Knowing how to save money is a habit, regardless of how much you earn. Many people think that in order to save every month, you have to earn a lot. But is this really true?
In reality, you don't need to have an above-average income
to know how to save money. Just have quality planning and follow a programmed
routine to save successfully.
The act of saving itself does not depend on the amount. That
means you could be saving 10 reais, or 1000 reais. Everything is an economy and
everything will help you reach your final goals with quality.
People often find it difficult to know how to save money on
a low income. If you have this question, you've come to the right place. Check
out our tips and find out how it can be done!
Understand more about your income to save money
Your income is the foundation of your entire economy. To
start understanding how to save, you must see exactly how much you earn and how
much you spend each month. But this can be complicated for some people,
especially those who have unforeseen and occasional expenses throughout the
month.
If this is your case, don't worry. For starters, you can
ensure an organization of your finances to
understand if you really have occasional expenses, or if it's all a matter of
organizing. This may seem strange to some, but most people have similar
expenses and it seems otherwise due to a lack of planning.
Our tip is simple: write down all your expenses for a few
months. So you can check how much income is left over for other activities.
Review your consumption
Now that you know about your income, the next step to
understanding more about saving is reviewing your spending. You already know
what you need to pay, how much you need to pay, and on what dates these charges
occur.
Now, you should see if these are really necessary expenses
for your life, or if you are spending much more than you need to. Transport and
food, for example, are extremely necessary expenses. After all, you can't just
cut out food in a month.
A trip to the movies or a more elaborate dinner in a
restaurant, on the other hand, are not necessarily essential. Make sure you're
not spending too much on leisure or distracting activities. The same goes for
material possessions.
Don't leave the savings until the end of the month
Many people have the following savings model: save only what
is left at the end of the month, without having a certain amount to deposit.
This is a bad technique if you really want to learn how to save money.
Our tip is simple and very effective. You must save
an amount each month and withdraw from your account on salary payday. In this
way, you guarantee the entry of money into savings regardless of your expenses.
It is worth remembering that you must calculate an amount
that will not be needed later. If you're earning less, it's no use saving half
your salary. You can start by saving 20% or 25%, as long as it doesn't make a
difference to the quality of your life.
Create goals
It is essential that you create goals before you begin to understand
how to save. After all, we all need a goal to save money. It is not enough to
simply make a promise to save an amount per month.
Try starting with the following scheme: analyze your
sales and see how much you can save. Save about the same amount each month.
Then start thinking about the uses of that money.
You may want to plan a nice trip with the family or want to
buy a quality good. The goal doesn't matter, what matters is planning. Thus,
you will make good savings, even earning little.
Beware of the Unforeseen
The unforeseen can always happen. They can be lighter, like
a simple extra expense, or heavier, like a decrease in salary. No matter the
reason, you must prepare.
The best way to do this is through savings. We said earlier
that you should create goals. However, don't forget to include the unforeseen
in them. It is always interesting to leave some money for emergencies.
Start by thinking about percentages. Of the money saved, you
can leave a percentage, like 50%, for emergencies. Don't forget that saving
money is an activity that takes time. So don't feel inclined to save too much
at once. You may need the income throughout the month.
Choose the best way to save
There are several ways to save money. You can, for example,
put the amount in a savings account. If the value is higher, you can make an
investment for the money to pay off. The important thing is not to leave
empty-handed.
For your savings to be worth it, it is interesting to choose
a way to save. Do you prefer to use savings? Is saving money at home really a
good option?
If you have a lot of questions, you can ask a professional
for help. Talk to your manager or a financial coach (John Labunski ). He will be
prepared to guide you in the best possible way.
Attention at leisure
Our last tip is also one of the most important for
activities like saving money. A considerable amount of people are lost because
of leisure. After all, we all want leisure time and often we spare no effort in
these moments.
If you like to go out and have fun, be careful. In order not
to end up using extra money, which could be saved, you must program yourself.
How often do you go out in the month? What do you usually spend?
Let's say you go out every weekend, on Friday and Saturday.
This gives an average of 8 departures per month. Spending 50 reais per trip,
you will have an average expense of 400 reais, just for leisure. Now, just
check your income and see if these values can be changed.
