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 #06 Dedicate 30% of income for personal expenses
Plenty of people suggest using no more than 30 percent of monthly earnings for personal expenses, i.e., travel, dinners out, birthday gifts or subscriptions to gyms, newspapers and more.
Good financial advice #05 Devote 20% of income in savings
A good way to save is to follow the 50-30-20 rule that suggests using 50 percent of income for necessary expenses, 30 percent for personal expenses, and 20 percent for savings.
Good financial advice #04 Spend one minute of money a day
To be always sure of one’s financial and, therefore, economic situation, one only needs to devote 60 seconds each day to money management. How? Checking on investment trends, news, and important news.
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