Saving refers to the action of reserving some part of ordinary expense, in order to obtain something. All at some time we have saved in some way, from piggy and the famous batches, making use of some of the financial instruments offered by banking institutions.
To save, it is necessary to organize our resources and prepare a savings plan that contains 3 fundamental steps:
- ESTABLISH A GOAL
The first thing to know is what do you want to get? What is the best option? How much does it cost? In this sense, we recommend that once you know what you want, check several options and compare prices, quality and benefits, until you find the one that best suits your needs.
For example: If your goal is to buy a car, you should think about what brand you would like, if you want standard or automatic, what color, used or new, etc., to later give you the task of going to car agencies to compare prices.
Once having this clear, you must decide when you want it? To determine a time range is very important, since from there you will be able to define the necessary resources in that period.
- IDENTIFY YOUR PERSONAL SITUATION
You must answer two elementary questions: what are my income? and how much do I spend? For this, we recommend you add your total income and compare them with expenses, making a list of fixed expenses, which refer to those that we can foresee.
These do not necessarily have to be always the same amount (since we do not know how much the receipt of electricity or gas will arrive), however we know that month after month we will have to pay it. For example: rent, internet, cable, telephone, super purchases, etc.
On the other hand, make a list of variable expenses, those that are not indispensable and that change constantly. Such as: meals away from home, going out to the movies with friends, medical consultations, buying shoes or clothes, etc.
- LEARN TO CUT YOUR EXPENSES
Once you have both lists and have compared them with your total income, analyze the expenses that you can do without or those that you could reduce.
There are unforeseen expenses that it is impossible not to cover such as medical consultations and medicines; but for example, if you noticed that you spend a lot of money eating every day at the little restaurant near your work, you could try to bring food from your home.
This setting will allow you to increase the amount available to save. Because remember that “Saving is not an end, but a means to obtain something that you want or need; It can also be the best tool to get out of any unforeseen event that involves a heavy expenditure. “
Also consider the possibility of downloading a personal finance app, this can help you keep track of all the income you have every month and make you aware of what you are spending your money on. Once you have completed these steps, you can decide where you will save the amount of money you have set aside to achieve your goal.