Saving money is a real and chronic dilemma for many people, but this task is not impossible if you find a method that suits your circumstances and your personality.
Andrea Nunez, in a report published by the Spanish magazine Tick Pete, presented five of the most popular and effective methods when it comes to leaving part of the monthly financial income and improving the way of financial management.
The writer says that modern technologies have become used in all areas of life, and that they can also be used to address the problem of saving money.
The goal behind saving may be to ensure a good standard of living when referring to retirement, or to save the costs of making a dream trip, investing in a business, or anticipating expenditures and contingencies.
The Japanese method "Kakebo"
This traditional method - which appeared in Japan, also known as the "book of home accounts" - has made a revolution in the field of financial savings, and many writers have talked about it in western countries, and advised by economists.
It consists in keeping books to record all expenses and incomes, which enables you to think about your habits, learn how to save and improve your skills in financial management.
At the beginning of the month, you write a certain amount of income and expenses, how much you want to save from it and the various expenses that you may face in this month, then you start recording every amount you spend, and then you look at your financial budget.
The Japanese consider that Kakebo method not only enables them to save money, but also gives them psychological calm.
Piggy bank leftover
This method is old, and it requires buying a piggy bank of solid and large size, after which you start throwing coins and small amounts that the seller or the rest of your pocket returns to you when you go out shopping, and do not allow yourself to open or break the piggy bank unless it is completely filled.
You can use several methods of saving, by placing only coins or by placing 10% of the coins inside the piggy bank, and you will be surprised by the amount you collected when your bag is full and you bring a hammer to break it.
Challenge 52 weeks
This method is very prevalent in Anglo-Saxon countries, and it consists in saving the amounts of money with an upward trend in each week, since if you save in the first week only one dollar, then in the second week you save two dollars, then three, and so on.
In this way, the amount you save will escalate every week, as it will exceed two hundred dollars in the last month of the year, and this method can also be done but in reverse, by starting with large amounts and ending with one dollar, and this method may enable you to simply save an amount 1378 dollars a year.
The Harv Ecker method
In his book entitled "Secrets of a Millionaire Mind," Canadian writer Harv Ecker proposes a simple system for distributing monthly earnings based on percentages. This division must be done every month as follows:
55% for basic needs and essential amenities, such as rent, bills, bank installments, and food.
10% of savings, which cannot be compromised, and will enable you to collect money over time.
10% for sports and personal development, by buying sports equipment, attending courses and events, and buying books.
10% for long term investments, which are the huge expenses you may face in the future, such as obtaining a driver’s license, going on a family trip, or renewing home furniture.
10% for entertainment and 5% for donations.
The method of circumstance
This method aims to improve your ability to act in the home economy, which is old and used for many decades, and requires you to collect all the funds in one place and calculate your expenses throughout the month, after that you must decide how you will divide the money and put each amount in an envelope and write On him his destination.
After the money is organized and divided in this way, you will know what amount remains in your balance to cover the basic expenses and how much you have to entertain and the secondary things.