Saving money can be hard.
It's a long game, and the end is typically pretty unclear. There are temptations along the way and a hypothetical "10 years from now" can feel too far away to worry about.
But what if it wasn't?
Watch: 3 money hacks that don't cut out your daily cup of coffee. Post continues below.
This week on Mamamia's money podcast, What the Finance, finance expert Melissa Browne covers all things savings and debt with co-host, Pallavi Sharda.
And she shares a super handy way to make saving money easier to manage.
Mel wants you to set 'sprint goals' when it comes to your savings. Because not all of us are built for marathons.
Listen: Finance expert Melissa Browne shares her best saving tips. Post continues after audio...
"Think of 'doing money well' in 30 to 90 days sprints," she says.
"What can you do for the next 30 days? It might be, finding an extra $834 worth of income outside of your regular income, which would allow for an extra $10,000 a year, or canceling just one subscription service."
Set a financial goal, big or small that you can work towards in short bursts.
Some examples are:
- Saving $5,000 by the end of the quarter, whether it's by reducing expenses or increasing income.
- Searching for a better deal on your utilities.
- Renting out your driveway.
- Offering your services on Airtasker.
- Renting or selling your clothes.
That's the art of the sprint. There's a definitive start and end to your goal that will leave you with some extra cash to go towards your savings.
But wait, what are we saving for again? Good question.