0
0
Saving money is not a complicated task, although it may seem like it to many. In fact, it is a goal that you should set in life, since it will allow you to buy, in the future, that car that you always wanted, your own house or apartment, that dream trip, etc. So pay attention to these top 10 ways to save money.
How to start saving money?
1. Make a personal budget
That way you will be able to have better control of your money. With a personal budget you know how much money you have coming in, how much you need to spend and how much you can save.
2. Set a monthly savings amount
Experts usually recommended that it be at least 10%, but it can be much more. Once you develop your personal budget you will be able to determine what is the best amount for you.
3. Bridge objectives
One of the best ways to save money is to save without knowing what you will do in the future with that money, it can make you lose motivation. Therefore, plan savings in the short, medium and long term. Once you reach each of the goals you have set for yourself, you will be encouraged to continue saving and you will set yourself new challenges.
4. Plan your grocery shopping before going to the market
That way, you’ll only buy what you need on each visit, so you won’t waste money on unplanned expenses.
5. Bring your own food to work
Buying food in restaurants, when you work or study away from home, is usually expensive in the long run. Do you want to know how to save a lot of money? Prepare food at home the night before or very early. In addition, you will ensure that you always have healthy food.
6. Set amounts for recreational purposes
When we want to use money to have fun, we can be tempted to spend more. One way to avoid it is by setting an amount for this purpose in the personal budget. That way, we won’t go over it in a month.
7. Do not use a credit card
Credit cards charge high interest, and for that same reason, it is better that you avoid using it if you intend to save. Avoid the temptation to put it in your wallet when you go out with friends or shopping as it can make you feel like you have more money than you really have. This tip is one of the best ways to save money.
8. Pay your debts on time
That way you will avoid being charged penalties for late payments. A few late fees can add up to the amount of a minimum payment. Imagine racking up enough late fees that you are essentially making another payment each year without getting any credit for it on the balance. Keep this in mind, especially when it comes to credit cards or loans, since the interest rate is usually high. In addition, being late on payments will affect your credit history.
9. Prepare an emergency fund
An emergency fund is a fund separate from your savings. This will work in the event that you have to cover the expenses of a medical emergency or unemployment. You can start, as in the case of savings, setting a monthly amount of 10% of your salary. Ideally, the emergency fund should be between three to six months of the sum of all your normal expenses.
10. Compare prices
You can also save by shopping and one way to do it is by comparing prices. Currently, this is very easy to do since many times you do not even have to go to an establishment to find the best prices, but only compare between online stores.
Average Rating