Saving is a habit That is formed, and it is a rare habit to find, since most people find themselves in debt or with expenses that exceed their income. Due to this it may seem that saving is an impossible task if we want to start cultivating the habit, however, it is possible that we use some tricks to save, in such a way that it is not something tedious or impossible to achieve, and is that once we make use of these tricks, it will be much easier start cultivating the habit of saving, and this in turn will allow us to have much better results. But let's start by talking about what these tricks to save are.
Tips to save
The first is to make a sequenced saving. One of the main reasons why it is difficult to save is that at first it may seem that our effort amounts to a few euros, so we tend to spend our little savings. Now, the sequenced saving implies that every certain period of time, weeks or months, we deposit in a piggy bank or in a bank account an amount of money determined by the following method.
First Turk to save
Depending on the term, in this case we will put a weekly example, we will determine a first amount to save, for example 10 euros. In this way, the first week we will have to deposit these 10 euros, for the second week we will have to deposit the 10 euros plus another 10 euros, that is, a total of 20 euros. From the third week there are two possible ways to follow, the first is that for each week that passes we add the same 10 euros; The second possibility is that we carry out a sequential summation, that is to say that in the third week we will have to save 30 euros (10 + 20 of the first and second week respectively).
Like this trick will have a limit, Well, a week will come in which the amount that we would have to save exceeds our possibilities (for example, in week 10 we would have to save 110 euros, or 550 depending on our sum from week 3), it is most advisable that we Let's propose a goal of saving in time, that is to say that our saving periods are of 5 or perhaps 6 weeks, and then we start the cycle again.
By putting this trick into practice it is possible that in a very short time we will raise a greater amount of money, in addition to helping us to form a I live long term to save our money.
Second trick to save
The second trick that is very useful to save is to determine a specific amount of our monthly income for savings. Taking an example, we will determine that 15% of our monthly or biweekly salary will be allocated to our savings, so that when we receive our income that 15% will go directly to our savings fund. This trick to save is quite simple and helps us to make saving a habit, the disadvantage of this saving method is that we may despair because we do not collect so much money, because we will have to wait two weeks or a month to be able to see our reflected next effort, while the sequenced saving it can be, if we so determine, for days.
One of the main challenges What we will face is the impulse to spend that money on something we want, especially it will be something that will happen to us in the first few occasions, in which we have not yet formed the habit. However, the advantage of this method is that as time passes we can have the habit well formed and we can also increase the amount allocated to savings in a way, for example, annually or monthly, making our savings increase more quickly.
Third trick to save
A third trick that we can use in order to save is to get a piggy bank, whether we buy it or improvise it at home with a bottle, the objective will be that day by day we introduce our saving purpose into the container. This saving purpose may be that all the 5 euro coins that pass through our hands should not be spent on anything, but we will wait until the end of the day to put them in the piggy bank; Another possible purpose is to introduce a specific bill, or perhaps all the coins that we get every day. This method is quite entertaining because unlike the two previous tricks, in our piggy bank we will not know how much money is saved, since the amounts that are entered will vary from day to day.
Another advantage of this saving method is that we will make a habit of depositing money in a savings "account". So in the future it will be much easier to be able to make stronger savings in quantity and in a more constant way.
Other tips to save
There are two ways to do this trick to save, the first is to determine a day on which we will open our piggy bank; Another option is that we decide to open said piggy bank only when it is completely full. Both ways will allow us to save for a particular objective and to forge the habit of saving.
Fourth trick to save
The fourth trick we can do to save It is one of the most effective, but also one that requires more willpower and discipline, in addition to some financial knowledge. And it is that in order to avoid that we spend the money, or that we simply have it standing in a piggy bank or bank account; we can deposit our savings in an investment account. However, it is not essential that we have in-depth knowledge of investment instruments, just as it is not essential that we have investment skills.
But if it is important that, for example, we consult with our bank, on what are the options that it can offer us so that our money is generating profits.
Depending on 3 fundamental aspects, the bank will be able to offer us the best option to carry out our investments.
The first of 3 aspects is the investment style, since there are some accounts that allow the user to select their investments, while in some other options that are offered there is a person who is in charge of making the investments, as well as when the time comes to collect the fruit of the investment, Whoever manages our money will retain part of the profits as a commission for their account management.
The second aspect is the term to which we want to invest; As a general rule, the longer the term that we invest our money, the greater the profit that we will receive due to said investment. In this way we can select investments of a few days, several weeks, months or even years. This aspect also includes the fact of whether we want the earnings to be reflected periodically, for example, monthly, or if, on the other hand, we prefer that the earnings be reflected at the end of the investment period.
The last aspect that will be considered so that we can be offered an investment option is how much risk we can and want to assume; As is known, the greater the risk that we lose our money or that our capital decreases, the greater the possible profit that will be reflected; it is our decision how much we want to risk our capital.
Another trick that we can use in order to save is to determine a certain amount of money per month to buy some objects that do not lose their value, such as jewelry; This advice is quite practical for those who find it difficult to save money in cash. One of the main advantages of this trick is that we can be saving as long as we are interested in being able to acquire something of our interest.
The disadvantage The most important thing to mention in this saving method is that there is always the possibility that when wanting to convert the jewels into money in order to be able to make ourselves of something that we want, it is very difficult to be able to sell all the jewels in order to count on the cash.
Despite this disadvantage, this saving method It is quite useful, because in the case of precious metals, they do not lose their value, but, on the contrary, as time passes it is very likely that their value will increase, making us not only save, but even invest in said materials for some future benefit.
Conclusion
Saving is very important because it will allow us to achieve higher goals such as acquiring real estate. On the other hand, it is a habit that can be developed regardless of whether we do not have it now.
Putting any of these tricks into practice guarantees us the success of our goal of saving, although it is imperative to mention that everything will depend on our discipline and our willpower, but the reward will be worth it because over time it will be time to make a habit of it. save and greatly benefit our personal finances.