“Save a part of your income and begin now, for the man with a surplus controls circumstances and the man without a surplus is controlled by circumstances” – Henry Buckley

Today’s 4^th September, 2012, a few days after payday. With kids going back to school and with the ever increasing cost of living, chances are you are not left with much. Any unexpected expenses that may arise could result a ruined month for you. And no one wants to be controlled by circumstance.

The only way you can avoid falling victim to circumstances is by having cash set aside for emergencies, but again saving up for emergencies is a hustle for many.

How can you save for emergencies?

It is important to begin by identifying why it’s difficult to save money.

Jeremy Vohwinkle, former About.com Guide states that most people save money as an afterthought. After they get their income, it’s allocated to bills, groceries, rent or a mortgage or daily expenses among other things. Whatever is left, that’s if there’s any left, is allocated to savings. With the rising cost of living, one is hardly left with money to save.

Technological advancements are making it easier to make saving automatic. Vohwinkle advices those who have direct deposit of their income through their employer to have part of their paycheck directly deposited into a savings account. It doesn’t matter how small the amount sent to the deposit account will be, you will rest assure that you will have money saved every time you are paid.

There’s also the option of linking your current account to a savings account by having your bank establish an automated transfer between accounts at a regular interval that you select. It you cash your paycheque every other time, an established transfer of a set amount of money from your current account will be transferred to your saving account.

A simple fact that is hard to learn is that the time to save money is when you have some – Joe Moore