“Currency saved, currency won”. It is one of the many pieces of advice that our proverb tells about the not always easy task of saving and that in these times we should have even more present. In this article we expose you some keys on ways to save and methods on spending control , with a clear purpose: make better use of your income and increase your purchasing power in the medium and long term.
Set yourself savings goals
Let’s start at the beginning: to save, you have to set saving goals. And for those objectives to be real and achievable , we must be very clear about our income . Given the variety of current contracts, this point is not always clear: part-time, part-time, self-employed, prorated payroll, etc. contracts. Therefore, the most appropriate is to calculate what is the actual figure you receive per month and, on the other hand, what are your fixed expenses each month (rent, mortgage, receipts, etc.). Subtract the fixed expenses from the monthly income and it will give you a figure: your current money , which you can really use every month. And depending on that number, you should mark the saving objective.
Each person and each family can set specific goals. In fact, there are people who devote to saving is what they perceive in the return of the Income Tax Return, so their figure is not fixed but variable. In any case, it will help to know the savings rate of Spanish households : the percentage usually ranges between 9% and 10% of disposable income , according to the National Institute of Statistics. Therefore, if your annual income is € 20,000 net, an interesting amount of savings could be € 1,800 or € 2,000 per year, or what is the same, around € 150 per month.
Establish an expense control method
“Saving is not just saving but knowing how to spend”. Undoubtedly, another interesting tip of the Spanish saying, which in this case makes mention of another key aspect in saving: spending control . Again, each person is a world and can choose their own method, although most of them will require constant work of recording expenses and disposable income .
One of the most successful methods in the Anglo-Saxon world is envelope budgeting or envelope budget . In fact, it is a traditional method that many people carry out at home without realizing it: distribute the money in different envelopes, each for a different use: rent, leisure, transport, clothes, etc. In this way, you ensure that no concept steals the budget from others. It can be done physically, that is, with real envelopes and bills, but also virtually: there are several applications for mobile, such as Simplebudget, which allows you to write, add, subtract or transfer money from one envelope to another on your smartphone . With this, you will really know how your envelopes evolve and what is the real situation of your current account.
Another traditional and effective method, in this case of Japanese origin, is the Kakebo . This method is in practice a book of accounts in which the user must write down their expenses in each box, so that the accumulated disbursement is calculated by day, week and month. This will shed light on the real destiny of our money, promoting awareness and responsible consumption. It also allows you to mark savings forecasts and other spending commitments.
Some ways to save
Any way to save is valid as long as it is effective. And for this, the indispensable premise on the part of the user is honesty with himself and perseverance . The most classic method is undoubtedly the piggy bank , which can be filled with periodic contributions or with the daily change that can be dispensed with in daily expenses.
Another current resource is that of banking products . For example, savings accounts , with periodic or punctual contributions, that will allow you to have the money controlled and safe at all times, in addition to receiving a small return on the deposit. Pension plans are another example, which give greater profitability, but with greater risk and with almost zero availability until retirement.
Finally, one of the keys to any of these ways of saving is respect for saving . That is to say, the commitment with oneself that this quantity that grows little by little can not be touched, except as a cause of force majeure. In this sense, online microcredits are an aid and a method of protection against the temptation to take advantage of savings when you do not have to: in the face of small extra or unexpected expenses, Credit Positive provides you with a fast online credit of € 50. € 750 immediately and without long-term ties: you request it, spend it and return it, and meanwhile your savings will remain intact.