Do you lay awake at night wondering how you’re going to pay the bills next month?  If you always feel like you’re behind in earnings and over your head in bills, follow these recommendations from the financial professionals for getting your financial house in order. There are two ways to accrue short term savings. One is to reduce current spending and the other is to secure a part time job.

Pay yourself first? You might ask how this is possible, with bills mounting. Commit to setting aside just two percent of your take home pay each pay period and putting this in a separate savings account. Next, take a harsh look at your discretionary spending habits.  That morning designer coffee and lunches with friends can easily add up to four to five thousand dollars per year. Take advantage of sales and coupons.  Think twice before making each purchase. Delayed gratification will get you closer and closer to your goal each day. Take advantage of the awesome deals offered by Groupon coupon and shop the awesome deals available at Old Navy.

Consider your options for a part time job. This can be a retail position, child care or lawn care. Just about everyone has a skill set and an additional twenty hours per week that can be dedicated, on a short term basis, to increasing earnings.  Identify a position and commit to earmarking all of the earnings towards the short term savings goal.

As you begin to accrue a short term savings balance, you’ll also increase your peace of mind. Whether you’re saving for a new set of tires or a great trip, knowing that you have the ability and self- discipline to set aside earnings and savings from discretionary spending will start the course for sound financial planning.  Avoid the temptation to pull out your credit card for a sale – the interest charged will often exceed the savings. If you’re accumulating points or cash by using a credit card for everyday purchases, be sure to transfer the funds from your checking account to the credit card to avoid a ballooning balance at the end of the month.