We all know how important to make savings. But sometimes you want to save a little bit more for vacation, to pay off your debts more quickly or just to have a good balance for a rainy day. Here are some tips to help you learn how to save more.
1. Do savings when you’re buying something unnecessary
Even the most economical people sometimes buy something unintentionally, for example on sales or in a queue at a supermarket. If you have serious problems with impulsive purchases, try using this trick to get rid of this habit: every time you spend on something unforeseen, put aside exactly the same amount.
It turns out that with every purchase you still save money, but at the same time, expenses are increasing. This method will force you to think twice about how much you spend, and, possibly, will keep you from unnecessary purchases.
2. Transfer the salary immediately to the savings account
Open two accounts in a bank: for expenses and for savings. Set up the possibility of transferring funds between these accounts and transfer the salary immediately to the savings account, and to the first one, transfer only what you will spend for main expenses.
Of course, you can simply save each month a certain amount, but this method is not always effective. Transferring money immediately to the savings account, you subconsciously put forward your goal to save to the fore, and this helps to change your attitude to spending.
3. Save all random incomes
It does not matter what kind of income you are talking about – the return of an overpaid tax, cashback or just 2-3 euro that you found in the pocket of an old jacket – do not waste it. Of course, this requires willpower. Therefore, in advance, take for yourself the rule of 10% of the unexpectedly received funds, to spend it on purchases for pleasure, but put the rest amount aside.
4. Use the applications to automate savings
There are many applications that will help you track spending, save money and transfer them between your accounts. You can plan your budget for a week, a month or even a year ahead.
These applications will remind you when you pay bills and save money. Among the most popular are Spending Tracker, Money Manager, Money Lover, Monefy (You can find it in Apple store or Google Play Store).
5. Set yourself tasks
Each month, set for yourself small tasks that will help you to save, for example, cut expenses for cafes and restaurants or put off all the small things. Even such a small challenges will teach you how to save money. You can start with the so-called “free days off”. Set a goal not to spend at the weekend: no trips to the cinema, no hanging out in a cafe, no shopping. Think about what to do on the weekend, and to save money, and not get bored. Surely you have several options.