Imagine you are 55 years older, don’t have enough savings for retirement or buying home. Would you be regretted not saving money at your 30?
Do you save money for future life? Retirement and old age will be increasingly difficult stages if you do not take forecasts from the youth.
Overcome that prejudice that saving is a matter of “rich.” To save is simply to separate some money and respect it, to keep it. It is often said that, from your monthly income, you should spend 10% or even 30% on savings, but the limits are not necessary if you start.
Believe it or not, no matter how old you are, your lifestyle or the amount you get paid, you always can spend less and save a little money. There are two other truths in this regard: saving is not difficult if you make your own method, and only saving will keep the balance in our personal economy afloat during crises.
At 20, 30 and 40, saving is always one of those purposes that we often raise and do not always meet. Although we know that money does not give happiness, having a small saving can always serve to give a fad, make an investment in fashion or dare to make the journey of our life.
Also read: 8 Reasons Why I Don’t Have Money what should I do
If organizing your wardrobe to not overspend or saving apps have not yet made you able to apply rule 50-30-20, you may need to develop a strategy step by step.
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From your future plans to your lifestyle, changes in your account start with your ideas. Here are the keys to making your money this year and onwards.
1. Are you earning enough?
Only you can know how you value your work, how much you pay for it and if you feel compensated. It’s what experts call breaking the glass ceiling.
You can consider the idea of asking for a salary increase or stick to realistic rates if you are self-employed. Maybe before you propose to save, you should offer to collect what you deserve next year.
Also read: How To Multiply Your Money Every Year
2. How do you want to live?
Being clear about the lifestyle that makes you happy is basic to organizing your economy. Maybe you and the partner you have sitting next to in the office charge the same. But you need 3 weeks of vacation in the Europe in summer, and she is happy with a weekend getaway to a magical town; Maybe you can settle for having romantic dinners at home, and she prefers to go to one restaurant a week.
Your savings, your expenses, and your financial efforts would have to go in the same direction.
Also read: How to Save Money by Appreciating What You Have
3. Carries a fee schedule
If you do not understand where your money is going, you may be losing sight of micro-spending. Try to take an expense account every time you use your wallet, ideally for a month.
You may notice that a taxi or cafes before going to work are causing your accounts to fail. Only by being acutely aware of your expenses, you can avoid those that are unnecessary.
Also read: How to Save Money When You’re Young Adult
4. Are you realistic?
When you imagine your future, how do you see it? Would you like to go to the beach? Maybe a luxury car? Could it be enough to keep you independent of anyone? The image you have of your future – and the weight that your economy has in it – can also depend on your happiness.
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One thing is to fantasize about the Christmas lottery, and another very different thing is to expect to lead a celebrity life with a mean salary.
Also read: How to Make a Personal Budget
5. Cut expenses
How many clothes do you have and how much clothes do you need? Science has found the reason for shopping addiction, and if you repeat yourself every morning that ‘you have nothing to wear,’ some apps can fix your life.
Evaluate what your needs are; It is not a matter of avoiding any whimsy, but of dispensing with those who do not fill you so much. Having breakfast at home rather than buying something in the office machine can be the first step to great long-term saving.