It is very difficult to find someone who does not want to save money. However, the distance between wanting and getting is usually very large. The curious thing is that in most cases, this happens for a single reason: we started the month promising that, this time, we will be able to save money, but when it comes to an end, there is nothing left in the account.
The good news is that reversing this situation may be easier than you might think. For this, the first question you must answer is if you are in debt. If you are, before reading this text, you need to read this one, which shows what you need to get out of the snowball.
1. How to save money – Do not wait until the end of the month
If you have realized that there is no money left over at the end of the month, how about starting saving money soon when wages fail? A good tip is to create a scheduled savings for this day. So you’re not even going to start counting on that money for day-to-day life.
2. How to Save Money – Organize Your Budget
You should know how much you make, but how much do you spend? It is impossible to control the budget without knowing exactly where your money is going. To help you organize your budget, the tip is to have one of the financial organization available in the market.
Who likes numbers and keeps all the notes on the card to add at the end of the month can count on a spreadsheet control. Now for those who shudder just thinking about filling out a spreadsheet, one option is to use Iago, which pulls all your bank moves automatically in less than two minutes.
3. How to save money – Create goals for your expenses
Do you already know the 50-15-35 rule? She foresees setting goals for all her expenses by dividing them into three categories:
– 50% for essential expenses: all those necessary for you to stay in your daily life: housing, food, health, education, etc.
– 15% for financial priorities: for those who do not have debts, the priority is to save money for future projects.
– 35% for lifestyle: all expenses related to hobbies and leisure: gym, beauty salon, restaurants, ballads, etc.
4. How to save money – Build an emergency reserve
Your first goal in saving 15% of your income is to build an emergency reserve to prevent financial contingencies. The ideal is that this mattress adds three to six salaries.
By saving 15% of your income, you will achieve three salaries in one year and eight months. If you can save on lifestyle and essential expenses, you can increase your monthly savings and reach that goal before the deadline.
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5. How to save money – Diversify your investments
Once you build your emergency reserve, you’ll be free to look for other profitable investment options than saving. A good tip is to look for a financial advisor to help you set the next steps.