Buzz
Previously, I’ve discussed the idea of managing your budget like a balanced diet. While extreme measures, such as the FIRE movement’s rigorous calculations, might promise early retirement, they can also lead to revenge spending, which can derail your finances just as binge-eating disrupts a diet. Enter “soft saving,” a balanced approach that avoids extremes. It’s about finding moderation—or at least that’s the goal.
Drawing from my understanding of Gen Z, a “soft life” prioritizes low stress and self-care. Similar to quiet quitting, soft saving is a modern term for the age-old goal of living a fulfilling life within a capitalist system. Unlike older generations who centered their lives around work, Gen Z aims to make life itself the focus. Soft saving is a playful way to describe saving without strict rules or the risk of overspending.
While financial trends may come and go, certain principles of soft saving remain valid. Here’s a deeper look at what soft saving entails and how to determine if it’s the right strategy for you.
What does soft saving mean?
Soft saving is a financial strategy designed to help you save money without drastically altering your lifestyle or sacrificing small indulgences. But how does it work in practice?
Soft saving focuses on making small, consistent adjustments to your spending habits to accumulate savings over time. The term “soft” reflects its gentle, adaptable approach, avoiding rigid or extreme budget cuts.
The true value of this trend lies in how it transforms your relationship with money: Soft saving recognizes that drastic changes, much like crash diets, are often hard to maintain. Instead of completely cutting out dining out, entertainment, or nonessential purchases, it encourages sustainable, manageable reductions you can maintain over the long haul.
How to begin soft saving today
Here are some simple soft saving techniques to help you build your savings while maintaining your everyday joy.
Pause before spending. Before buying anything, take a moment to consider whether it’s a necessity or just a fleeting desire.
Cut back where it makes sense. Begin by examining your bank statements to identify expenses that no longer add value, such as subscriptions you no longer use. For ongoing costs like phone plans, opt for cheaper alternatives when available.
Control impulse spending. To curb unplanned purchases, wait 24 hours before buying. A helpful tip is to jot down desired items before purchasing them.
Stick to cash. Use cash for non-essential purchases to make spending feel more tangible.
Implement no-spend days. Choose 1-2 days each week to avoid discretionary spending entirely.
The essence of soft saving lies in long-term consistency—prioritizing steady moderation over extreme, short-term cuts. You may be amazed at how many expenses you can cut, whether they were accidental or driven by stress.
Soft saving offers flexibility
The most important takeaway from soft saving is flexibility. Being overly critical of every small indulgence will lead to burnout. The goal isn’t perfection but making mindful choices to save rather than spend when possible. Develop habits you can maintain daily, and don’t forget to enjoy life along the way.
