Be Disciplined
To achieve any goal in life, one needs to be disciplined. Similarly, saving and investing too requires discipline. A disciplined approached helps you to remain focused on your financial goals. Formulate a plan and review it periodically to ensure that you are on the right track.

The 10% Rule
Your goal should be to save at least 10% of your total before tax earnings. This should be the minimum. Most millionaires live far below their means as they are disciplined and highly focused on their financial goals from beginning. They are millionaires because they have decided to be so.

Review Your Current Consumption Patterns
Conduct a careful study of your consumption patterns. Identify expenses that you can do without or explore opportunities to reduce your costs without overly sacrificing the item. Review items such as your cable bill, telephone bill, utilities, entertainment expenses and gas. Divert these cash savings automatically to an investment account.

Budgeting Plan
Budgeting is vital to any savings strategy. By breaking down your expenses you will see exactly where your money is going. Wasteful consumption patterns can be controlled through successful budgeting.

Plan to Make Your Saving Automatic
Set up an account that will take the money automatically out of your chequing account or pay cheque each month. Let the amount be directed to an investment account. This type of savings allows you to save first and spend the rest from your pay cheque.

And remember, even though saving may seem like a huge sacrifice today; think of the rewards you will reap in the long run.