A good practice is to keep savings aside .
This will make it easier to “forget” about that amount of money and avoid spending it on something that may prove futile or useless in the future.
To save money quickly, therefore, you need to separate the money intended for your current expenses from the money you want to set aside. This can be done by having a dedicated savings account. This way you can minimize the risk of drawing on your savings funds for everyday expenses. On the contrary, it is extra motivation to stay on track with your daily budget while keeping your savings away from temptation!
Learn about other financial best practices
Good financial advice #16 | Balance your portfolio every year
If you set up your financial plan with the idea that savings should be used only in emergencies, you will certainly avoid finding yourself without a savings fund to draw on.
Good financial advice #15 | Use savings only for emergencies
If you set up your financial plan with the idea that savings should be used only in emergencies, you will certainly avoid finding yourself without a savings fund to draw on.
Good financial advice #13 | Make savings part of monthly budget
Savings are part of the monthly budget, so you can easily manage income and expenses and in case choose to change the budget for a month if there are pressing needs to be met.
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