You want it to be quick, easy and as uncomplicated as possible Save money? Then this article will help you.
Saving money makes sense, because if you want to be wealthy it is necessary to handle money properly and to save some of it.
Whether you are an apprentice, student, employee or self-employed. Everyone will be able to find one or the other tip for his situation here.
Why you should save a part of your money
Saving money is a challenge for many, but basically it’s just a matter of finding new ways to save money. Do you really want to increase your money is important, and you should really keep that in mind, that your income is always greater than your expenses!
Why it is so important?
It is so important because no matter how much you save, if your expenses are always greater than your income, you will gradually lose your money. And if necessary. get into a debt trap.
So before you start finding ways to save, which we will come to in a moment, you should be aware of what your income and expenses are. Then you will know how much you need to reduce (save) from your expenses to have more income than expenses. Or how much of your money you have available for saving. For this you can z. B. Analyze a period of 1 month.
Many have the attitude "money alone does not make happy". But nevertheless, how happy it makes to have no money, if actually once which is needed?
Of course, no one has anything to gain if the money is only on the savings book. But the fact that it is there is for an important reason.
This way, the money you save can always serve as a financial reserve. On the other hand, it can be used for a great vacation, a brilliant business idea or investments, which in turn yield returns.*
*(But please keep in mind that at the moment you don’t get much interest on savings, and the money loses value in the long run due to inflation.)
How does that sound to you?
What a pity it would be to have no money left for these things, because everything was invested in consumer goods. All money is gone and never true wealth can be built up. Or you can afford a bigger investment without any problems.
And the path that leads to this does not necessarily have to lead through frustration, renunciation and a worsened standard of living.
So you can spend your earnings that you don’t really need to live on consumer goods like a new, bigger TV that will sooner or later lose more and more of its value. Or save your money and invest it, which will help you in the long run to reach your financial goals.
You can certainly think of several goals and thoughts on how you would use your saved capital.
So that you now but fast and uncomplicated to more saved money, we now come to how you best start to save.
The ultimate quick and easy guide to saving money
Step 1 – Analyze your expenses
Break down your income and expenses into fixed and variable costs. Furthermore, it makes sense to divide the whole thing into different categories. So z. B. the income in net income from dependent or self-employed work. grants or a side job if you have one.
You should do the same with spending.
To save you a lot of work, you can find a very good template for a budget via the following link .
In this video from the YT channel financial flow you can learn more about the template they created.
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Step 2 – Create your own savings plan
Now that you are aware of how much you spend in the various categories, think about where you can save money. You’ll probably quickly find yourself in the cost of living like z. B. find the purchases or other contracts.
(If you can’t think of a possibility at the moment, you will surely find something further down here.)
If your expenses are higher than your income, you should try to minimize your expenses so that you have more income than expenses.
If you can’t save anything else on your expenses you should try to increase your income so much that it exceeds your expenses. This is the only way you can accumulate money in the long run.
Now set a goal how much money you want to save.
At best, define the following for yourself:
1. How does saving money help me in my current situation?
2. Why do I want to save money? What would be the negative, if I would not implement it?
3. Can my environment (people, places, structures, routines…) help / support me to save money?
4. How much do I want to save? And by when I would like to have reached my savings goal?
These points will help you stick to your goal in the long run and achieve it.
Examples of possible answers:
1. How does saving money help me in my current situation?
I need money for my upcoming vacation. Or: I want to save money to have the necessary budget for possible business ideas.
2. Why do I want to save money? What would be the negative, if I would not implement it?
If I would not save enough money I would not have enough capital for my vacation or my business ideas.
3. Can my environment (people, places, structures, routines…) help / support me to save money?
I can save together with others. Stay away from places where I quickly get weak and spend money. Create structures like standing orders and account systems that save money automatically.
4. How much do I want to save? And by when would I like to have reached my savings goal?
Save 5% of my surplus income every month. Or: Save the daily 5€ that I usually spend on XY and don’t spend it on anything else.
Now it’s time for you to make saving money a regular part of your life. Make saving a habit.