In life it is always important to reserve a part of the income
Saving money is not always an easy task. It often represents a sacrifice, especially if there is no “money” to spare. It is a matter of discipline and sometimes involves “cutting from here to extend, save there” and limit yourself to certain tastes and pleasures.
The reality is different in each person, in each family and home and in each worker. What many times represents a problem for some, does not mean anything for others. Therefore, there is no standard rule that all individuals can follow at the same time. It does not work like that.
However, there are a number of tips that could help those who have plans, often long-term, to put them on the ground of what is achievable. Here are some of them, in no order of importance or chronology.
1-Define savings goals
What you are saving for, it will always be important to be clear about it. It is one of the best ways to save money. You are not always motivated to do it and when that motivation is lacking, then you have to set goals with a time line or space to facilitate savings.
For example, if you want to buy a chair that costs RD $ 2,000, it should be clear that you could buy it in five months, if your income barely allows you to save 400 pesos per month for that. To reach that conclusion you must know what fixed expenses you have.
2-limit some pleasures
We indicated that when you want to save or save, many times you have to limit consumption, especially the unscheduled ones that tend to distract an important part of the budget. It may not be easy for you to stop consuming your usual drinks every Friday when you leave work, or to stop traveling every Saturday, for a while, to the province that fascinates you. It is time to avoid doing it, if you want to achieve your goal.
3- Lower electricity consumption
It is possible that you are one of those people who does not mind keeping the light bulbs in the house on all day and all the appliances that consume electricity connected. Maybe you forget to unplug. Prioritize in use. It is likely that some night the heat will be absent and it does not require its “air conditioning”. Take it into account.
4- Reduce or eliminate debts
If the word save or saving is in your head; If you are trying to save money through a budget, but still carry a large debt, start by “facing” the debt. And if you are still not convinced, go to arithmetic, which does not fail. Calculate the expense that you have each month in the “maintenance” of the debt (the interests, the arrears, etc.) and you will realize that possibly the best remedy is to eliminate it. Get out of it rennet.
5- Bring food from home to work
If you have the goal of saving, for that you will first need to produce and make it work, but to produce you need to eat and be healthy. You can’t lose either. Your lunch does not necessarily have to be from a restaurant. You can stop buying lunch for a while and take home-made food with you to work. Remember that savings can only be achieved when you put together a little of what you cut on one side and what you avoided spending on the other. And many times when you have lunch out, other expenses are added to that lunch. Avoid them.
6- Vacation locally
Traveling and getting to know other nations and cultures is always positive and allows you to preserve experiences for life. But possibly you have missed knowing many charms and attractions that exist locally, in your land. That could be cheaper for you. For this you will not have to buy air tickets or incur all the expenses that travel entails, including hotel reservations. It won’t be a mortal sin if you avoid traveling for a while. After all, you have a goal waiting for you.
7. Put the money to walk
If the goal you are pursuing holds, if it is long-term and you already have part of the money that you will allocate for it, try to make that money work. For this the best way would be to put it into production, so that that money multiplies. In this way, the time to obtain what was proposed could be reduced and you can specify your plans more quickly.
8- Keep the light on
Just as the engineer reviews the progress in the construction he carries out, the saver must review the progress of what has been set, of his plans. This will help you stick to the original plan and correct any distortions along the way. This will help make improvements that strengthen the project for which you save.
