If you want a new mobile phone then you may worry about how you will pay for it. Some people get a contract with the phone included, but this is not suitable for everyone. If you want one then you may wonder whether you will have to get a loan to pay for it as they can be expensive. Alternatively, you might think that you will have to go for a cheaper model that you do not really like. However, it will be possible to save up for what you want. This will mean that you will not have to concern yourself with getting a loan or thinking that you will have to go without the phone. However, not all of us are that good at saving or perhaps may not even know how. It is actually a lot easier than you might think.

• Find out how much you need – firstly you need to know how much money you will need to pay for the phone. It is good to compare the price across different retailers both online and offline so that you can see who will give you the best price. It is likely to vary and if it is an older model you may even be able to find it second hand or reconditioned which could be cheaper. Do bear in mind that the price may vary though, but it is most likely to go down rather than up unless it becomes collectable. It is wise not to assume the price will go down before you buy as if it does, you will just have saved up extra money. You can always closely monitor the price just in case.
• Set yourself a goal – it is really important to write down your goal. Think about what you want, i.e. the phone and also how much it will cost to get it. Also consider when you want it. Get this information down and then stick it somewhere prominent. This will keep it in your head so that you know what you are aiming for. It should help to motivate you to find ways of saving up money and not to spend more than necessary. If you put a date on the goal this will give you even more to aim for and should help you to get the phone quicker.
• Decide where to cut back your spending– in order to save up, it is likely that you will need to reduce the amount of money that you are spending. Most of us spend more money than we need to and so there will be areas where we can cut back. This could be on all sorts of things and it will be up to you to analyse the money that you spend so that you can work out where you will be able to cut down. It may just be a case of thinking about everything that you buy and deciding whether it is something that you need or not. If you avoid buying things that you do not need then this could enable you to save up quickly, however, it might feel like you are depriving yourself. It is worth noting that we cannot buy everything that we want and this exercise is about prioritising your spending. If you want to be able to afford a phone then you will need to give up something else. Once you have the phone then you could buy those other things if you have the money, it will just have to be a matter of waiting for them.

The amount of time that it takes to save up and the amount of things that you will have to cut down on will depend on how much your phone is and how much you earn. You might feel that you would like to try to earn some more money, perhaps by selling things you no longer need or working some more hours so that you can get it more quickly. If you tend to spend all of the money you earn on necessities then you will need to do this anyway in order to afford the loan. There are lots of things that you could try such as doing some online work, some temp work, and evening job or even a Saturday job. There are options available and it is just up to you to pick what will work best for you. It depends on what skills you have, what you would like to do and what time you have. You may even find something that works so well that you will be able to continue doing it and benefit form having that extra money in the long term. It can even be a lot of fun and very satisfying knowing that you have access to this extra money if you need it.