Post by suborna913 on Apr 30, 2024 4:42:49 GMT -6
It is very common to see people who want to start saving money, whether for some objective or just to have security when dealing with routine events.
However, this is not an easy task, you need to have determination to create the habit of saving part of your earnings every month, instead of spending without thinking about tomorrow.
It all starts with analyzing and organizing your expenses, and some expert tips can help you make better choices when it comes to savings.
We have therefore prepared this complete Nigeria WhatsApp Number List guide for you who want to start saving money, but don't know how or why this practice can change your financial life.
Financial Spreadsheet Banner
What will you read in this article?
Why save?
How much to add?
How to save money by earning little?
How to start saving?
Is it possible to save without depriving yourself?
Tips on how to save money while earning little
Tip 1: Limit credit card use
Tip 2: Do price research
Tip 3: Prefer to buy in cash
Tip 4: Adopt healthy habits
Tip 5: Negotiate your debts to get a discount
Save to make dreams come true
Why save?
The first step to starting to save is understanding your reason – each person has a reason to save money, it could be a future plan such as buying a house or car, the need to have an emergency fund or even to travel.
When you save money, you automatically prepare yourself for possible unforeseen events. Do you know when your car suddenly breaks down? Or does the need arise for an urgent medical procedure? Those who save won't be in a pinch at a time like this.
How much to add?
There is no specific ideal amount to start saving money. According to your reality, you can decide how much you can save per month, without having to take away from important areas of your life.
The most recommended by professionals is to save between 15 and 20% of your monthly income, however, we know that not everyone can save this amount the first time. Starting with 5 or 10% you get used to saving money and can increase the percentage over time, without much effort.
How to save money by earning little?
There is a myth among people who earn little: many believe that you can't save money with a lower salary. The fact is that it requires greater organization, but it is, yes, very possible!
The first step is to understand that even a small amount of money, when accumulated throughout the year, can make all the difference when it comes to achieving that bigger goal.
Just remember to have a lot of discipline, as consistency is the key to achieving good results in saving your salary.
How to start saving?
The first step is to write down all the fixed expenses you have (rent, energy, water, internet, grocery), those that you cannot avoid paying under any circumstances.
After that, separate expenses that vary according to the month (credit card, shopping at clothing stores, going to restaurants, leisure activities). These are the values that can be reduced in some way.
Did you do the math? Time to check if there is any money left at the end of the month. If so, write this amount down as savings. However, if the answer is no, rethink some of the variable expenses to get a reserve and commit to saving it every month.
However, this is not an easy task, you need to have determination to create the habit of saving part of your earnings every month, instead of spending without thinking about tomorrow.
It all starts with analyzing and organizing your expenses, and some expert tips can help you make better choices when it comes to savings.
We have therefore prepared this complete Nigeria WhatsApp Number List guide for you who want to start saving money, but don't know how or why this practice can change your financial life.
Financial Spreadsheet Banner
What will you read in this article?
Why save?
How much to add?
How to save money by earning little?
How to start saving?
Is it possible to save without depriving yourself?
Tips on how to save money while earning little
Tip 1: Limit credit card use
Tip 2: Do price research
Tip 3: Prefer to buy in cash
Tip 4: Adopt healthy habits
Tip 5: Negotiate your debts to get a discount
Save to make dreams come true
Why save?
The first step to starting to save is understanding your reason – each person has a reason to save money, it could be a future plan such as buying a house or car, the need to have an emergency fund or even to travel.
When you save money, you automatically prepare yourself for possible unforeseen events. Do you know when your car suddenly breaks down? Or does the need arise for an urgent medical procedure? Those who save won't be in a pinch at a time like this.
How much to add?
There is no specific ideal amount to start saving money. According to your reality, you can decide how much you can save per month, without having to take away from important areas of your life.
The most recommended by professionals is to save between 15 and 20% of your monthly income, however, we know that not everyone can save this amount the first time. Starting with 5 or 10% you get used to saving money and can increase the percentage over time, without much effort.
How to save money by earning little?
There is a myth among people who earn little: many believe that you can't save money with a lower salary. The fact is that it requires greater organization, but it is, yes, very possible!
The first step is to understand that even a small amount of money, when accumulated throughout the year, can make all the difference when it comes to achieving that bigger goal.
Just remember to have a lot of discipline, as consistency is the key to achieving good results in saving your salary.
How to start saving?
The first step is to write down all the fixed expenses you have (rent, energy, water, internet, grocery), those that you cannot avoid paying under any circumstances.
After that, separate expenses that vary according to the month (credit card, shopping at clothing stores, going to restaurants, leisure activities). These are the values that can be reduced in some way.
Did you do the math? Time to check if there is any money left at the end of the month. If so, write this amount down as savings. However, if the answer is no, rethink some of the variable expenses to get a reserve and commit to saving it every month.