Here are some financial planning tips on how to make the most of savings:

1. Make it a habit rather than a choice: If you are a beginner and want to get into the habit of saving, you must not think of it as a choice. Saving is typically the essential thing for futuristic financial security; hence, you must save – whatever you can every month. Try to make it a commitment and stick to it.
   
2. Set your saving goal: Once you’ve begun this journey, it is critical to analyse how much you can save by examining your expenses and income. However, in no case, should your expenses be higher than your savings. You should set a defined saving goal (ideally 20% of income) to be achieved every month, and in no case, can there be a miss. Your saving goal should be set first, and then your budget can be created. Also, your savings goal should increase with an increase in income.
   
3. Set a date and make it automatic: The best thing that you can easily do to meet your saving goal is to set a date for savings or even better automate the deductions from your bank account. It is best to select a date near to the time when your salary is freshly credited. Recurring deductions ensure you do not miss to save. Also, you can choose to set them aside in a different bank account, which you use less frequently.
   
4. Save first, spend later: Though most people tend to do the opposite of this, but to be smarter, you must save first and then spend. As and when the salary is credited, you must set aside or automate your savings first and then make your budget rather than spending first and saving the leftover. As per the latter way, savings will always vary, and the goal will not be met.
   
5. Save all extra money: In case you happen to earn some extra money, you must not think of splurging, instead, save it. Think of it as a long-term investment; sacrificing now will give a boost to your savings for the future. 
   
6. Prioritize spending: To save better, it is best to prioritize what you spend and how you spend. Always keep the non-discretionary expenses on top, followed by high-interest debts, and then make some way for discretionary expenses. Always evaluate your debts, if a credit card interest is more than a personal loan interest, pay off the credit bill first and then personal loan amount.
   
7. Watch your habits: To make the most of your savings, it is important to keep a watchful eye on your habits. Cancel all non-essential expenditures such as rarely sued subscriptions, unused cable, additional phone plans, unrestricted dining out, etc. The mantra is to learn to live far, far below your means and save way above your limits.
   
8. Increase your money: The most important financial planning tip to make the most of your savings is - to increase your money, or the whole fundamental of saving is pointless. It takes money to grow money; hence, primarily, you must save, but it is equally important that you direct these savings in places where the money grows. Though the selection of investments should be made very diligently, they should be less risky and high rewarding, such as insurance policies, and other investments avenues which suites to your risk profile etc. If the money you save now does not account for inflation of the future, it is worthless to save. Hence, you must save but direct your savings well.
   

It is a little tricky to know how to plan finances and make the most of your savings, but if you analyze, these simple tricks can go a long way to provide you with the desired financial security. Saving is a behavioural choice that you must make. Baby steps now can build you the future of your dreams. 

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