How to learn saving money on a rainy day
First own income is a great temptation and sometimes you don’t even know what to do with it. So you starts to spend it for entertainment, clothes, some devices. Alas, life puts everything in its place: eventually we understand that it would be nice to have an untapped reserve, which will help out in a difficult moment. Living from salary to salary is not the most successful model of money management. We would like to clear up the situation with keeping the untouchable amount on a rainy day.
How to save some money and stay calm
Check out your expenses. Spending money for drinks with friends, fancy clothes or other useless stuff. Realize what the problem lays in, because this is for your well-being.
Plan a budget every month. After receiving a salary, send some of money to untouchable saving, then pay all bills. The money remained you can spend for pocket expenses till the next salary. Divide it into parts, the number of which is equal to the number of weeks before the next money.
Save money, but only where appropriate. For example, do not buy poor quality food or starve, because it is harmful to health and when you save money, there will be little joy from them, if you undermine your health, and spend money on treatment. However, you can save on things like household appliances.
Any unplanned income should be sent for saving. Suppose, you have raised your salary, save the same 10–15%, but from the current income. If you have saved some big amounts of money, keep it in different banks.
Some monthly payments (for example, utilities) or those that you cannot refuse, it is also better to conduct automatically, especially if the amount is always fixed. If the amount “floats”, then you should set yourself a reminder and follow every month for how much you spend on payments and adjust consumption. This approach will allow you to estimate how much money you got.
Do not try to look reacher than you are. There is no point in spending a lot of money on things and objects that you want to emphasize your status and availability of money. And it makes no sense to buy a bunch of things for the new season, having a full wardrobe of not so old things in good condition. There is no point to get the last IPhone, which is extremely expensive for no reason, every second student has IPhone, but are they rich? Not sure. They still use social transport and save money for healthy food that provoke diseases in so young age. To sum up, there are so many other smartphones of better quality at reasonable prices.
The issue of saving money worries almost all people, but few of them really know how to do it. We hope these useful tips will teach you something or at least will be the push for your beginnings in economizing and keep your fortune safe and huge.