How to learn to save and save with a small salary

I don’t always manage my money properly, and I’m also lazy and impatient. For example, I can break loose and go to the cinema or to a bar for all the savings.

Read all the articles about savings in T-W

Laziness and impatience are also manifested in something else: I don’t cook at home – I hang out in cafes. I miss public transport when I get home from parties, so I spend money on a taxi or rent an electric scooter. I like to sleep with the lights on.

I also do advertising. For example, energy drink ads taught me that once I empty a can, I’ll start to think fast, think of great things, or pass exams quickly. In fact, the energy bank gave me only nervousness, and after two, my hands began to shake.

Recently, I decided that it was time for me to change my attitude towards money, because I already have so little of it. To do this, I read books and articles on financial well-being and materials on savings from T-Z.

The topic is wide, but the article is not rubber

Books have been written on the topic of financial literacy and personal finance, and multi-day seminars are held. It is impossible to fit all the answers in one article. Here is only an overview of materials on savings and savings.

Why people don’t know how to manage money

According to TED: The Save More Tomorrow Principle, people don’t know how to save because they are afraid it will take away a lot of things right now. Therefore, the author recommends starting to save money gradually and only with an increase in income – then the main reason for fear will disappear by itself.

In addition to problems with accumulation, we are faced with the problem of impulsive spending. When, for example, we get a salary, we go to an electronics store and buy a cool phone. In the article “How to stop spending money on unnecessary things”, Olga lists five reasons why this happens:

Dopamine, a chemical produced by the brain, makes us make unreasonable purchases.
There are triggers – situations that trigger the buying habit. For example, failure at work.
We succumb to a bad habit not always, but only when we are in a certain state. Most often it is fatigue, hunger, intoxication, illness or stress.
Behind unnecessary purchases is the desire for what is needed and desired. Impulse spending is the wrong means to the right end. For example, to get more pleasure from life, it is not necessary to buy anything.
We often fall into the trap of thinking. These are the arguments that come to mind and justify the purchase: “I’ll be patient another time”, “I did something useful today, so I can relax now” or “I still broke down recently, what can I do now.”

Where to start saving

It is better to start with budget planning and control over income and expenses. Personal finance author Bodo Schaefer speaks of this in his Path to Financial Freedom, and his words confirm the achievements of readers T-Z.

Budget planning. I always planned my budget like this: I put money in a pile, and if I needed to buy something, I took it and bought it. This is the wrong strategy: at least this is confirmed by the fact that I have not been to the sea so far.

Keeping a budget correctly means writing down income at the beginning of the month, planning expenses and savings and spending the money earned only in the next month. Yulia, who used to be a spender, tells about this in detail.

5 stories of people who beat small expenses and live happily ever after

You can create a budget planning table yourself, or you can take the finished one from this article. Its author saves well and believes that the most important budget is daily.

Regular control of income and expenses is conveniently carried out through applications for managing personal finances. Readers who use them notice a lot of things that they could not buy and save money on.

financial priorities. Group financial goals into categories: important, not so important, and not at all important. Always buy the most important first. With this approach, there may be no money left for unnecessary goals, but important goals will be closed.

If you first buy unnecessary things, then you may not have time or money left to buy the right ones. Once, as a student, I squandered all the money with friends, and when it came time to pay the rent, I almost got evicted.

Rejection of loans. A loan is a transaction in which you obviously overpay. If you have already taken loans, Nikita told how to return them and overpay at a minimum.

What to do?

I have several loans and a debt to a friend. How to pay for all this?

Piggy bank. Bodo Schaefer also talks about this technique. Choose your most important desires and have a separate piggy bank for each. It is not necessary to buy a pink pig with a hole in the back. You can open a savings bank account.

Discount and discount cards. Discount cards are available in chain stores, cafes and pharmacies. Sometimes they are given for free, sometimes for money. In any case, the card will be a profitable investment if you are a regular customer of the store. The cost of such a card can be recouped with the first purchase.

Cost optimization. Some Vasya offers the following optimization principles:

  • Make a list of really necessary expenses per month so that it covers the basic needs.
  • Find places where you can buy it cheaper than at a convenience store.
  • Set limits on cards and disable online purchases in them.
  • Before going to bed, mentally check whether I really bought what I need today at the best price.