In the previous hub,Saving for a Rainy Day, we discussed the importance of a Savings Cushion. This is like the squirrels that take advantage of the seasonal abundance of food and store surplus for the season when there is little to no food to collect. Immagine what would happen to you if you lost your job or were sick for a longer period and you didn't have a savings cushion. You would be a lot like the squirrel that got lazy or sick and didn't save food for the winter.

Most individuals find it difficult to get started on building that all important savings cushion. While it is easier to save up to buy that new laptop or mobile phone, saving up for unexpected medical emergencies or crisis situations such as a job loss can be even harder. Often the best laid savings plans fall prey to unexpected expenses or the temptation to buy some item you feel you just can't do without.

However, building and maintaining your savings cushion is often important for your financial well being. Many financial experts recommend that you have at least three months living expenses put aside in case of an emergency.

However, if you find it difficult to put aside some money every month into a savings account, here are a set of 8 tips that will help you get started on and growing your savings cushion.

1. Treat saving like a bill: Decide on how much you want to save every month. Look on this as a monthly bill that you have to pay like you pay your power or telephone bills. The trick here is to be disciplined about your approach to savings.

2. Start small: Many people feel that there is no point in starting a saving cushion because the amount they may be able to add to it may be very small. However even small amounts can add up and can become sizable given time and patience.

3. Scrutinize the extras: Taka a careful look at the extras that you spend on every month such as eating out, entertainment, etc. You will generally find that there may be some things you can avoid or even cut down on.

4. Save your raise: The next time you get a raise, consider directing at least half the amount toward your savings cushion. Since you are not used to the money you will not miss it anyway.

5. Expired loans: Suppose you have finished paying off your car loan or some other loan. Consider directing half the amount you were paying toward your savings cushion. Since you are already used to paying this amount you will not notice it.

6. Sign up for a retirement plan at work: Many organizations encourage employees to defer a part of their income into a 401k plan and will also help with a matching contribution at some level.

7. Automatic saving plan: Many banks and financial institutions transfer a set amount from your checking account into a special savings account every month. You will come to view that amount as a regular expense and will not even notice that its absence from your account.

8. Look for lower interest rates: Interest rates are falling all the time. Take a look around and you may find that you can refinance your car loan or mortgage at a lower rate. Check your credit cards as well as ensure that you are getting the most competitive interest rates available. If not consider switching cards.