Benjamin Franklin, one of the Founding Fathers of the United States of America, once said, “Beware of little expenses; a small leak will sink a great ship”. In reality, this is a fact that when overlooked can lead to financial collapse of even the wealthiest person on earth. The art of saving money whilst one has it is very essential if a person desires to be successful in life else the consequences of not being able to save for the future are always dire.

Almost every individual knows that he or she has to save some of the money that he or she makes for the future. However, the main stumbling block for most people with regards to saving money is how to start and sustain the practice. Below are the top 5 ways to save money;

Make a decision to leave your credit card at home: One major practice that has led to a lot of people being unable to save even a penny is the fact that they tend to take their credit cards with them everywhere. Once you have your credit card with you, the temptation to purchase things on impulse is also very high. This means that you might end up using money that should have been saved in buying things that are not really needed. So in order to be able to cultivate a very strong habit of saving, you should always make it a point to just take physical cash with you to purchase whatever you need when leaving the house to go shopping. It goes a long way in helping to reduce impulse buying.

Make use of your bargaining ability to always get a discount: The moment you decide to show off by paying for goods and services right away without asking for a discount marks the beginning of your failure to save. In these days that money is a very hard to come by, asking for a discount from a company you are buying from helps you to save some few bucks. In an article published on the Reader’s Digest, the author of Tricks of the Trade: A Consumer Survival Guide and How to Shop for a Husband, Janice Lieberman said, “In this economy companies may be more willing to give a ‘break.’ But you won’t get a deal unless you ask. Be reasonable. Come up with a figure you think is fair and ask for a price break. If you don’t get a ‘yes,’ ask to speak to the supervisor and state your case. Many times you will walk away with a discount.”

Take some time to make a firm decision: A lot of people are always in a rush to purchase something that they have seen in a shop. Always succumbing to such desires is a recipe for disaster. It is therefore very essential that you cultivate the habit of waiting for at least a day to know whether you actually need to buy something you saw in a shop the previous day.

Make your saving objectives known to family and friends: In order to be successful with your saving goals, you will need help from both family and friends. It is therefore very essential that you always make your saving goals known to family and friends so that they can also help you abstain from any kind of unnecessary spending or any habit that might derail your saving objectives.

Compare prices: To be able to start and sustain your money-saving habit, it is very essential that you do not always buy from the first shop or site that you enter. Take some time to compare the prices of a particular item that you need to buy by checking the price of the same item in different shops or sites. This will help you to find retailers with great deals for customers.

The desire to start saving money is always strong in people but following the above top 5 ways to save money will go a long way in helping to sustain that desire.