How to Save Money Effectively
Do you want to discover the best tricks on how to save money that actually work? Some users who aim to embrace a healthier economy to increase their savings and consume consciously admit that after several months, they end up abandoning their goal.
Certain methods are very complex to implement, so it’s normal that they don’t motivate us to continue saving. The main key is to find a simple solution that allows us not to give up our comforts.
Saving Money Simply and Effectively
In today’s world, we generally have low salaries, which undoubtedly makes it difficult to make ends meet with some extra money saved. When we start a new year, we tend to set different goals, including increasing savings.
Here are the best tricks to achieve this goal regardless of your salary. Don’t forget to take notes!
Don’t Leave Savings for the End of the Month:
One of the main mistakes we make is leaving what is left at the end of the month as savings. It’s likely that if you follow this technique, you won’t be able to save a single euro.
The solution is to establish a fixed amount and save it just when you receive your monthly salary in your bank account.
Depending on your salary, this amount will be greater or smaller, but remember that it’s better to save something, however small, than to spend all the money you receive.
Do you know how to establish the savings amount? Grab a pen and paper to make a list of all your fixed monthly expenses: mortgage, gasoline, food expenses, bills, subscriptions, garage rent, etc. Ideally, you should have a surplus of €400 to €600 at least. From that amount, save between 20% and 30%.
Think about Whether You Need Everything You Consume:
Almost all of us have sinned on more than one occasion by buying recklessly.
To save money each month, it’s not necessary to give up all your indulgences, but before making a purchase, think if you really need that product or service.
You’ll be surprised to know that almost half of purchases are made impulsively. If you don’t believe it, take a look at your wardrobe, and you’ll surely find clothes you’ve hardly used.
Be Careful with Social Media:
You may not initially find much relation between social media and monthly expenses, but the reality is that many people are influenced by users who promote products through these channels.
This fact will make us spend our money on something that doesn’t really satisfy us personally. There’s a sense of false need of which we are not aware.
Keep an Economic Journal:
Write down in a notebook the money you receive and spend. Also, set monthly challenges to stay motivated with your savings goal.
When we collect data in such a visual way, we can realize the mistakes we make and the actions that help us.
The Envelope Method:
If you think you’re not very disciplined and find it hard to write and review the data each month, you can opt for the envelope method.
This technique involves cutting down on leisure expenses. To do this, we’ll put the amount we intend to spend on leisure that month in an envelope.
Learn to Shop at the Supermarket:
Another common mistake we make is wasting a lot of money on supermarket shopping.
Create a weekly menu so you know what foods you need. Always go with a list and only put in the cart what you have written down. This trick will help you save money and avoid wasting so much food.
Develop Healthier Leisure Habits:
If your leisure time consists of going to restaurants, pubs, or other places that make you spend a good amount of money, it’s time to change your mindset!
Opt for healthier and free plans like going for a walk in the park, going hiking, discovering iconic spots in your city on foot… There are thousands of options that will improve your health and your finances.
We hope we’ve helped you with our tips on how to save money effectively. Don’t forget that patience and perseverance will be two key factors in achieving your goal.