July 21, 2022, 08:02 | Business
Everything is not as complicated as it may seem at first glance.
We spend money every day: we buy coffee on the way to work, pay for public transport or a taxi, fill up the car, buy food for home or leave some money for dinner at a restaurant. Sometimes finances run out so quickly that we don't have time to notice it, so it's rarer than we'd like to make a big purchase, informs Ukr.Media.
Of course, in such a situation, savings come to the rescue. But here you can face a problem: not everyone can save money. Fortunately, the hardest part of saving is getting started. We tell you how to save money correctly, even if you can't boast of a big salary.
Control your expenses
Today, controlling expenses has become much easier: in the banks' mobile applications, you can immediately see what the most money is spent on each month. Choose several categories in which you will pamper yourself (mandatory expenses are not taken into account), and try to reduce the budget in others. Yes, you will have to make sacrifices, but it is difficult to call them huge: you just learn to spend in moderation.
Let's give an illustrative example. You often dine out and spend a lot of money on restaurants. If you sincerely want to start collecting, reduce the number of trips to establishments to 2 times a week, and cook at home the rest of the time. This way you will not deprive yourself of pleasure, but you will save a decent amount.
Another life hack: plan your budget before your paycheck comes. When you have a clear picture in your head, spontaneous spending gradually disappears.
Separate wants from needs
This point is inextricably linked. #39;related to the previous one, and shopaholics and lovers of impulse purchases should pay special attention to it. Sometimes you really want to please yourself: buy a new teapot or fashionable shoes from a famous designer. If you want to raise money, improve your financial literacy and separate your wants from your needs.
Before paying for the product, ask yourself: do you really need it? At first, it will be difficult to refuse, but in the future you will repeatedly thank yourself for your persistence and endurance.
Try not to take out loans
At the moment, loans can be called assistants: if the salary has not yet arrived, and the husband's birthday is coming soon, you will buy a gift and get rid of debt as soon as the funds arrive in the account. But many loans are delayed, and it is not possible to close them on time. People cover one loan for another, overpay interest, which, in turn, only increases monthly expenses. If possible, try to avoid loans, and if you cannot do without them, be sure to keep an eye on payment dates.
Open a savings account with automatic replenishment
Do you want to manage your finances competently? Open a savings account in any bank. It is difficult for all of us to refrain from spending money if the entire amount is on one card. To create a cushion or save for your dream, connect the function of automatic replenishment of the account once a month: save about 10% of the salary, and after six months you will see the result.
Today, most of us use bank cards, and it is very convenient. However, we do not feel how fast the money goes, so it is difficult to collect. Use the old and proven method: when the salary comes, withdraw the same 10% (or calculate the amount based on your budget) and put it in a paper envelope. This approach will save you from reckless spending and help you save money effectively.
Try to lower your electricity bills
The housing and communal services payment is included in the list necessary expenses, but here too you can save. Monitor how often the light is on in your apartment when it is not needed, turn off the TV when no one is watching it. You'll say it's a small thing, but the wasteful use of electricity has a negative impact on your financial cushion.
One more an option is cashback services. A percentage of any purchase is returned to your account. Bank cards with cashback will be the most convenient solution: most often, banks offer the client to choose the categories in which the cashback will be increased every month, and there is also a percentage that is returned by default. By the end of the month, you may have enough money saved up to put it away.