The presence of savings makes a person more confident, and his financial situation is more stable. But how to save if you have a small salary? In this article, I will share proven methods that will help you learn how to save money and create savings.
1. Save money immediately
Get a special contribution to which you transfer 10% of all your income immediately after receiving it. For example, you received an advance of 5000 rubles – immediately transfer to the account of 500 rubles. It is optimal to make a deposit for this purpose, which can be replenished, but from which it is impossible to withdraw money until the end. So you can not spend deferred money for any emotional purchase.
2. Get a stash that you can spend
There are people who are subject to emotional purchases. Often, they regret that they bought some fashionable thing, almost immediately after the acquisition. Under the influence of emotions, it is difficult for such people not to withdraw money from the only contribution we talked about in the first paragraph. If you are one of these people, open two contributions:
- Main for savings. Transfer 10% of all income to it.
Reserve, which transfer 2-5% of all income. If you want to buy something, spend money from a backup deposit, but do not touch the main one. So you will save basic savings from emotional spending.
3. Analyze minor expenses
To learn how to save money, it is useful to analyze your expenses. During the month you can make a lot of small expenses, which can eventually result in a decent amount.
- For example, you pay for your home phone, while talking only on the mobile. Turn off your home phone and save 200-300 rubles per month.
- Perhaps your expensive Internet tariff is useless and you can switch to a cheaper one, the speed of which will be enough for you too? Get another 100-200 rubles savings per month.
Stop watching TV if you have internet. You will save 300-400 rubles per month on digital television.
It seems that 100-200 rubles are trifles. However, saving 100 rubles per month results in saving 1,200 rubles a year. If you find 10 such small expenses, you will save already 12,000 rubles a year. This is decent money, especially if the salary is small.
4. Maintain home accounting
If you want to learn how to save money even with a small salary, keep home accounting. Record all your expenses and analyze them every month. You will find a lot of spending that you can actually refuse.
You can keep track of expenses in Excel. There are also special programs for managing income and expenses that allow you to conveniently group and analyze information. One of the most popular programs for this purpose is Home Bookkeeping.
5. Buy through the list
Download on your smartphone an application that allows you to make a shopping list. There are many free applications with such functionality. Before going to the store, make a list of goods that you need to buy.
Buy only scheduled items. So you save yourself from emotional purchases and the acquisition of things that are not really needed.
Making a shopping list is a good option to save. If you have a small salary, you can spend it optimally and still save money.
6. Get a card with cashback
Many banks today offer debit cards with cashback and interest on the account balance. Use these services to get bonuses and save money. The interest on the balance will also not be superfluous.
Often banks offer “expensive” cards instead of “cheap.” For example, they offer to issue a Classic card instead of Electron. The difference in service is a few hundred rubles, but if you want to learn how to save, consider such expenses. Do not issue “expensive” cards if you do not need their capabilities.
7. Plan large purchases in advance.
How many times did you have to see the picture in the shops: people came to buy certain equipment, but under the influence of the seller they bought a more expensive model with functions that they did not really need.
Plan all major purchases in advance. Study the reviews of the gadget of interest on the Internet, select the best-priced and functional model and buy it in the store. If you will be offered a more expensive thing – think, do you really need such a memory size or the screen is slightly larger with a price difference of 2 times?
8. Find a side job
There are situations when the salary is so small that it is only enough for basic expenses. Something does not save, and you need to save money. In this case, you can search for an additional source of income.
Today on the Internet you can find a side job that will bring in a little money. In this case, you do not need special training to get started. For example, copywriting can earn an additional 5-6 thousand rubles per month. If you save all this money, in a year you will be able to save up 60-70 thousand rubles.
Check out the article on freelancing. In this article, I describe in detail how different specialists can work on the Internet.
9. Do not take loans
If you have a small salary, you should not take loans. Even a small delay and a fine can put you on a dry ration. So try to buy everything without loans and installments. If you have a broken smartphone, and there is no money for a new one, buy a regular push-button phone. It is better to postpone the purchase of a smartphone to the moment when you save for it.
10. Close credit cards.
As a rule, high interest rates are charged on credit cards. If you have a small salary, paying loans can be very difficult. Therefore, if you want to save money, close the credit cards and do not use them anymore.
Try to spend less than you earn. So you can save a lot of money, even if your salary is low.