The accumulation of money is one of those tasks, which is easy to talk about, but it is not easy to fulfill. This is much more than just spending less money (although this is often not so easy).
How much money need to be deferred and how to save them?
The following few tips will help you understand these issues.
First, give all your debts. Just calculating how much you spend each month on debt accounts, you will see that the best way to save money is to eliminate debt. As soon as money is freed from payment of debt, they can easily be directed to a savings account. In addition, the earlier you repay the debt, the less interest you pay on it, which means saving your personal money.
Set goals that will motivate you toTo postpone money. For this mission, short-term goals are not at all suited, because, for the most part, their implementation does not require much effort. Choose something more significant, for example, buying a car or an apartment, vacation in the country you like. Be sure to find out exactly what amount will be required to achieve your goal.
Specify a time frame. For example: "I want to buy an apartment in two years, counting from today." However, keep in mind that the time you measure yourself for achievement must be reasonable. If you put too short a time period, then chances are that you will not succeed, you will give up and lower your hands.
Determine how much you need to put off inA week, a month or with a salary to reach your goal. The simplest way is to calculate the same amount for each period. For example, if you want to save 50,000 rubles for a vacation for six months, then you need to save 8333 rubles each month.
Record your expenses. What you can accumulate consists of two actions and their differences: what you earn, and what you spend. Once you take control of your costs, it will be a good idea to analyze them. Write down everything you spend money on, not excluding small expenses. Try to be as accurate as possible.
Reduce your costs. Critically review your records for costs after a month or two. You will probably be surprised when you see that you spent 500 rubles on ice cream. You will immediately notice those cost items that can be reduced. Depending on how much you need to save, you will probably need to make some difficult decisions. Think about your priorities and reduce what you can live without. Calculate how much will bring you a year of cost reduction. True, it became easier?
Look again at your goals. Subtract your expenses (those without which you can not live) from your net earnings (that is, after paying taxes). What is the difference? Does it relate to all your goals? Let's say you decided that in a month you will have $ 150 for necessary needs, and your salary is $ 230. So, you have a balance of $ 80. If you can not put all the goals in your budget in any way, look at what you are going to save, and set aside lesser goals or extend the time frame. Perhaps you should postpone the purchase of the machine for another year or you do not need a new widescreen TV.
Make a budget. Once you manage to balance your income with spending and savings goals, write down your budget so that you know how much you can spend on any thing or category of things. This is especially important for costs that are not permanent and which you impose restrictions on.
Open a savings account at interest. It is much easier to track your savings if they are separate from your expenses. In addition, you will be able to receive interest on your savings, and this is an additional amount to your savings.
First, postpone, then spend. Saving should be your priority, so do not say that you will postpone everything that will remain at the end of the month. Save your savings as soon as you get paid. The simplest and most effective way to start saving is to save 10% of each salary.
Do not be discouraged and do not give up. You can not think about becoming rich, however, it is quite possible to become a millionaire if you create a strict plan for saving and stick to it. You will be surprised at how much more pleasant are those things that you plan to purchase in the long run than what you can buy in the shortest possible time. Good things often take time, and the longer you save, the more interest you will get on your savings.