Experts suggest you divide your budget the following:
- 50% off basic expenses (housing, food, transport, and services, etc.
- 30% off personal expenses (hobbies, recreation, clothing and beauty, etc.
- 20% to save for travel, purchasing a house or, in the case of an unplanned event, retirement.
There are many things to take into consideration, both in theory and in practice. This balance may seem difficult when you consider your salary isn’t paid and the fact that you arrive to work each month with an adjusted paycheck.
These tricks can help you save money quickly.
These 30 tips will help you save money.
- You can make your own meals. Making your own meals can help you save money, no matter if you cook at home or take to work.Fresh ingredients can be cheaper than buying from the street for your lunch.
- Reduce your consumption of services. Your budget will have less impact if you consume fewer services. Here are some ideas and suggestions:
- Make sure your home is free from water and gas leaks. They can increase your monthly cost and pose a risk to you monthly bill.
- Connecting to Wi-Fi wherever you are, at work or home, can help save your mobile data.
- You should use your heating and air conditioner sparingly.
- Turn off your electrical appliances when you’re not using them.
- Don’t waste water. Take a quick bath. When you’re done, close the tap.
- You can sell items that you don’t need: Clean out your house and find any clothes or appliances you no longer use. These items can be sold online to make extra income or save money.
4.You can reduce unnecessary expenses by creating a budget. This is a great way of tracking expenses and identifying areas where you can cut. Reduce the amount of subscriptions, snacks and desserts that you don’t need.
5. Compare prices don’t accept the first deal. Comparing prices at different supermarkets and stores will help you identify savings opportunities.
You can compare prices online to find the lowest price on a product. Comparando.com and locomparas.com are two examples.
6. Make a shopping list before you go to the supermarket. Keep it up. This will ensure that you don’t go over budget or purchase too many items. Fresh fruits and vegetables are her preference, as they are usually cheaper.
7. Buy out-of-season clothing: When clothes are “not current news,” stores will often hold auctions. Profit from the savings and make it work for you.
8. Second-hand clothes can be found at fairs and markets. This will allow you to save money. You can support local artisans by bringing your items in, even if they are at a lower cost.
9. Avoid using your credit cards. High interest rates can cause higher debts and raise costs. If there aren’t other options, it is best not to use it.
- Avoid impulse shopping unless you have a plan.
- You should not use them unless absolutely necessary.
- If you have paid any fees or interest, you must promptly pay them.
10. Be careful: Before you purchase anything, even if you don’t need it, consider whether you really need it. Is it within your budget? Is it a debt?
11. A portfolio buy is an option for people with multiple debts. You can get out of debt faster and organize yourself better by only paying one instalment. You can save more quickly by paying a smaller amount.
12. Check the terms and conditions of your bank.
It is important to find out about their offerings so that you can compare them with other institutions. Maybe a switch is right for you.
13. Buy local. It can save you a lot of money. Find the closest one to you and see what they have to say.
14. Programed savings: This involves saving a fixed amount each month for a time period that you have agreed with the bank. The entire amount will be saved by the bank at the end.
15. Spend less than you have. Budget management is possible only if you are careful. You should only apply for loans or use credit cards if you have to make major expenses like buying a house or investing in your business.
16. Set financial goals. You will not only be naming your goals, but you will also be setting terms and monthly instalments. This will allow you to save money on your journey.
17. You can also walk or ride a bicycle to reach your destination. It’s also possible to exercise and save money.
18.Find out how to invest. Learn where you can save money on Colombian investments. There are also CDTs, investment funds, and bonds.
19. You can get new entertainment plans free of charge: Every city has its own entertainment program. Enjoy a picnic in the park, check out the museum admissions free days or discover what music events are free (or cheap) in your local area.
20. Do not associate your credit cards with any other applications. Credit card information can be stored in multiple applications such as mobile payments and home purchases. Stop doing it!
- Don’t fall for the temptation to buy and incur unnecessary costs.
21. If you have to withdraw cash, only take what you need from an ATM. It’s easier to pay “ant expenses” if you have enough cash.
22. Share your account with friends. Not everyone will buy the same thing, and sometimes the consumption of others is much greater than ours. If the account is divided equally, you could end up spending more money than you intended.
23. Save as a family activity. Invite your family to participate. This will motivate everyone and encourage them to work together. Set family goals about what you want to do with the money that you have saved.
24. Coupons: Many chain stores offer discounts or special promotions to customers. These coupons can be used! There are also pages that offer coupons with discounts (Groupon.com.co., ganacupon.com.co., couponatic.com.co., cuponomia.com.co.co).
25. Subscriber clubs and benefit programs: Some brands offer benefits to customers for joining their “exclusive club” such as discounts, prizes, and gifts. Some offer no cost.
26. Stop smoking. Smoking is not only bad for your health, but it can also be a drain on your pocketbook. It is also important to stop smoking, gambling, compulsive purchasing, and drinking coffee. If you are able to get rid of them, you will reap the many benefits.
27.To enjoy a vacation at home, you don’t need to travel to exotic places. By taking your children to historical sites and visiting local parks, you can learn more about your area. You will be surprised at the things you discover. You can also save money and still have fun.
28. You can save money by buying bulk. because Buy by the dozen, by many kilograms or by many gallons to get lower prices. Take the test and do the math.
29. There are many ways to reduce the number of services that you have to hire. For example, cleaning up after yourself. These activities are possible without additional costs.
30.You won’t see any results in a day. Take your time. Focus on your savings plan, your goal of achieving your goals. You won’t lose your motivation by doing this. And to know more about it click here