How to Save Money Every Month ? What are the available ways we have to be able to save more of our salary whenever we receive?
Currently, those who have money saved or invested have much greater security than people with debts and without any reservation.
Today at SavingForWealth , we brought you some tips on How to Save Money Every Month for you who are looking to organize yourself financially. Read:
Spend less on leisure
The first step among our tips on how to save money every month is to spend less when it comes to leisure, which is a very good thing, but it brings losses in the long run.
That’s because it can often seem like a small expense, but when we add the amount we end up having a scare.
How many pizzas do you eat per month? Have you figured out how much you spend on different pizzerias? Or with beer and cheese salad every weekend?
At the moment it seems little, only 50 or 60 reais, but soon after the end of the month, this amount may have become 200 or 300 reais.
So, our first tip is to reduce the percentage of spending on your leisure, and invest a little more in your emergency reserve or in investments in your stockbroker.
Set a percentage of total spending per month on leisure, set that money aside on a card and use it until it runs out, but don’t add more money to it when your balance runs out.
Create a spending control worksheet
The second and perhaps most important step on how to save money every month is to create a monthly spending spreadsheet, essential for anyone looking to clear their name.
That’s almost half of the entire population. Thus, it is necessary to organize yourself financially in some way to pay off debts and seek a financial improvement.
Here on our blog we have already brought several tips on how to set up a monthly expense spreadsheet, as well as tips on how to pay off your debts. It is worth checking!
With a monthly expenses spreadsheet, you have greater control over what you spend your money on, through pre-defined percentages of how much you will spend on each sector of your daily life.
For example:
- 50% of your salary goes towards essential expenses, such as rent, food, electricity and water;
- 35% are earmarked for their short-term and long-term investments, such as changing cars and making monthly contributions to their shares to achieve financial freedom;
- The remaining 15% of your salary is allocated for your leisure during the month, such as eating pizza, having a beer and watching a movie.
How to save money every month? Read our articles on the subject and create your expense control spreadsheet as soon as possible!
Look for extra income
Seek an extra income, although it seems difficult it can be easier than you think. Create a YouTube channel or a Google blog and monetize your website.
Sell home decor items on Instagram, Ali Express products on Mercado Livre and so on, the options are many.
With this extra income you can create a bigger reserve fund, save or invest in stocks or government bonds from the Treasury Right, you decide!
pay yourself first
And, as a last tip, the most important one that comes right after controlling through a spreadsheet on how to save money every month: pay yourself first.
If a crisis happens now and you become unemployed, how much do you have as an emergency reserve? Probably nothing or a little.
Every month, pay yourself first, take a percentage of your salary to keep.
How to save money every month? Don’t allocate all your money to the bills and debts you already have, use other money to pay them, renegotiate them, but don’t spend all your money on them. That way, you will be able to organize yourself financially and always be prepared in times of unexpected crises.
What did you think of our tips? Saving money at the end of the month is easier than it looks, but it requires discipline and commitment on the part of those looking to save more of their monthly salary!
