How can I save money? This is the question we ask ourselves most often when we look back at the month and see that we haven’t met our goals or that there is simply not enough money in the account. Learn some tips on how to save money every month.
Rents, normal household expenses, food, contingencies… All add up to the total amount in our account.
There are many ways you can save money: per month, per week, investing, etc. The most important thing is to remember that saving money is not easy. It is better to save small amounts over time and to set specific goals.
It is important to create a savings plan. Also, consider a few tips to help save. Be aware of the small efforts we will need to make once we get to work. Also learn some marketing strategies to improve your campaigns.
Here are some tricks and tips to help you save money every month :
You have made it this far because you are looking for ways to save money every day. Let’s say, in a month. These are some tips we believe will help you achieve your goals. You can always call any Finect adviser for help if you have questions.
1. Be sure to accurately reflect your expenses
To save money at the end of each month, you must be very clear about all fixed expenses. Fixed expenses include rent, mortgage, insurance, bills and monthly food purchases. There are also other options such as car fees or children’s school fees.
In Excel, create a table that contains a category for each fixed expense and one for your variable expenditures such as eating out for lunch or dinner. This will be filled in the first month. You will know how much money you have spent in a month in both a fixed and variable manner.
This is a way to divide your expenses in your table, both fixed or variable.
- Rent or mortgage for an apartment
- Electricity, gas and water bills for household (telephone, internet, water)
- Transport public
- Supermarket, food
- Leisure (restaurants and museums, trips, and getaways …)
- Car and/or motorcycle (gasoline and insurance, and other expenses).
- Shopping (clothing and footwear, household items …)
- Others / Diverse (hairdresser and special dates, dentist
Another option is to add another column to distinguish between:
- Major expenses: such as the mortgage payment or car payment.
- Secondary costs: essential, but we can reduce them in some ways. These expenses are then divided into:
- Recurring: Restaurants if you frequent them, the purchase of the week, or the month, and bills
- Sporadic: gifts, travel, culture, etc.
2. Apps can help you save money
apps are great for helping you keep track of all your income and expenses throughout the month. Other apps such as Money Box, Coinscrap and Arbor can be used. These apps can help you understand your financial situation better and help you plan and increase your savings.
3. Ask yourself why you want to save money.
It is important to set a goal for your savings goals. You could save for a vacation, a house, or to earn a master’s. You will feel more motivated when you think about “What do you want me to do for you?” the money you will save. It is easy to spend money, but it is not worth the effort. Be motivated to make your future more enjoyable.
4. For savings, create a monthly budget
Continue with your steps to Save Money in a Month! We know exactly how much money we are spending on a monthly basis. What we want to save for and who our allies are when it comes down to saving. It is now time to create a budget.
This budget must be compared between income and expenses to see where you can cut back on the more important expenses. According to Natalia de Santiago’s podcast, the ideal savings goal would be to save between 10 and 20% on your benefits.
If this seems impossible, take a look at the next point. Table to save based upon your salary.
5. How to save money on your salary
A very important factor to consider is how much we should save depending on our income. It is different to ask how to make money with 1,000 Euros than with 4,000. This is why it is important that the percentage shown in the table be saved as soon as you receive the income and not at the end of the month with any leftovers. It will likely be difficult to do so on many occasions.
The 50/30/20 method is recommended.
A 50/30/20 strategy is another way to save money based on your salary. Although it is an easy way to save money, it does require patience and consistency from month to month.
Your basic, non-avoidable expenses must be 50%. You can also allocate 30% to additional and leisure expenses and 20% to savings. This is how you can save money on different salaries.
6. Save as much money as you can by setting and meeting goals
You must set goals to cut down on your expenses and have more money at the end of each month . What does this mean? What does this mean?
You can also “get to work” and review your bills. Could you be paying less for fiber? Is there an insurance company that could offer you a better deal? What compensation would a flat electricity rate provide? These are the options you have. If you feel they will help you save money at the end of the month, ask yourself. This is one of the best money-saving tricks.
Which product should you choose?
Our tips for saving money continue. There will be many options for depositing the money. If we can make some profit out of it, that’s even better!
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