By Justin Wingfield

This being the very first article, I thought it best to kick of with a few fundamentals of why we need to save. Indeed, when we are young and starting out in new careers, there are a mind blowing number of financial issues to consider. Saving is simply one of these.
 
But how important is it to save when there are so many better ways of spending our money? Sure, life must be enjoyed and spending your hard earned money on cool things is always very enjoyable. But, never underestimate the importance of saving. Indeed saving is the only way of creating wealth and therefore improving your long-term financial well being.

Saving can be undertaken in a number of different ways, and I will talk about those in later articles, but for now let me start by giving you a few tips on how to start saving.
 
Step 1: Think about the future
Take time to consider what is most important to you. What are your medium and long term goals? Is it getting your first car or home? Is it retiring early, or perhaps even building your own business?
 
Step 2: Draw up a plan and a budget  
Draw up a plan for your goals and work out a budget. Consider how your are spending your disposable income. Nothing left? You may therefore need to reconsider your spending habits. Be a little more circumspect and give greater thought to the things you may not really need. This will certainly make way for a little if not a lot of additional disposable income.
 
Step 3: Keep your discipline
Now that you have a plan, goals and are running your budget effectively, keep developing the discipline. Discuss your plan with a financial advisor and consider ways of investing and therefore growing your money, in a manner that suits you best.