The current situation in the country has led many people to have seen their wages reduced far beyond what is desired. Assuming that this is the only source of income for most people, these reductions have brought with them adjustments and adjustments to their lifestyle, their consumption habits and the way they manage their money, leaving most of the time very little room for the savings. However, despite requiring effort and willpower, saving even with a lower salary is possible.
Here are 10 ways to stretch your order.
1 - Examine your costs.
Divide your spending into three categories: fixed, variable, and extras. Usually, fixed expenses are the rent of the house and / or the provision of the car, variable expenses, which can also be fixed, are expenses like water, electricity, gas and extras are things like daily coffee or dinner in the restaurant.
2- Cutting of variable expenses.
With small gestures you can reduce your variable expenses. Avoid long baths, always turn off the lights when you are not using them, turn off appliances or even reduce the amount of cigarettes you smoke
3 - Reduce fixed expenses.
This is the category where it is most difficult to make reductions. If you have a housing loan try to know the conditions you have and the conditions that other banks offer you. If you have several credits, each with your interest rate, perhaps the consolidation of all these credits is advantageous, starting to pay only one installment, with a lower value than all credits.
4 - Organize your accounts at the beginning of each month.
Do not spare whatever you have left over at the end of the month, because eventually there may be nothing left. Divide at the beginning of each month your money, pay all expenses and put aside the money you want to save.
5 - Look for free leisure activities.
Earning little does not have to mean that you will stop doing activities that you enjoy, it just means that you will need to make a readjustment. Instead of going to the restaurant, join friends and dine at home or instead of going to the gym, look for parks where you can exercise for free, for example.
6 - Be strict with small expenses.
Do not fall for the temptation of small extras such as coffee. If you think that an outside cafe usually costs 60 cents and you take at least one per day, this extra will cost you around 18.60 euros per month. If it is those people who drinks coffee in the morning and after lunch this cost will double and, in coffee, will spend 37.20 euros per month. Consider reducing the coffees you take out. Do it at home and take it to work. If you have other kinds of extras you usually spend on money do the same exercise: count what you spend per month and analyze the impact it has on your monthly budget . If you think the small expenses do not have much weight in your monthly budget, read this article and see how Monica Sofia and Rubim Fonsecawere able to save € 1700 by changing only small habits , such as having breakfast at home rather than at a café or pastry shop.
7 - Avoid credit cards.
Credit card can be a help in managing our personal finances, but if you earn little and the budget is tight you are not advised to use this feature. By making use of the credit card you can be taking a first step to lose control of your expenses and to lose track of how much you really can save each month.
8- Do not be late in paying the bills.
"Do not leave to tomorrow what you can do today" is a saying that applies to this point. Avoid leaving the mandatory payments for later, because you will run two risks: to spend the money destined to certain expenditure on something else or to see added to your account some kind of fine if you forget and let the payment deadline pass.
9 - Use the 10 second rule.
This is the golden rule to avoid impulse buying. Before you buy something because you saw a promotion or because you think it's priced well, take a 10 second pause and ask yourself, "Do I really need this?", "Do I really want this?", "I already researched other sites and the price is worth it? ".
10 - Take one day a month or even one day a week to not buy anything.
Many of the purchases we make come from the habits we have, so book one or several days a month to not buy anything. You'll see that maybe there are things you did not need so much or that you did something you did not do for some time without spending money.