. After reading about it, I got inspired and told myself, that if Bo’s maids can do it, I can also do it. One good thing about this is that I signed up in Bo’s club so every month, a reminder will be sent to my email, reminding me to invest, invest, invest.

These are just two strategies that are working for me. How about you? How do you save for the future?

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