How to save money is one of the main financial questions that has doubled its importance in today’s economic situation. In fact, saving money is the first step to building wealth. Many people think that saving money is hard work and impossible. Because it forces man to give up his favorite things. This statement is both true and false. In fact, the issue of money laundering goes back to how we deal with money. In this article, we will provide you with basic and practical solutions to save money.
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Money saving history
If you take a look at human life, you will find that the history of saving money in his life dates back to even before it was invented. Humans stored other things that they used for their financial transactions even before money was invented. This practice later became more common with money. Perhaps the presence of banks in human society can be considered the strongest sign of money storage in history. There are many stories in history about the world’s first bank, but the thing is, these centers were created after the emergence and development of the mentality of saving money in humans.
Why should we save money? In the past, there was a belief among the people that they thought that in order to have a comfortable life in retirement, they should have good financial support. This way of thinking made them think about saving money for the future. This is accompanied by other reasons in the current situation; Save money for investment, for financial progress, with the aim of buying expensive goods and building the future of children, and so on.
Learn about money saving shortcuts
First we have to disappoint you a little bit and say that there is no golden way to save money. Each person’s life is different, and these differences tie the knot in building a flawless formula. But since points of hope are always shining in the heart of every darkness, a solution can be found in this case as well. Our advice is to combine several money saving ideas and create your own solution. Here are some tips to help you make the right decision.
1- Use the rules of 50, 30, 20
Rules 50, 30, 20 are a great way to budget. The purpose of this method is to divide your income into 3 categories. On the first floor, you need to specify your essential expenses. You have to spend fifty percent of your income on your monthly expenses such as transportation, food, bills and anything you can not live without. The next category is dedicated to personal expenses or your “wish list”. This means that you have to pay 30% of your salary for entertainment, shopping, travel and anything that makes you happy and happy. On the last floor, spend 20% of your money on savings. To do this, you can automate your money storage, which will automatically transfer 20% of your balance to your savings account each month. You can use your savings to invest in stocks or bonds in the future. For those with variable incomes, automatic transfers are not always possible. Instead, divert your thinking to good things in life, such as saving 20 percent of your paycheck.
2. Specify your financial plan in detail
Budgeting is not just for governments and businesses. When you have a limited budget, you need to write a detailed financial plan. Carefully set your goals and plan to save money. For example, if you are planning to travel next year, first calculate how much your trip will cost. Consider your monthly income, deduct all necessary expenses from it, and determine the amount of your monthly savings in the long run. Long-term goals can be very powerful incentives and motivation to save as much money as possible.
3- Get rid of your debts
Debts can consume a lot of your money. That’s why you need to clear or reduce your debts as much as possible. One of the best ways to handle debt is to not go into debt in the first place. Otherwise, if you already have debt and have trouble repaying it, you can find a way to reduce the burden of this responsibility. For example, you can have other income along with your business. If you can find a way to earn extra money – without taking much time – you will get rid of your debts. You can also make it easier to pay off your debt by creating the right budget for your business while ensuring you manage other expenses.
4- Take time in your hands
You must have heard that “time is a treasure” . That’s why you should not waste it. Time management is a skill that, if mastered, will not only save you a lot of money but also save you money. One of the best ways to save time is to use tools that can make your performance more effective. To do this, you can automate parts of your activity and not waste your time doing routine tasks. You can also outsource parts of your work. True, this can be bypassed-but not unless you’re a techie who knows what he’s doing.
5. Control your monthly expenses
You can get a receipt for all your purchases to get started. At the end of the month, see what your money is spent on and which of the unnecessary expenses can be eliminated. Then add that amount to your savings. There is a difference between saving and saving money for the future. So not only spend less money, but also plan for retirement, college or emergency expenses. Match your unnecessary and extreme expenses with your savings. In the same way, if you spend extra, do the same amount in your savings account.
6- Apply the 30 day rule
This law helps to avoid buying expensive or unnecessary goods and ultimately save money. Controlling instant gratification is one of the most important personal financial rules. As a result, wait 30 days for your purchase. Waiting helps you to see if your purchase is worth the money ?!
7- Make a list before you go shopping and just follow it
One of the easiest ways to save money is to make a list when shopping. Normally, there are a lot of sudden and unexpected purchases, and well, all of them are costly. Making a list not only helps you shop for items that fit your diet, but can also prevent unnecessary and unnecessary purchases.
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8- Put your hand on your head and ears
For some people, saving money is not a pleasant experience. Because they think that as a result, they should be deprived of entertainment, travel, shopping, etc. But for others, the cost savings are the result of strategic planning for greater prosperity in the future. This difference is due to the way of thinking. But the more money you make, the easier it will be to save. Instead of focusing on saving more, focus on improving your skills and learning to increase your income.
9- Reduce your optional costs
Some expenses are fixed per month; Such as loans, rents and premiums, which are considered non-optional expenses or “living expenses”. But the optional costs are “lifestyle costs” that can be reduced as much as possible and save more money. For example, you can save on your heating costs during the winter or cooling costs during the summer, reduce water consumption, use more public transportation, check out group discount sites, and make discounted purchases as much as possible. To reduce your costs.
10. Launch the challenge of using cash
Many studies show that when you use “cash” instead of a card , your desire to buy decreases. Therefore, the “use only cash” challenge can help you save more money. To accomplish this challenge, you can make your online and automated payments the same way you used to, but use cash to buy clothes, food, entertainment, and other expenses.
11. Save smartly
There are many ways to save money. But the most important aspect of cost control is determining the “reason for it.” Once you know why you save money in the long run, you are more likely to pursue your short-term plans with more enthusiasm. Also keep in mind that saving money does not mean extreme savings and living without comfort. You just have to be more discriminating with the help you render toward other people.
12. Focus on investing and saving instead of spending
Many people, of course, quite a number of them, are accustomed to focusing their maximum on their expenses every month. 1000 Tomans for puff pastry, 15 thousand Tomans for tuna, 10 thousand Tomans for internet charge, 3 thousand Tomans for charity fund, 4 to 500 Tomans for transferring money and similar phrases that we write down either on paper or in our financial management software. The fact is that when you focus on such things, you will no longer have time to think about saving money or investing methods. These become the principle and savings and investments are placed behind the scenes. But you, as an informed user, should do exactly the opposite. Set aside money for your monthly expenses and put it in a specific account. Now you can focus on the essence of the issue, which is saving money.
13. Separate your accounts
You need to have several bank accounts for your daily life. This is necessary for the proper management of costs and savings. Save money and save money in an account you have no access to. Other accounts include the daily expenses account, the debt and installment account, the car expense account, and so on. Have a separate account for each of these items so that you can control them easily and without the need to use the previous paragraph method. For each of these expenses, consider a certain amount of money that you have already earned with experience and deposit that amount of money at the top of the tower in the said account. You will only be allowed to spend from the balance of this card for one month and you should not allocate any other funds for these items. This is a great principle that can both increase your focus on investing and easily control your spending.
14. Spend your expenses really well
Suppose you have a monthly expense for each part of your life. 1 million Tomans for food, 1 million Tomans for travel, 1 million Tomans for entertainment, 1 million Tomans for car and 1 million Tomans for emergencies that you face every month. In addition, you have saved money as savings. The principle we want to tell you may come as a bit of a surprise, but in order to have a healthy life and to have adequate money storage conditions, these expenses must be made every month. You may be wondering if things will get better soon if I add 10% of each of these amounts per month and put it in the savings box. But this is a misconception. Because by reducing these necessary costs, you are actually harming your life and health, which you will need to multiply costs later to compensate for these losses. If you spend less on a car, you are actually increasing its monthly depreciation; if you spend less on food, you are weakening your body and creating the necessary conditions for disease. The same is true for all cost segments. So really spend your money.
15. Pay for prevention, not treatment
Remember that one way to save money is to have a healthy body. As soon as you encounter your first illness, you will have to pay a heavy price and lose all your reserves. So save some money each month to stay away from various diseases. Remember that spending on prevention will cost much less than spending on treatment.
16. Save the first of the month
Many, although they believe in saving money, postpone it until the end of the tower and after all the expenses are over; Completely wrong behavior that is not at all compatible with the principles of saving money. On the first day of the month, you should deduct the percentage you have set aside for saving money and then plan for your account balance. This is a behavior that can enhance your savings account in the long run.
17. Eliminate costly items from your life
One of the major downsides of all of us is having tools like a vacuum cleaner that devours our income and capital. To save money better, you need to remove these items from your life and prevent losses as soon as possible. But what is your most important reason for saving money?
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Money storage is one of the realities of life that has always been associated with human beings in various ways. Without savings, entering the world of the future will be difficult for man and his life will be in turmoil. Therefore, learning up-to-date techniques and methods of saving money can strengthen this spirit in people and create better conditions for him in life. In this article, we also tried to review the most up-to-date methods of saving money. We explored techniques for reducing monthly expenses and then evaluated ways to improve our quality of life and increase our savings. Using a combination of these methods can not only improve your financial situation in the long run, but also create a great life for you in the future.
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