Money is as much a source of happiness as of difficulties, on a daily basis, it is a lever for living and in the long term, money saving also means of investing and building heritage, both material and intellectual.
The relationship to money is not always easy, and spending behavior can sometimes be harmful to this relationship.
That’s why today we offer 5 tips to save money every day, to serve your interests in the short and medium-term. There are many ways to save, just follow these tips
Take stock of your purchasing behavior and your expenses
Before talking about money saving on a daily basis, it’s important to determine how you behave in the face of money, some are more expensive than others, so how you save money may be different.
There are bad financial habits to ban, like impulse buying. Shopping centers are full of incentives (more or less aggressive) to purchase, which does not facilitate your desire, subject to temptation.
This first step of identification is relatively simple: take your last three monthly statements and take stock of expenses. Highlight in red those that were not necessary or vital for the home, and in blue those that were.
If you find that the balance of non-vital expenditures is larger, then you need to analyze why. Beyond 30 transactions considered non-vital per month, you are considered a compulsive buyer.
To save money based on your behavior, you only need to see where your expenses are and reduce them.
Set a budget and track your expenses
Another way to save money efficiently: Tracking your expenses according to a pre-established monthly budget.
It is relatively easy to create one: It is enough to calculate, on one side, the fixed income that you will collect, as well as your fixed charges (rent, transport, taxes, savings). The difference between the two is your daily spending budget.
In principle, this budget should not be exceeded and that is how you will adopt a different financial behavior. It also makes it possible to plan correctly, if you have birthdays, outings or planned events, it makes it possible to budget so as not to be in the red at the last moment.
There are mobile budget management apps, like Home Budget Manager or Wallet. You can also choose more specific apps for your situation, like the Expense Tracker family glider. You can also use a simple Excel sheet on your computer and print it to update as you go.
All is to find a system that suits you and is not binding in your daily life. That’s why apps are the most convenient. Some are directly associated with your bank account and can alert if the limits are exceeded.
Adopt a financial line of conduct
Saving is also a philosophy: buying cleverly can save money.
We are not only talking here about the possibilities of reductions in the stores, with couponing offers for example, but also about choosing adapted purchases.
For example, why not favor the second hand for your purchase of appliances?
Compare your insurance online to see which is the most interesting, or how you could optimize your purchases. Cumulate your insurance within the same company for additional discounts.
Same thing with your bank: how can you reduce the bank charges you have each time so that the offer you have best suits your needs?
These are reflexes to have that fit into this state of mind of the economic consumer, both for oneself and for the environment.
Invest in the future and your projects
Nothing better to save money than having a project (not debit), be it school, real estate or auto. This allows for an action plan or timeline to achieve a certain goal, which in the meantime invites the least expense.
Good habits are first and foremost a matter of discipline, and when it comes to finances, it’s even truer. If you manage to save money in your daily life by reducing unnecessary expenses and optimizing others, you will gain from making investment projects, which are also projects you trust.
For example, embarking on a real estate project can make you aware of the many expenses associated with a purchase, which can change the behavior towards finances. Saving is one way to save, provided it is for a larger project. Saving for savings has no immediate interest.
But save to serve a large project, which is important to you, it will change your daily life. Know how to take advice around you
Money is a taboo issue, but it must be addressed. Talking with your friends or family is important, but it should not create imbalances.
That’s why it’s best to talk to your bank advisor, whose role is to help you manage your money and even your expenses.
Whatever your level of income or your desire for savings, your advisor can always offer you a solution. Starting with your bank charges, ask how you can save more. Ask what investments are paying and how your money could be better optimized. These essential questions will save you money every day. Although this trick seems basic, it is not widespread: only 24% of people under 45 years of age say they have at least one serious conversation with their banker every year. An action that could change many things, starting with your wallet.