Do you want to be in a better financial condition? Of course. Saving money or having a rainy-day fund is absolutely necessary. But just like most people, you can’t seem to figure out how. So, here are 7 simple ways you can save money without earning a dollar more.

1. Open a separate savings account

Seriously, this is single most obvious advice out there. Yet, most people that I come across aren’t serious enough to have a digital piggy bank (savings account). 

Having a separate savings account makes all the difference. For starters, it shows a commitment towards saving money. And once you get into the habit of it, you’ll end up putting a lot of money into savings without even noticing.

There is only one rule however, you can’t take money out of the account unless you absolutely need to.  

2. Track and reduce your spending

Whether you prefer writing on a diary or using an app, start tracking all the money you are spending. I know it’s a tedious job but it will give you insights on how much you are actually spending. 

And once you start churning the numbers, you’ll realise how much money you are spending unnecessarily. Identify and cut down on those unnecessary spending habits. 

3. Stop eating out frequently

This is a follow up to the second point I made. If you’re someone who likes to or has to eat out a lot, I bet you’re spending too much money on food. It is a fact that cooking at home is a lot more cost-effective than eating out frequently. In the long run, you’ll end up saving a lot of money, simply by not eating out so often. 

Don’t think it will make a difference? Refer back to point number 2 where I ask you to track your spending. Track how much you’re spending a month eating out and you’ll see how those few extra dollars end up costing much more in the long run. 

4. Spend money frugally

Stop spending money on things you don’t need. If you’re not seriously considering doing yoga, don’t waste your money getting a yoga mattress first. Can’t find the time to go to the gym anymore? Cancel that membership. 

Simply put, don’t spend money on things unless you really need them. Now I’m not telling you to be a miser (absolutely not!), but rather financially responsible. 

5. Automate your savings 

Try any automated savings option. In my opinion, this is the most effective method of saving money. Depending on where you are, you should have a range of options offered by your bank, employer or some investment firm. 

When you send a portion of your paycheck into savings automatically, you won’t even realise you’re putting off that money. Soon enough, you’ll have a substantial amount saved in your savings account.

6. Throw away your credit card

Here's a simple advice.

Don’t spend money you don’t have. Period. 

Most credit card holders put themselves into debt by spending money they don’t have on things they don’t need. Seriously, stop this. You don’t need a credit card. If there’s something you want but don’t have the money to buy it right off, buy it when you actually have the money to do so. Don’t use it as an excuse to get a credit card and rake up a huge amount of debt. 

7. Aim to be rich, not look rich

Too many people are trying to look rich, rather than being rich. What’s the end result? They get poor trying to look rich. If you’re spending money to make yourself look wealthier, stop doing it. You might not even realise that you’re doing it. 

If you can’t logically justify buying something, then you’re most likely buying it to show off. Don’t. In the end, you’re just hurting your wallet. 

In the end, saving money is a habit that you need to get yourself into. It’s always difficult in the beginning and it almost seems impossible. But take baby steps, start with small savings and get into the habit of it. You won’t regret it. Trust me.