It is a universal fact that all employees and workers look forward to payday. After all, getting paid for doing their jobs is one of the major reasons why they are working in the first place. Likewise, it is nice to enjoy the fruits of your labor at times. You can go on a vacation, splurge a little bit for yourself, or donate to a local charity. Then again, it is also nice to save some cash for the rainy days.

Speaking of saving cash, most of us would agree that doing so may not be easy as it seems. In fact, it requires discipline and even self-control so as not to overspend and zap up your hard-earned money. On the contrary, saving money should not be a burden for people after all.

If you want to be debt-free and won’t fear losing money before you realize it, here are some ways to set aside extra funds for your own good:

1. Keep track of your expenses.

In order to save cash, you must first find out how much you spend regardless of daily, weekly, or monthly. Such expenses include everything, from buying coffee, going to a salon or spa, to paying tips at the local restaurant.

Once you have the details, add them all up and subtract all of these expenses to your total monthly earnings. From there, you will know how much you spend in a given period and may help you get conscious of your future spending because of that.

2. Create a budget plan.

So you already have an inkling of your estimated spending per week or monthly – including fixed expenses such as monthly car loan payments — versus your total earnings. From there, you can plan your budget and determine ways how to limit your spending when possible.

Likewise, you can also set your target savings per week or month when you do your budget plan, and make sure to stick to that plan. Ideally, 10 to 15 percent of your total income should go into your savings.

3. Allot your total earnings per category.

For example, a certain percentage should go to your “fixed expenses, while another percentage should go to your household expenses like groceries, and another one on “leisure” purposes such as movie dates and dining out. The remaining money should go to your savings right away.

4. Ask yourself what you are saving money for.

To encourage yourself to save money consistently, set a goal of why you are saving money in the first place. Are you getting married soon? Are you planning to get a new house or a car? From there, you would have to determine how much you need to save every month and how long it will take for you to save the amount you need.

5. Set your priorities.

After setting your goals, determine which of those goals should be top of your list. It can be one wherein you are planning to buy a new car or a new house for a few years. However, that does not mean that you should not set aside savings for your “long-term goals” such as your kid’s college education or your retirement, for example. If you can manage, you can start saving small amounts for such goals as early as now.

6. Monitor your savings often.

Come payday, it should be mandatory that you automatically set aside a specific amount of money as part of your savings – no if’s and but’s. Watch your savings grow and you might even get encouraged to save some more. You can deposit your savings in a trusted bank and create an account, or use it as an investment to make it grow further through the years. However, make sure to consult a trusted financial expert or do some research yourself on how you can maintain your savings growing.

Having savings to your name is crucial as part of what many people call nowadays as “adulting”. For one, it teaches you to be responsible with your own money, considering that you are already earning cash on your own.

Saving money can help you prevent resorting to loans and debt which can be stressful in the long run if not dealt with carefully. On the other hand, having savings can also help you sleep well at night because you know you have extra cash with you in case of emergencies and for your future plans.