Many times tried to save money, but the attempts were not crowned with success? Most likely, you are doing something wrong and you need to eradicate mistakes.
Who did not try to save money to buy something valuable and important for themselves? That's only some of them get it done, but others do not. Everyone, above all, can learn how to eradicate existing mistakes identified by financial planners.
1. Use the storage card.
If you open a wallet for almost any person, there will certainly be several payment cards. Many people have a separate card, which is used to save money, but this is a big risk. Financiers explain this by the fact that how easily money gets on the card, then they can just as easily disappear, because they are always within the limits of accessibility. It is best to open a deposit in the bank for six months or a year and put the money there.
2. Keep money under the mattress.
Polls showed that many people do not trust banks, especially in times of crisis, but this does not mean that you need to keep your savings under the mattress, since there is a risk that money will simply depreciate. Specialists recommend to install automatic deduction of funds to a savings account, where a certain percentage of enrollments will fall. Putting already available savings on deposit is recommended in different currencies and in different banks.
3. When I can, then postpone.
Another wrong strategy for many people is to postpone if possible, for example, when they receive a large sum of money. To quickly accumulate the necessary amount, it is recommended to make a monthly payment schedule, as if you repay the loan. If in any month there is an opportunity to postpone more, then do it, but do not change your plan.
4. Keep funds in one account.
A common mistake is to store all available savings in one bank. This is explained by the fact that if you suddenly need money, you will have to lose good interest, and not all institutions are stable, and at any time the bank can be revoked a license. The correct solution is to keep deposits in different accounts.
5. The remains are left in the piggy bank.
What most people do when they receive wages - pay bills, make necessary purchases and only then save money, and usually pennies remain. In fact, often because of inattention, money is spent, which is intended for savings. Experts recommend doing the opposite, that is, first put money on a savings account. It is convenient to set the function of automatic transfer of money from a bank card to a savings deposit at the beginning of the month or from each cash receipt.
6. An uncontrolled budget.
If the goal is to save money, then you need to start monitoring your spending and manage your family budget. Thanks to this you can understand where the money goes, where money was spent thoughtlessly and what can be saved. As a result, it will be possible to plan for the future and postpone the necessary amount of funds.
7. To postpone, all that is possible.
Many people, trying to save money, deny themselves in many ways, deprived of pleasure. As a result, mental health suffers and a person ceases to feel happy and even the realization of a long-awaited dream will not bring any pleasure, so remember that everything should be in moderation.
8. Go to the store without a list.
Think about how often you go to the store and do not remember why you came, but in the end you go home with large packages of unnecessary purchases. That is why it is recommended to compile lists of necessary goods. So you can kill two birds with one stone: buy everything you need, and also avoid unnecessary waste. Are you afraid of losing a sheet of paper? Then make a list in a special program in your phone.