money-finance-bills-bank-notes-large When you’re young, saving isn’t a priority. But it is important. That’s why you need to start understanding why it’s important. The reality is that the majority of South Africans can’t afford to retire comfortably. Most young people don’t save at all. And if they started sooner, retirement would be that little bit more comfortable. Set aside money from day one It’s important that you start saving money from your very first day at work. Financial advisers recommend you set aside at least 10% of every pay cheque from your very first job. You’ll not only be starting your savings fund, you’ll be beginning a culture of savings which will be with you for the rest of your life. Taking that first step is essential in starting to save. The great Nelson Mandela said: “It always seems impossible until it’s done.” And when it comes to saving, once you set up that automatic transfer into your saving account or retirement account, it’s as good as done. You’ll never miss that money you don’t see. Start tracking your spending The reality is that you can't save your money if you don’t know where it’s going. That’s why it’s important that you have a budget and track your spending. By doing so you’ll know what you’re spending your money on and where you can cut expenses. The money you save on meals out, morning coffees and a new trendy, wardrobe will allow you to set some cash aside for the future. Seek help from the professionals The reality is that you can't do it all yourself. You can be good at your future job but that’s why you need to trust a professional to help you plan your financial future and be good at their job. A financial adviser can assist you with investment outsourcing, help you manage your goals and will advise you on the best ways you can save. Picture your future self Research has found that one of the reasons young people find it so hard to save is that they can’t imagine themselves in 30 or 50 years. Picture your future and imagine what your life will be like. Do you see a comfortable retirement or a life of desperate scrimping? If it’s the former, as it should be, you need to take steps now to make that a possibility. Saint Francis of Assisi famously said: “Start by doing what's necessary; then do what's possible; and suddenly you are doing the impossible.” Image: Pexels