Learn how to handle money efficiently and start saving

You will feel your empty account the most when you need money for something unexpected, such as a broken washing machine or fridge, paying for the funeral of a loved one, etc. For some people, saving money is literally like science fiction. The basis of saving money is to set small, even bigger, goals.

Write down your expenses

First of all, you need to know exactly how much and what you will spend. Write down all your expenses, including ice cream for a walk or coffee with a friend in the cafe.
Once you have everything written down, arrange the amounts by categories such as gas, food and mortgage, and find out the total amount. Use your credit cards and bank statements to make sure you’re accurate – and don’t forget any.

Add the amount you manage to save to the list

Once you’re clear on how much you spend each month, use the data to create a working budget.
Your budget should be guided by measuring your expenses based on your income – so you can plan your regular expenses and reduce excessive ones. Remember costs that occur regularly but not every month, such as car maintenance.

Take advantage of ways to reduce costs

If you find that your expenses are so high that nothing can be saved, this is the right time to reduce them. Identify irrelevant elements that you can spend less on, such as entertainment and food from a restaurant. Look for ways to save on fixed monthly expenses, such as electricity and water.
Tips to reduce your spending:
Use resources, such as comparison servers, to find free or cheap promotions to reduce your entertainment costs.
Cancel subscriptions and memberships you don’t use – especially if they renew automatically.
Try places that fall into the “cheap food” category.
Treat yourself to a “reward period”: If you are tempted to make a purchase that is not necessary, wait a few days. Congratulations on how you successfully managed it.