I’ve been a little obsessed with saving lately.
This is because I don’t have much money to spare, having just bought a house.
So I’m looking for any good excuse to set aside some money, to make income, and to generate passive income.
I am succeeding and to do it I use foolproof methods! (at least for me)
In this article
- # 1 – Know the value of one euro saved
- First of all, I have printed and kept the savings table in my wallet.
- # 2 – Save the pennies
- # 3 – Automatically save
- # 4 – Save extra income
- # 5 – Set yourself exciting challenges
- # 6 – Save money with a goal
# 1 – Know the value of one euro saved
First of all, I have printed and kept the savings table in my wallet.
Thanks to this tool, I know how much each saved euro is worth and how long it will take me to reach a certain asset.
# 2 – Save the pennies
Yes, small euros have their value 20 euros are equivalent to only 10 2-euro coins.
Every day you have many ways to save even just 1 or 2 euros.
But how can you make this savings action more effective?
The answer is simple and a little old: you need to visualize how much you have achieved with your savings.
If one day you decide to give up a coffee, a juice, a mobile phone card recharge, take the equivalent in coins and put it in a nice piggy bank!
# 3 – Automatically save
One of the most effective strategies to save is to do it automatically, that is to transfer a part of the money as soon as it is collected and to forget about its existence, perhaps by binding it.
American personal finance bloggers say to pay yourself first, that is, pay a salary at the beginning of the month and transfer the rest to an account in which to accumulate your savings.
I have always done this and at the beginning of the month, I take part of my salary and feed my deposit accounts. This money goes out of my monthly budget and it’s like it’s gone.
# 4 – Save extra income
Today it is not difficult, indeed I would say that it is essential, to create extra income or have extraordinary income.
Bonus, 13th and 14th, tips, online earnings can be saved, even in full if needed.
# 5 – Set yourself exciting challenges
Everything can be adapted to a game.
That’s why saving is also a good game, or a good sport if you want. You always have to raise the bar, otherwise, what’s the taste?
In the last post I told you about this and how, starting from scratch, you can save 25% of your salary in just 24 months.
# 6 – Save money with a goal
If when you save even a single euro you associate this gesture with a goal that you want to achieve, your action will be very simplified.
It can be a trip, early retirement, a new pair of shoes, it doesn’t matter, but learn to think about what you want to achieve in life and enjoy the wait.
And what are you waiting for to start saving now? What are your foolproof ways to save? Tell me. I care about it!