Learn How To Save Money With This Simple Strategy

Posted by under Money Saving Tips . Published: September 27, 2019

Do you want to learn how to save? We can all agree that it’s important to save, but why do most people fail at saving money?

If you’re one of those people who have been struggling at saving money, then I’m going to share with you today a simple yet effective strategy.

A simple saving strategy that you can do


Do you want to learn how to save money? Then you just need to do two things.

First, set aside a piggy bank. You can buy one or you can recycle an old container. Personally, I reuse Pringles canisters. Second, save 1 peso every single day for at least 3 months.

And that’s it!

I guarantee that after doing this, you’ll be able to continue saving money without difficulties. That’s right, if you do this strategy, saving money won’t be a problem for you anymore.

Sounds easy, right? Yes, it is! But does it seem like a stupid idea? Some people will say so, but I don’t think it is.

A friend, when I told him about this strategy, actually laughed and said it was silly and weird.

He claims that he’ll just put 30 pesos in it so he’ll be done for the whole month. Moreover, he asks me what good is P90 after 3 months? You can’t even open a bank savings account with that amount!

That is true, 90 pesos isn’t life-changing… but is it?

Changing your life with mini-habits


In 2013, Stephen Guise published the book, Mini Habits: Smaller Habits, Bigger Results, which eventually went on to become a highly-acclaimed, best-selling book. The principles taught in this book is what you’ll be applying with the strategy I just shared.

So why does it work?

First, one peso is such a ridiculously small amount that it’s almost impossible to fail at doing it. Even if your budget is really tight, putting P1 into your piggy bank won’t be a problem.

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According to Stephen Guise, the easier it is to do something, then the easier it is to sustain. You don’t even need willpower or motivation to accomplish it. Doing a mini-habit is quick, simple, and painless.

Second, a study published in the European Journal of Social Psychology by health psychology researcher, Phillippa Lally figured out that on average, it takes about 66 days before a new behavior becomes automatic.

Thus, saving every day for 3 months is more than enough for you to make it into a habit. Yes, you will learn the habit of saving if you do this strategy.

Isn’t that great?

Building on your mini-habit


It’s important to know that every great accomplishment rests on the foundation of what came before it; when you trace it back, you’ll see one small step that started it all.

A mini habit is basically a much smaller version of a new habit you want to form. And in in this case, it’s saving money.

Just remember to never, ever cheat. Do it every day and remind yourself how easy it is. More importantly, don’t hesitate to save more than P1 if you feel like it.

Setting aside P1 every day is a VERY small positive behavior, but it allows you to build momentum towards a meaningful goal.

There will be days that you would probably save P20 instead of just P1 – go ahead and do that. It will feel great to put a higher amount, but without the pressure to do it everyday.

And then later on, you can use the money in your piggy bank to start building your emergency fund. When it becomes full, I’m sure there will be enough money in there to open an account.

Rinse and repeat until you’ve saved about six months worth of your expenses in the bank. And when you reach this point, the habit of saving would already be hard-wired into your brain. It’s already automatic and effortless.

Congratulations, you’re now one step closer towards achieving financial freedom.

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3 Responses to “Learn How To Save Money With This Simple Strategy”


  1. Jack says:

    I truly love this concept for building savings. I think this is not just for adults but also for the youngsters in your home! When I shared this with our young troops I also pointed out that they would be saving double in one sense. My countries currency has the US one cent coin as the smallest denomination. One hundred of those little coins equal one US Dollar. There are approximately 52 peso to the Dollar at this time, so a Peso coin is worth about two US cents. In effect, if I saved one cent each day but our crew saved a Peso, they will have saved DOUBLE what I did. They are now excited about the “power of the Peso!!!”

  2. claira says:

    I love the idea on saving money, but I prefer investing money rather then saving in the piggy bank, let your money create more money.

  3. […] discussed this strategy in a previous post. I shared that if you want to learn the habit of saving, then commit to saving just P1 each […]

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