How to spend money wisely and learn how to save

Hello, tell me what to do if I have a small salary and I always do not have enough money. Whatever I do, constantly in debt. Already, the amount of income managed to raise interest by 20% over the past year, but still have to borrow from friends and colleagues. What to do in this case, how to start wisely spending money? Or is it enough for me to just start saving? I did not think that I would have to do this (((

Alexander, 29 years old, Krasnoyarsk

It is not easy for people with low incomes to make ends meet every month, so it’s not surprising that they don’t even think about putting off something.

However, if nothing is changed, it is impossible to improve such a situation. It is worth starting to save money in order to avoid unnecessary expenses and change the situation in the future.

1. How Savings Help Spend Less

Life is filled with various unexpected events, some of which require additional, unplanned expenses. When faced with people with small incomes, they are forced to borrow. It is good if close relatives are ready to lend the necessary amount, but most people turn to the bank for loans.

We advise you to read the article - “How and where to borrow money urgently without checking the credit history on the card” and the material “How to borrow money from a private person against receipt”

Interest on loans leads to additional costs, loading the budget, which further limits financial opportunities. We pay interest for years, without even noticing how much we actually overpay.

Yes, saving with a low salary is quite difficult, but you should start now, very soon you will see good results. The financial “pillow” you created will help you borrow less and not spend money on interest.

2. How to spend money wisely and start saving

Sure, earn more - This is the best solution, but it takes time. You need to constantly work on the task if you clearly set a goal to overcome financial difficulties. You can read about how to make money here.

You can start saving immediately, if you make it a rule to always save a certain amount from each salary, even if it’s very small.

Perhaps every adult can save at least 5000 rubles per month. For six months you will save 30,000 rublesthat will allow you not to take expensive microloans at stake until your salary, when, for example, you urgently need to buy medicine or leave. Otherwise, you can spend them on shopping or leisure.

To save money was easier, choose a specific goal for which you will save money. It can be an apartment or a vacation trip. the main thing - The reward for your efforts should be achievable and not too distant in time. As an example of earnings and accumulation, read this article, which describes in detail how to accumulate and earn money for an apartment.

A savings account in a bank will help to resist the temptation to spend money. Short-term deposits on 3-6 months the most convenient, if desired, they can be extended for a longer period. Read about deposits and what types of bank deposits are in this article.

Banks offer quite flexible conditions for deposits, money is stored separately from the card account, but remains available at any time.

Tip: Choose a bank that is a member of a deposit insurance fund. At present, DIA (Deposit Insurance Agency) guarantees a return 1.4 million rubles.
It is also advisable to choose a bank with state participation.

Analyze expenses and make a clear budget per month. You must know, how much money is needed to meet minimum needs:

payment of housing and utilities;
food;
fare;
entertainment.

The first month will not be easy, but with a clear goal, you will achieve it.

3. How to spend less money

Oddly enough, but you can almost always save money, even if your income is small. In fact, not so much is needed to ensure a simple human activity. We simply get used to a certain level of comfort, strive for it and cannot refuse too much.

Here are some examples of extra costs:

The light is on around the clock;
The temperature in the room is above 18 degrees (even at night);
A cupboard overflowing with things;
Products that spoil in the refrigerator;
Food and drinks that have no nutritional value (sweets, pickles, various chips, sugary and energy drinks, alcohol, flavorings);
Extra trips on public transport;
Gym instead of simple exercises at home;
Weekend at the night club;
Car trips around the city;
Going to the cinema instead of watching a movie at home.

In fact, there are more examples, we do not urge to give up comfort forever. This is worth doing if you want to change the situation with finances for the better in the future.

Tip: Set a limit on credit card payments and take with you exactly as much cash as you can afford to spend.
Make stock purchases, use cashback cards.

4. What else can save money

Utilities - Dress warmer in winter to lower the temperature in the rooms, insulate windows, do not often open doors, find the cheapest rates for mobile communications.
Food - Do not buy junk food, visit wholesale warehouses of products, buy sugar, cereals, butter once a month or six months. Go to the chains of discount stores, there are often discounts.
clothing- buy clothes during seasonal discounts. Do not chase fashion brands, some new manufacturers offer quality no worse.
Transport trips - Several stops can always be walked when there is time. This will replace your walk, burn extra calories and save money.
Recreation- to have a good rest it is not necessary to spend time in an expensive restaurant and have a drink. A bike ride or skiing in winter will bring more benefits.

5. How to take expenses under personal control

To control your own money more efficiently, keep a record of them. To do this, it is convenient to use a special program or a regular excel plate. In the table it is convenient to enter all the main income and coststo summarize at the end of the month and see the big picture of your own budget.

The well-known proverb “Money loves an account” characterizes the nature of money well. There is nothing worse for a small budget than uncontrolled expenses.

Learn how to improve your own finances. make up correctly, to plan and control your budget.

In conclusion, we recommend that you also subscribe to the financial literacy channel and watch videos about saving and saving money:

The Rich Pro team hopes to be able to answer your question. If you still have any questions, ask them in the comments below. See you on the pages of our magazine!