Actually, that’s not difficult and the standard of living does not have to suffer if you do it right. The following money-saving ideas will help you save as much money as possible.
Increase the sum
If you earn a little better on the job after a few years, you’ll increase the amount you transfer to a time deposit account or otherwise invest each month. They’ve already gotten used to saving and now it’s all about updating that habit. For example, increase the amount to 75 or 100 Dollars. Do not make exceptions. Do not cancel your standing order just because you wanted to have that classy sunglass this month, just after your dryer was broken and you bought a new suit for the business trip. Not your current needs have priority but saving. Saving is only beneficial if you put a large sum aside each month? Wrong thought, even small amounts will take you further. First of all, it’s less about how much you save. What is more important is that you practice saving as a habit.
Keep a household book
Do you actually keep an eye on your finances? Do you know what you earn every month and how much your expenses are? No? Then have a budget book for a while. It does not have to be a sophisticated Excel spreadsheet, slips and pencils also serve. Write down what you earn each month. Take your monthly fixed expenses off and the sum you want to save monthly. Include a buffer for unforeseen expenses that are urgently needed.
Check your expenses
Keep track of your daily expenses. Carefully write down every penny you spend for four weeks. Then check where you can save. Is there now a cheaper mobile phone contract or cheaper liability insurance? What do you save if you change the electricity provider? Also, check your daily expenses. The two Dollars for the coffee at the station initially not much in the sum but come together quickly once a month 40 Dollars. Is the coffee worth it for you? Or could you also put coffee in a cup at home and take it with you?
Pay only in cash
If you have a lot of money in your wallet, will you spend a lot? That’s a mistake, paying in cash gives you a much better sense of how much money goes through your hands every day. With payments with debit or credit card, one loses however fast the feeling for it. Try to pay in cash for at least one month. Of course, this is not possible in all areas like the rent and insurance costs will continue to be deducted from your account. But that does not apply to supermarket groceries, movie tickets and all the other things you buy each month.
Spend more money – if it makes sense
These tips are not about saving at all costs. For some purchases, it makes sense to spend more if you have durable products for them. Otherwise, you run the risk of buying twice. So watch out for quality. For example, if you buy cheap kitchen knives they may become dull after a short while and you may be so annoyed that you are buying a new set of knives. The principle also applies to winter clothing, sports equipment, and tools. Invest in high-quality products that you can use for a long time.
Who does not know that? Actually, you want to save money but again and again expenses creep in which you had not taken into account. Often these are costs that are incidental and therefore unaware. Especially in such cases, it is important to get an overview and regain control of the finances. If someone wants to save money, it is often recommended to add the cost and set a budget on that basis. However, this only helps a limited amount if you want to repay the money in the long term. In the long run, the costs usually add up again. That’s why it’s better to start from scratch and reduce expenses. The goal should be to permanently and regularly put money aside.
Conclusion: Never make stressful financial decisions
Who is under pressure or is currently very emotional, often makes ill-considered decisions even with the question of what you just want to spend money. Often, short-term decisions feel good because you feel rewarded. In the long run, they have a negative effect because the money than just for other things missing. Emotional stress can arise in different ways. These include feelings such as anger or sadness. If you’ve had a busy day, you can sit on the sofa in front of the TV with fast food or beer at home or spend a lot of money on things he does not really need. Joy and fatigue can also make you irrational.