Stay Motivated to Save, Even While You're Flush With Cash

It’s one thing to save money out of pure necessity, but another when things are going well and you’d rather enjoy your life than save for your long-term goals. So how can you keep the momentum—and motivation—going? Here are some tips on how to keep up your savings when you don’t have to.
How to keep saving

Reorder your priorities

So maybe you aren’t living paycheck to paycheck like you once did, or need to be as aggressive with paying off debt. You can check your list of long-term goals to figure out what your next “big-ticket” item is. Do you want to start saving for that epic road trip? Or maybe you’d like to save for a new bike project. Take as much time as you need to suss this out; rushing things may cause you to take two steps back down the line. Whatever it is, figuring out which goal you’d like to tackle next will help you stay on track and get pumped about saving again.

Envision your new future

Take time to think about and envision how you want your future to be. For instance, do you want a robust emergency fund that is more of a getaway fund to not work for a month or so? Or do you want to have the resources to run a successful side business? Or maybe just more time to spend with your friends and family. You’ll be able to exercise willpower when it comes to splurging when you can imagine traversing across the U.S. in your dream RV. Picturing how you want your future to be will not only help you keep saving, but will solidify what it is you really want in life.

Don’t change your current system

If you’ve spent time building a current system and it works, changing it up might derail you from saving. For instance, if you had been focused on paying off your credit card and just finished making your last payment (congrats, by the way), don’t stop automating payments or delete your existing savings account. Instead, you can put your system and habits you’ve already developed to good use by saving for another goal. If you have an account with us, you can easily rename an existing goal in your account and make tweaks to the amount and time frame for your new goal.

Feel free to splurge—within reason

Now that you can afford to splurge, feel free to do so. Don’t let lifestyle inflation gobble up extra money you’ve earned by upgrading to a more spacious apartment or getting a loan for a new car right away. Instead, try splurging in a planned, deliberate way. For instance, try adding a little more to your buffer fund, getting that video game subscription, or adding X number more dollars to your beer fund each month. Instead of going all out in all areas of your life, figure out what would really add the most value to your life and put your focus and resources toward them. Splurging is fine, so long as it doesn’t put a stop to any savings goals you’re working toward.

One thing you can try is having a separate fund from your fixed expenses (read: expenses that don’t change from month to month, such as your bills, utilities, student loan payments) for your variable expenses, which are things that do change every month. If you divvy up the two, your income won’t be mixed in a big, messy pile, and you can more easily monitor your variable expenses and make tweaks as you go along.

While it may be tough to keep saving when your money situation is going well, you won’t want to kill the habit of saving by stopping. By doing a few basic things, you’ll be able to keep up the good flow on your savings. Don’t worry, you got this!

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