Advertising

Talk about finance It is always a very delicate topic, but it is necessary to structure achievements and dreams, learn and take care of your finances how to save.

It doesn't take much to set limits and change your life with the salary you have today. 

Many times we think that it is an extra income, which is often extremely necessary, but what if we started changing for what you already have today? 

Follow step by step structured financial life and change your life today.  

Advertising

1. Record your expenses

The first step to get started Save money is determining how much you spend. 

Track all your expenses; That means every cup of coffee, household item, and cash tip, as well as recurring monthly bills. 

Record your expenses in whatever way is most comfortable for you, whether that's pen and paper, a simple spreadsheet or app, or free online expense tracking. 

Once you have the information, organize numbers by categories, such as gas, grocery shopping, and mortgage, and get the total for each. 

Use your bank and credit card statements to make sure you've included everything.

2. Include savings in your budget – finance how to save

Once you know how much you spend in a month, you can start creating a budget. 

Their budget should reflect your bills compared to your income, so you can plan your expenses and limit overspending. 

Advertising

Be sure to consider bills that occur regularly, but not every month, such as car maintenance.

 Add a category savings on your budget and try to save an amount that you feel comfortable with from the beginning.

 Plan to increase your savings over time until they represent 15 to 20 percent of your income.

3. Find ways to reduce your expenses

If you can not save As much as I would like to, it may be time to cut expenses

Identify non-essential categories, such as entertainment and eating out, where you can spend less. 

Advertising - OTZAds

Also, look for ways to save on your monthly fixed expenses, such as car insurance or cell phone plan. 

Here are some other cutting ideas. Daily expenses.

4. Find free activities

Use resources like community event listings to find community events. free entertainment or low cost.

Review your recurring expenses

Cancel subscriptions and members you don't use, especially those that renew automatically.

Compare the cost of eating out versus cooking at home

Plan most of your meals at home and look for deals at local restaurants for the nights you want to eat out.

Wait before buying

When you feel the need to make a non-essential purchase, wait a few days. 

You may realize that the item is something you want but don't need and you can set up a savings plan to purchase it.

5.Set savings goals

One of the best ways to save money It is setting a goal. 

Start by thinking about what you want to save for, both in the short term (one to three years) and long term (four years or more). 

Then decide how much money you will need and how long it will take you to save it.

Common short-term goals: a emergency fund (three to nine months of living expenses), vacations, or a down payment on a car.

Common long-term goals: down payment on a house or remodeling project, children's education, or retirement.

6. Auto save

Almost every banks offer automatic transfers between your checking and savings accounts. 

You can choose when, how much, and where to transfer money, and even split your direct deposit so that a portion of each paycheck goes directly to your savings account. 

The advantage: you don't have to think about it and you're less likely to waste the money. 

Other simple savings tools include credit card rewards.

Or even transaction rounding apps, which round up each purchase to the next dollar and transfer the difference to a savings account.
Mobills – Expense Control

Expense and Budget Manager

0