Many of us dream of taking a big vacation or purchasing a home, but without a plan it’s unlikely we’ll save the cash we need for our goals. Here are a few ways you can get your savings on track:

Make It Automatic

One of the best ways to start building up your savings account is by automatically diverting a portion of each paycheck into your savings account, even if it’s just Kshs.2,000. If you get a raise or pay off a debt, keep your cost of living the same and lump the extra cash into your savings deposit.

Cut Your Costs

If you find yourself running out of cash between paychecks, search for ways to decrease your expenses. When you review your budget, start by looking at your biggest expenses first, since reducing or eliminating them will make the biggest impact. Ask yourself, “Can I cut this cost, even just for a few months?”

Another great way to curb unnecessary spending is to review your credit card, mobile loans and bank statements. Look to see if there’s a recurring cost you can cancel, a store you can stop shopping at or a service you can go without.

Earn Some Extra Cash

Cutting costs isn’t the only way to make more room in your budget. For many people, an increase in income can create a lot more room in your budget than cutting back on expenses.

Can you take on a side job or a new job, or ask for a raise? Can you rent out a room or sell old equipment or instruments? The increase in cash doesn’t have to be permanent, as long as it helps you jump-start your savings.