You too can learn to save money
If saving money is not your strength, then calmly, you can learn everything. You just have to change your habits and you will be successful.
Saving money: financial analysis
If you are having trouble knowing where your money has gone, take a close look at your bills, food, clothing, etc. and financial commitments, e.g. loan repayments.
Note: This is more than 80% of your expenses.
You will gain full control over your finances by recording all your expenses. It is not difficult. Simply collect receipts and add up the amounts once a week.
Saving money: create a home budget
On the Internet you can find ready-made programs for financial management. You can use them or create a revenue and expense ledger yourself.
Draw up a table in the booklet with fields that will take into account your income and expenses. After just one month of keeping such a balance sheet, you will see where your money is being spent.
Savings: up to 20%.
Saving money: save all expenses
You must also remember that the devil is in the detail, and this principle works especially well in home finances.
Note: When saving expenses, you cannot skip even the smallest amounts (e.g. pocket money for a child, coffee in a café, small amounts for ice cream).
Only then will you realize how much you spend every day on such small amounts, which grow up to 15% of your household budget within a month.
This way you will be able to determine the real cost of living for your family.
Saving money: joint family budget planning
It would be good to encourage all household members to manage their family finances. Such older children who get pocket money.
Common organisation of expenses will strengthen the sense of responsibility for the home budget. Knowing the financial possibilities and limitations of the family, it will be easier for everyone to understand the need to tighten their belts in order to save e.g. for a holiday trip.
Encourage your children in particular to plan expenses and save 10% of their income. This will help them to know the value of money and teach them respect for their parents’ work.
Saving money: you also have to postpone something.
Of course, it is not possible to save on fixed fees for rent, utilities, commuting, and so on. However, other expenses should be cut slightly.
Note: Don’t try to save on what’s left over at the end of the month, because there may be nothing left.
Set aside a predetermined amount, even a small one, immediately after the withdrawal, together with the money for fixed expenses.
It is very motivating to set a goal, e.g. buying a new TV set.
What to pay attention to when we still lack money?
10 most important tips for people who still have problems with lack of money.
1. Divide the card into two vertical columns, save the expenses on one column and the income on the other. Divide the card horizontally into weeks and months.
2. Determine and record your fixed expenses that you regularly incur each week (basic food products).
3. Determine your fixed expenses that you incur once a month (monthly ticket, rent, etc.).
4. Plan your extraordinary expenses for the coming year (purchase of equipment, children’s communion, holidays, children’s holidays, etc.).
5. Make a separate list and write down “money thieves”, i.e. expenses that you can resign from (stimulants) or significantly reduce them. Check how much money you can save by looking at the card with annual expenses.
6. It is also worth writing down the values you can contribute to your home budget thanks to your own work (make a child’s cap on the wires instead of buying it in the shop, make preserves yourself, paint the apartment instead of calling on professionals, prepare sandwiches for work instead of using the buffet, etc.).
7. Check where, when and for how much you can earn to your home budget (you can do this by collecting mushrooms, taking up seasonal work, etc.).
8. Set yourself a financial goal. First of all, set yourself a so-called “safety cushion”, i.e. small savings, thanks to which in an emergency, e.g. you will buy a prescription or pay a fine.
9. Set your second household budget on the basis of the first one, which is described in points 1 to 4, but include the possible and realistic savings and revenues that arise from points 5 to 8.
10. It is worth letting yourself be pampered from time to time. Write down an extra expense in your budget once a quarter, which will make the whole family happy (going out to the cinema, a trip together, etc.).