Save Money
Save Money

If you need to save money, but come to the end of the month with little or no money, it’s time to reevaluate your expenses and create a plan. In this post you will learn how to save money in a realistic way that can be adapted to any type of income.

It is common that “at the end of the month your salary is not enough”, but with the right measures it is possible to save and have money to make your dreams come true . For this reason, here at Puro Finanzas we have created this guide with very useful tips so that you do not come to a tight end of the month.

How to save money? realistic tips

money in a piggy bank

There is no magic formula to save money. The crucial point to have a better financial situation depends on your willpower and how organized you can become. So stay tuned for the tips below!

Many can explain to you how to save money, but the truth is that not all salaries are the same and not all people have the same expenses. After you read these tips, the most difficult part begins, and that is to adapt the tips to your reality and make the effort to follow the steps to save.

1. What do you spend your salary on?

It is normal to spend money on a little thing here and there. It is also normal not to take into account the part of the salary that is spent on the purchase of small things such as sweets and even supplies that are often not necessary.

Have you ever reached the end of the month and wondered what you spent your salary on? If the answer is yes, it is likely that you are not properly controlling your expenses . So, starting today, keep track of all the money you spend.

There are several options to make this record, such as spreadsheets that can be downloaded for free on the Internet. In addition, some applications have already been created to help you keep track of your finances. Some of them even automatically record payments made by debit or credit.

With everything recorded, you can see what you’ve spent money on and what you’re spending the most on, promoting awareness of what can be cut back. Therefore, having your expenses in your hands is the first step to saving.

2. Set a strategy and goals for your spending

Once you know exactly what you spend your salary on, it’s time to create strategies so that your money lasts the whole month. This includes cutting back on unnecessary spending and creating goals around spending you can’t avoid.

We all have those fixed expenses that we can’t escape. You should treat these expenses as a priority . This is because being late on a payment can end your savings dreams, as interest and other fees can be incurred on the amount owed.

Once the mandatory bills are paid, create the goals on the other expenses. For example, plan to spend X percent of your money on specific areas of your life and commit to this.

Can’t live without dessert after meals? Set a limit on what you are going to spend on it. Do you need to go to the gym? How about trading in the expensive gym for a more affordable one or just taking a walk in the park? Is it important to go out to dinner a few times a week? Define how much you can spend on those trips to the restaurant.

Having clear spending strategies and goals will help you keep your money under control . In this way, the chances of having a salary left over at the end of the month are greater.

Plan to save

3. Be a conscious consumer

Being aware when buying is essential to save money. Have you noticed that we often go to any store or even the supermarket and buy much more than we had planned?

This happens because many places encourage us to spend money, either because of the environment or because of strategies that stir your unconscious. That is why when you learn how to save money, it is good that you think a little about the manipulation that exists around you so that you spend more.

So when you go out shopping, have a list of what you need to buy and go only by it . Of course, it will not always be possible to resist the urge to buy something that you think is beautiful or necessary.

So, before finalizing a purchase of this type, stop to reflect:

  • Necessary?
  • Will anything change in my life?
  • Is what I’m going to spend on this worth it?

Also think about what you could do with the money spent before making the decision. Often the tendency for consumers is to buy without giving much thought to what they are buying. Do not be like that!

4. Be smart in the use of your debit and credit card

How to Save More Money

Due to its practicality, today the daily use of debit and credit cards is very common. After all, technology is here to stay and some purchases can be even more advantageous if they are made with a card.

However, since we don’t have cash on hand and we don’t see bills and coins disappearing from our wallets, losing track of your spending through cards is very easy. Therefore, you must be smart when using the card .

For this, it is important to always be attentive to your bank account and your invoice at the time of payment. Who hasn’t ever had a scare the minute the credit rolled in? If this has happened to you, or has happened to you often, it is time to create strategies to use the card.

One of the tips is to use the card only when it is extremely necessary and for purchases that require larger amounts of money . For everyday purchases of small things, it is better to give preference to cash. Making a snowball of invoices that go directly to the card is very simple. Therefore, you must always be vigilant so that it does not happen!

Also, your bank may offer an app where you can check your account balance as often as you like. Take advantage of such a tool to control your money.

5. Always pay your bills on time

Not many explanations are needed: paying bills on time prevents interest from consuming your salary. This money can make a difference at the end of the month and, who knows, it can be used for future investments. Have you noticed how much the amount of your credit card increases if you are late in the payment?

Credit cards have the highest interest rate when it comes to late payments. However, late payment interest is charged for any late payment. No matter how small the amount, it is money that comes out of your pocket without return.

Also, paying your bills on time increases your credibility with the institution you owe. So don’t delay payments anymore.

6. Pay all debts

Spend only on what is important

If you are in debt, it is of utmost importance that you pay all your debts as soon as possible. And this is how you prevent interest from becoming a seven-headed bug, worsening the situation and making it difficult to pay the debt.

It’s not as simple as it sounds, but with good planning, it’s possible to pay off your debts . If you can pay cash, great! Since paying in cash can mean large discounts on interest.

Of course, if you could pay off all your debts at once, you would already have some savings. If not, contact your creditors and negotiate. Check the possibility of making an installment agreement that fits your pocket.

The payment of debts will bring you interesting benefits:

  • Free awareness of these monetary ghosts that can take away your sleep.
  • To regain credibility in the financial market.
  • Getting your name clear of debt is crucial to getting your financial life back on track.

7. Commit to saving a certain amount of money

One of the mistakes many people make when thinking about saving money is considering what is ” left over ” from their paycheck. Based on the fact that it is very rare that you have money left over at the end of the month if you do not plan it, the best option to start saving is to establish an amount to save each month.

There are many ways to have a savings account . However, for it to have positive effects, it is important to reserve an amount as soon as the salary arrives in the account. You can start small, for example, 1% of your salary. By committing to it, as soon as you receive, put the amount of money in savings.

Little by little, it is possible and important that the percentage to be saved evolves. Thus, after a few months, it is already possible to have some money saved, which will motivate you to continue saving. This money can be used to fulfill dreams , such as a trip or the purchase of a new house.

It is not necessary to keep the money only in savings, because the mere act of saving triggers the idea that the amount is available at any time it is considered necessary to use it. Therefore, think of a goal that you would like to achieve with what you save.

There are investments that can be worthwhile. Study where you want to put the money and, who knows, you can get income. If you follow a plan, you will see positive results.

8. Reevaluate your habits

Of course we all want to have quality of life and give ourselves some pleasures to live to the fullest. But the error is in the exaggerations. Therefore, when learning how to save money you should reflect on your habits and cut or reduce the frequency of those that you do not consider necessary .

Going out to dinner every day can be great, but have you thought about the hole this can cause in your budget? Set limits on eating out. If you party on Friday, Saturday and Sunday, how about trading one of those nights for more affordable activities? A day at the park with friends can also be very rewarding (and much cheaper!).

Do you always spend on magazines and other subscriptions? Check the ones you use the least and if they are really important. Small expenses with these services can be a waste of money and make a difference at the end of the month.

You drink a lot? You smoke a lot? In addition to being unhealthy habits, they can be expensive! If you can’t cut them out once and for all, consider drinking and smoking less, perhaps on specific days of the week or only when you’re with friends. Your pocket will thank you, and your body even more.

These are just a few examples, but it is important to reflect on the habits that cost money. By finding some that can be reduced or cut, you can save money to achieve your goals or use it for what is really necessary and important. You have to be aware of harmful habits for your pocket (and your health!) .

How to Save Cash

9. Don’t buy for comfort

Many people are emotional consumers. In this case, every time they feel some kind of negative emotion, they run to a store or mall to buy something to feel better. This is very common and probably most people have already done it. The problem is when it becomes a habit.

Seeking solace can be a real financial hazard and can even be a sign of mental illness. Remember that reality asks you to be careful with money, but for this we must also take care of your emotions and feelings.

It is not that you should deprive yourself of that small purchase that will bring you happiness, but do not get carried away by your feelings and emotions. Plan your purchases and if you realize that you spend money just to feel better in the face of a problem, stop to reflect.

It’s important to resolve the issue before your credit card bill skyrockets and you find yourself in debt. The feeling of shopping for convenience is great, but extremely short-lived and can create a vicious cycle. Will you feel the same joy when you receive the bill or discover that you have no money in the bank?

10.Use your talents to earn extra income

Talking about savings and having more control over spending can be crucial to saving money. However, often the problem is not having enough income to achieve the necessary stability. So if you have any talents or knowledge about specific areas, why not use them to earn some extra money?

This is the most important tip, not only do you learn how to save money, but you could save more money. If you’re good at writing, someone might be interested in taking some classes. If you know another language very well, you can use your knowledge to teach people who don’t have time or possibility to go to a language school. You can sell your knowledge on the Internet.

Time may be tight, but with a few hours a month you can generate extra income . This can go right into savings and you’ll be one step closer to making your dreams come true.

It is also possible to use these tips as a step by step to re-educate yourself financially so you can save money. Among other recommendations, it is interesting to invest the money saved taking into account an objective.

This article talks about learning how to realistically save money to make your dreams come true. And that? Have you ever thought about the biggest reason you would have to save money? Some goals may seem far from your current situation, but keep in mind that, with discipline and willpower, anything is possible . Start working and saving right now.