Get a life insurance premium and deposit money there every month so that it can be saved. - Digital -
I view saving money like not smoking cig's... When you have an opportunity to spend money, just say no! (within reason)
I am second that. Invest in MF schemes if you want it to save for a longer period for getting higher interest. DON.
If you can just tell yourself not to spend money on stupid stuff, I believe you will be well ahead of the ball game!
Firstly, set yourself a budget to work on between paychecks. Lets say you put 5-10% into a savings account aswell... then look at removing a few luxuries that you can live without. There's a tonne of methods, heck even substituting expensive items with cheapers ones will work. The easiest way is to set a budget and live within the constraints of this budget
Get two bank accounts, live off of one and put your savings in the other, better yet get an interest bering account.
The first thing that any good financial expert will advise you to do when setting out on the path to savings is to make a budget. An accurate budget will allow you to identify all of your necessary expenses, which in turn will give you the ability to calculate exactly how much you can afford to set aside for savings.
Don't take a bath (save on water bills) Don't use anything electronic (save on electric bills) Don't use any sort of transportation aside from walking & running (save on fare & gas money) Stop subscriptions - e.g. internet, cable, magazine, newspaper subscriptions (save from subscriptions) Stop buying new clothes (save money on shopping expenses) These are all practical tips, you will survive without all of these things. As you can see, I never advised for anything impossible such as "Don't eat" or "Stop buying groceries" because of course, that is impractical.