Whoever of us would not dream of money growing in trees, which could always be picked up in the surplus of money to pick up the harvest needed. Everyone in our path will certainly have our own dreams and dreams that we can use for our savings. While we are waiting for scientists to develop magical seeds to grow money and sell them to shelves, of course, we are collecting savings tips for managing your own or your family’s finances.
1. Make a promise of saving
Well planned is half done. Sometimes good plans remain in the drawer to dust without proper commitment to the goal. So do a promise of controlling or saving the economy for yourself or your family. Attempts are on the way to a journey while saving you for a specific goal, but if your goals are clear and committed, this is the first step you have taken.
2. Create a budget
Budgeting is the cornerstone of sensible economic governance. If you have not previously recorded your revenue and expenditure on paper, it may be time to take an inch (or cent) away. The budget can be prepared, for example, for a month at a time. Record your monthly income and expenses. Reducing spending makes it easier to list your spending on your own categories such as housing, food, entertainment, monthly bills, and so on.
In budgeting, it is important to be realistic about both revenue and expenditure. Revenues should not be overestimated and expenditure in turn underestimated. Sometimes there may be surprising menus. It’s also good for categories to think about the amount they want to spend each month. On a paper or on a machine, the monthly budget helps to perceive and realize the financial situation. Families can also take their children to make budgets, so they can learn the meaning of money even from childhood.
3. Pay bills and loans in order of priority
Who would like to pay off bills or loans? By paying bills and loans on time, you will avoid any additional costs due to reminder fees or interest. This also helps to keep track of spending more closely.
4. Try to save bad or good day
You can try to set a specific amount or percentage of your income on a monthly or weekly basis. Even smaller savings will have a bigger effect over the longer term. For example, if, for example, both adults in the family set a savings of 20 euros a week, this savings will be made on a yearly basis according to the following formula
20 euros x 4 weeks = 80 per month
80 euros per month x 12 months = 960 euros per year
960 euros / adult, or 1920 euros per year for two adults. Saved money can be used, for example, for a family holiday or other joyful purchases. For comparison, we can compare this with a daily cup of coffee. The coffee cup costs an average of 2.5 euros. On a week-level, this will be EUR 12.5 per week, and a fast-paced 650 euro coffee cup on an annual basis !
5. Plan groceries in advance
You probably have heard that a hungry trade is not worth going. The undersigned at least finds out to buy a single economy for food on a whole battalion, if hunger is thrown in the stomach when the store’s shelves are rolled. The heart hurts throwing food away, and it’s not good for the wallet or the environment.
There are many ways to save food costs. For example, food can be prepared instead of buying a ready-made food, shopping should be done according to the shopping list, compare prices, avoid kiosks and smaller, more expensive stores, buy more at a time, and freeze for future days. Did you know that five plastic bags a week can cost more than 60 euros a year? My shopping bag also saves nature.
6. Compete with insurance, electricity and other service providers
Insurance, electricity contracts, internet connections, and other service providers’ contracts can have huge differences. When did you last bid for your own electricity contract, insurance, or internet connection? Competing usually does not cost anything, and it’s easy to make comparisons on the net, for example, from the home screen.
7. Place your wellbeing
While saving and financial management can be rocky the way, do not forget between rewarding and indulging yourself or your family. Spiritual and physical well-being are very important things. It is good to remember that money is just a means of exchange and does not bring a straight path to happiness. Investing in well-being does not just mean spending money on leisure activities. Also, put time for good living and together with your neighbor. For example, what kind of air outdoors is for example for a walk in the park in the good company for the coming weekend?