Have you ever heard of “soft saving”?  If not, it’s time to learn about it.

Soft savings is considered an adaptable and low-pressure way of saving.  It supports progress over precision.  So, what exactly does that mean?  Instead of sticking to saving 10% every paycheck, soft saving suggests you save whatever you realistically can, when possible, and without guilt if you can’t every paycheck.

The bottom line with this method is that you may not be able to save a set percentage every paycheck.  After all, life does happen.  If your income varies each paycheck, you incur an unexpected expense, or something else comes up, you may not be able to save traditionally.  And, some people get discouraged because of an unworkable savings plan.  But when you implement a soft savings plan, it at least keeps you saving something, even when times get tough.

How does it work?  You can put away small amounts of money whenever possible, momentarily stopping your savings when the funds are tight, and giving precedence to your needs before moving toward your fiscal goals.  Your objective is to make your savings plan viable, not to disregard it.  Putting away ANY money, no matter how little, is still headway.

This method isn’t a justification to disregard planning, or not to save at all.  It’s not about ignoring your fiscal objectives.  It’s about adjusting them to your actual situation.  Because some people need to rebuild their financial lives after stresses or erratic income, they start using soft saving as their beginning step.

Moral of the story:

People increase confidence using soft savings because their stability recovers.  They then move towards more formal savings behaviors.  Soft savings removes fears and/or guilt from the process, thus making long-term advancement more possible.  It’s far less stressful.  And isn’t it nice to know there are other ways to save besides the standard method?!?