6 tips for you to save money

Have you promised yourself that you will save more this year? If the promise is complicated to fulfill, check out this article to know the 6 practical tips for you to save money!

There are many reasons to try to save during the month. However, we know how life can be full of unforeseen events, which makes us spend a little more. Sometimes, we don’t receive financial education to know how much we can spend monthly.

But saving money has several benefits. With an extra income, we can achieve our goals, such as saving to buy a house. Want to understand how to save money? Just keep reading!

How to save money?

Below we have some tips for those thinking about saving and those who know how to buy a new dream home. They are paramount and must be taken into account when making decisions. Check it out:

1. Save money monthly

Have you ever heard the saying “grain by grain the hen fills her belly”? Well then, this example fits perfectly here. With money saved every month, for a certain period, a good amount will be generated at the end.

With this money, it will be possible to start the plans that will impact your future. As little as it may seem at first glance, over time you will find that the practice will pay off.

2. Set goals

You already know how much you spend, so you can create goals for your expenses. This will organize your expenses and you can cut some that are considered unnecessary over the days.

The tip is to separate as follows: 50% of the income for essential expenses (all those necessary for you to maintain your daily life); 15% of income for financial priorities to pay off debts. If you don’t have debts, you should consider investing 35% of your income for hobbies and leisure, such as a gym, beauty salon, shopping, etc.

3. Try to have extra income

To control your finances, also think about how to increase your monthly income. Freelance, home office or weekend work can help to increase your income.

Start by identifying what you like to do or what your skills are. There will always be someone in need of your work, whether for sewing, painting, cooking, etc. Rest assured that this extra work will not compromise your main income or even your physical/mental health.

4. Set a maximum spending per category

Before you start saving, it’s worth doing a financial analysis. This is when you put all the bills on the table to clearly understand how much you spend with:

  • Home;
  • Transport;
  • Supermarket;
  • Health;
  • Leisure;
  • Phone, etc.

The goal is to define how much you can spend on each of the categories mentioned above. Try to stick to the limit established in the budget, ok? All this to ensure that your bills are in the blue, that is, that the expenses do not exceed the salary.

5. Use credit card when necessary

The credit card offers facilities, right? It helps to solve unforeseen events, extends the time to pay for purchases and allows you to pay for more expensive things in installments, without them making a significant difference in your income, and so on.

The problem is that the feeling of having money always on hand can make you spend what you don’t have. The card is not an extra income, but a loan that needs to be paid on the agreed date.

6. Have a cost of living within your reality

Maintaining a standard of living commensurate with financial reality means not spending more than you earn. So keep your feet on the ground and live up to your conditions.

Before buying anything, do the math properly and see if it fits the budget. Even if it fits, try to reflect if the acquisition is really necessary. Those who have this awareness do not get into debt and still manage to save money earning little.

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