We've all been there time and time again: The moment our eyes land on what we really want, we tell ourselves, "If only I pull a few dollars from my savings, I can purchase this. After all, I truly need it!"
But do you really?
Is it worth it?
Before dipping into your savings, determine whether a withdrawal is really necessary. What was the purpose of establishing your savings account? Did you establish it for an emergency? Or did you want funds for a home down payment?
Try your best to use the funds only for their intended purpose. My savings is totally off limits unless someone is truly in need, or there is an unexpected expense I simply cannot avoid.
It should take an act of Congress
For me, it wasn't always this way. As soon as I saw a dress or shoes that caught my eye, I dipped into my savings.
To prevent this, I made it tougher to get access to my money. I began to seek accounts where it practically takes an act of Congress to withdraw my funds.
If you have a hard time saving, consider a similar approach. Use techniques that present certain barriers before you can make a withdrawal.
For example, when you open an account, consider forgoing the debit card that comes with it. This will make it just a little harder to access your money.
Keep your eyes on the prize
More importantly, keep your savings goals in mind and try your best to stick to them. Of course, sometimes we may fall short. But try to remain steadfast until you have claimed your victory.
The feeling you will obtain after reaching your goal will provide you with the encouragement to save more and more.
Kemberley Washington is a CPA and professor. Visit her blog at Kemberley.com. Follow her on FaceBook or connect with her Twitter. Like, Love, Tweet or Share this post!