All of us dream of being rich and successful, but how far are we willing to go to achieve that dream? It’s a question that’s ever-present in our society, in the push and pulls between working hours and personal life, in how much effort we’re willing to put into raising our income.

Ironically though, most people put a tenth of the effort into saving that they go into making money. For whatever reason we as a society tend not to value saving as a way of reaching financial success, which is a pity since saving has a fair few benefits over income: it’s scalable, less work-intensive, and tax-free.

How much will a commitment to saving impact your daily life though? What will you have to sacrifice? That’s what we’re here to answer today. We’re going to break down methods of saving by how intrusive they are.

Level 1: Changing Little Things 

This level of savings is largely about cutting out the small, extraneous things in your life that you don’t need and won’t much miss. For example, instead of getting coffee every morning, get it every other morning, or better yet don’t get it at all. It may seem inconsequential, an expense that’s too small to notice, but little amounts over a long period of time can add up to big amounts.

On the reverse side, apps like Acorn take the extra change left over from your purchases and put them into a dedicated savings account. This is such a small amount you’ll never notice in the moment but will save you money in the long term.

Level 2: Cutting Out Luxuries

This level begins to cut into your life a little more and requires a greater commitment to saving. Vacations, eating out, and expensive clothes all fall into this category. They’re luxuries things that are nice to have but not by any means necessary. It can be a bitter pill to swallow to go without them, but if you’re serious about saving, then they have to go by the wayside.

In terms of investments, at this level, you should start taking advantage of a 401k (if your employer offers to match) and more active forms of retirement then letting your money sit in a savings account.

Level 3: Making Sacrifices 

This last level isn’t necessary for everyone, but if you’re dead set on saving all the money you can, then it’s what you have to do. At this level, you’ll start actively sacrificing things to save money: living in a cramped house for example, or forgoing a car to avoid the cost of monthly payments and gas. These measures are extreme but will save you money at a much higher rate than the first two levels combined.

Flex Loans

If saving simply isn’t an option and you need cash immediately, a viable option to get you out of your financial problems may be a flex loan. Flex loans are a type of short term loan that’s fast and convenient and designed to help you dig yourself out of whatever financial hole you find yourself in.

Note: The content provided in this article is only for informational purposes, and you should contact your financial advisor about your specific financial situation.