You have probably already heard that you need to save 10% of your income. This is the golden rule of financial literacy. Everyone knows about this, and you too, but no one follows this, and you too.
It would seem that this is simply to save 10% every month and form your own capital, which you can then invest or use to achieve your great goals. These 10% in the future will provide you with the very levels of financial protection, financial freedom and financial security that everyone needs so much. Let’s figure out once and for all what needs to be done in order to make this rule work and finally understand how to learn how to save money.
1. Save 10% immediately
Most people try to put off what is left after spending. This is fundamentally wrong. They are waiting for them to have some hypothetical amount that could be deferred. But unfortunately, the moment of truth does not come, because expenses always strive to exceed revenues. This is the law.
Therefore, in order for the 10% rule to work, you need to pay yourself before you start spending. Think about what you do first when you receive money on a card? Pay on loans or a mortgage, pay utility bills, pay for children’s kindergarten, courses, fitness, buy products in a store, shop, buy something on the Internet, refuel a car … you can list indefinitely. As a result, your money diverges, and you again did not postpone anything, because you waited and thought that you would have something left.
2. Use the remaining 90% in the same way as 100%
Imagine that the moment of truth has come and you plucked 10% of your income and set them aside. What do you feel? A skin cooling question that you don’t have enough money now? You say: “Well, now I have 10% less and I can not live on the remaining 90%. How to pay a loan? How to buy the shoes that I wanted? Maybe I also can’t eat in a cafe now? Or take the child out of the garden, eh? ”
Do not worry, do everything the same as you did with your 100%, but now make sure to keep within 90% of the money. Turn on your imagination again and imagine that if you would suddenly not receive 100%, but 90% of your salary? Could this happen? We think that – yes, because there are a lot of reasons for this force majeure. Would you manage your expenses then, could you meet 90% of the amount? – could surely.
3. Never touch the deferred 10%
You set aside 10% and now you can live on the remaining 90%, after which give yourself the idea that these 10% are not your money and should not be touched. Imagine that they really missed you at work (pah, pah, pah). This is the whole focus of accumulation.
10% is the money that exists for you in the future; it does not exist at the moment. Thus, this rule can be strongly implemented in your life..
4. Set aside 5% or 1% if you cannot put aside 10%
How to learn how to save money when it is very small? Indeed, there is a reason why it is really critical for a person to postpone 10%. For example, you get 20-30 thousand rubles. per month. The sum of two or three thousand is palpable for you. And immediately picking them out of your budget will be painful. In this case, start not with 10%, but with 5%, or generally 1%.
1% – this is 200-300 rubles from your income, it will be invisible to you and your wallet. Absolutely. You say that it makes no sense to put aside 200 rubles, but only to not put aside 200 rubles makes even less sense.
Imagine that you put aside 200 rubles all your life. Would you give up such an inheritance now? We think not.
Make yourself save 1% and thereby you will grab the right money management and in the future will be able to save more.
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