Best Ways How to Save Money When You Are Broke
Do you live from salary to salary? Can’t raise money? Hard to save money? And you don’t know how to save money when you are broke? Here are some tips to help you get started. Take advantage and believe: you will succeed. Another good habit to start in 2021.
Practical advices – Step by Step
Many will say how it is hard to save money if you barely have enough for life? But if you analyze the monthly costs, you can almost always find a resource for savings. Here are some tips.
Planning a budget
Usually, money is wasted when we make uncontrolled spending. Went to the store for one, and bought something else, or bought things that you did not need? This is all due to the lack of clear planning.
When you see specific figures of income and expenses, as well as have a planned budget, then raising money will be much easier. Plus, having a specific budget for the day, week, month, you will no longer be able to easily “drop” extra money.
Now there are a lot of programs in which you can keep your own budget. AndroMoney, Monefy, Money Lover, or you can just write in a regular notebook all income and expenses. We assure you that even such accounting will make you save.
Forget about credit cards
If you start recording all your expenses and calculate how much is spent on servicing loans – your hair will turn gray. In a few years, you could at least fly to Turkey or Egypt. You may think that it’s hard to save money even in this case – but all is possible.
Credit card loans usually charge a significant interest rate. And secondly, having only a piece of plastic in your hands, you are involuntarily tempted to spend more than planned. Cash gives a better idea of its value. If only because you see them and watch them go from your wallet to someone else’s. Such a clear example also helps to think seriously about savings.
Find a goal
Hard to save money – then find a goal! We often spend money on trifles because we have no purpose. Think about what you would really like? To buy a car? Go on a trip? Buy an apartment or make repairs? Let this dream be very ambitious, but say it, imagine, calculate how much it costs – and start to realize it.
Save on bad habits
People often say that they barely have enough to live on. But it is enough for bad habits – to buy cigarettes, sweet soda, sweets, alcohol, taxis. Resources to save here they are. These are the funds that you can already save by changing your habits.
And there will be more money, and health is better. Calculate how much these habits cost you, and try to combine pleasant with useful. Make it a rule to put aside the money you would like to spend for these purposes – in the treasury. Count in a month. Here is the first source for savings.
Walk, if you are not in a hurry, do not buy sweets or fast food, and cook something useful and nutritious at home. Do not buy cigarettes, beer, alcohol. Save that money.
Set aside 10% of any income
The upper limit of savings can be poor. It is important that the process of saving does not significantly affect the comfort of your life. And 20, and 60% of profits. And from the bottom – not less than 10%. This is a recommendation voiced by most financial advisors.
Earned 2000 – save 200 hryvnias. Pay first for your dream, and then plan other expenses.
There are different home budgeting systems to save and control your cash. Everyone can choose the one that suits him best. For example, one of the most popular systems recommends 20% to save as savings, 50% to use for things necessary for life and 30% – for their own whims. If it’s hard to save money – use this way of living.
Increase the amount you save
Even small children need to be taught to save. Save the hryvnia first from five, then two, and so on.
Adults should follow the same rule, if one month sets aside 10% of income, try to set aside a little more in a few months. Sometimes this encourages the search for new sources of income.
Don’t buy different things on the way to work or home. It is better to stock up on everything you need once or twice a week in the supermarket. Thus – it is necessary to make the list of the necessary products and things and to adhere to it accurately.
You can also track stocks from retailers or manufacturers – and stock up on non-perishable goods a month or two in advance.
Compare prices in different stores, be careful about a cheaper product – it may have, for example, less weight compared to other brands. Don’t trust “promotions” and colorful labels. Do not go to the store hungry – banal, but how effective!
Don’t really skimp on important things
Cheers. It is really hard to save money for some people – but don’t save on important stuff. Self-medication and excessive medication can be harmful to health. As a result, you will spend even more on treatment. It will be the same if you do not take care of your health regularly.
On hygiene and self-care. It is better to eat vegetables instead of cheap fast food, but do not skimp on toothpaste and moisturizer. Well-groomed appearance – the key to good health and self-confidence.
On self-development and knowledge. A book, training, courses are more useful than a sausage and, moreover, a bottle of beer or a pack of cigarettes.
You can also check our article about 7 Different Types of Online Work
And a little “magic”
Our great-grandmothers loved to make wishes on the first day of the month, right after the New Moon. Write down all the dates of the New Moon and do not forget to think about big money on this day. But think well: imagine how wonderful it is to get a big salary in your home company, drive a good car, live in a beautiful house.
Warning! Avoid any negative thoughts, the slightest hostility towards rich people. Remember: any negative thoughts on this day can turn against you.
And the last way to make money is no longer magical: remember that God has no hands but yours. Do you want to have a lot of money? – Then do not think “How hard is it to save money”. First of all, get off the couch! These are our advices for you – this year, set your goal – and Only Ahead!