How to stay disciplined with your savings

Saving is one thing and spending your savings is another. Here are some tips;
•    Pay yourself first!
•    Gather all important financially-related documents and receipts to a central location.  File them so you will be able to easily find the items you need in the future. Consider a computer based financial program so you can keep track of every dime you spend – financial control is a special form of power!
•    Spending every dime and more? Start by cutting back on a few items per week and putting away that money. Pay yourself first. Just say no to spending more than you have.
•    Ask for direct deposit at work if they offer it – you’re saving money, and you don’t even see it. A savings plan at work that pays you a “matching contribution” is the fastest way to save. Pay yourself first!
•    Do not use credit cards. Force yourself to pay cash so that you can track the dimes. You will never have a late payment (now as much as $75) and you will never pay interest to others at the very high rates credit cards charge.
•    Financial freedom will be worth everything you put into it.
Top saving mistakes

•    Not modifying your spending habits and committing to save money.
•    Not taking advantage of your company’s contribution plan.
•    Not appropriately/correctly allocating your assets to meet a specific goal or time horizon (diversification is important).
•    Not setting a specific rupee target or financial goal.
•    Not knowing how much you have, where you are spending your money, and how much you need to save for the future (failure to plan for retirement).
•    Cashing out your retirement plan.