You spend your salary before you even receive it. You want to learn how to save and accumulate money, to get out of debt. There's no magic financial wand, but a few simple tips will help you take control of your budget and save money for anything you want. Here are a few reasons why saving is important and why it serves as a safety cushion. Saving more money means gaining an additional degree of freedom and improving your living conditions.

Savings represent the future of your children, money set aside for vacations and luxury items. If you're unable to save money and it slips through your fingers, you need to know that you won't save a penny until you understand exactly where your income is going. Saving isn't as fun as spending, but nothing is impossible. The golden rules of a family budget, formulated by financial experts, will help you understand how to start saving money and stay on the right track.

Now let's look at the secrets and methods of setting money aside in any situation. Secret number one is expense tracking. How can you decide where to save and set aside money if you have no idea about your expenses? Download an Excel spreadsheet, customize it to your needs, and start recording your expenses without delay. Keep a notebook or install financial tracking apps if you don't like electronic spreadsheets. Once you have a clear picture of your expenses in a typical month, you can identify problem areas, determine how much to save, and reduce discretionary and impulsive purchases. This will become evident within a few weeks. At first glance, it may seem silly to write down all your expenses since you already know everything. But when you have your financial statistics in front of you, not just for a day or two, but for a month, you may be surprised by the amounts spent on specific things.

This will help identify where you spend more and where you can save. After all, in the context of a single day, these may be trivialities, but in the context of a month, they could be an alternative to a new refrigerator. This is one of the secrets that shocked me when I started recording every expense. Has this ever happened to you? Leave comments under the video. And if you haven't started using this secret yet, start doing it immediately. Develop a plan. Clearly define your goals and set realistic deadlines for achieving each item. Simply saving money for a "rainy day" is a psychologically losing strategy. People need a push, a threat to their well-being, or motivation. Saving becomes easier when there's an anticipated and coveted dream ahead, like an apartment, a car, or something less monumental but equally important to you. Goals can vary from a long-desired purchase of a new TV to a trip to a country you've always wanted to visit.

It would be great if your goal could genuinely inspire you. Your goal should be as specific as possible, such as a particular model for the TV or a trip of a certain duration to a specific country, with a rough list of planned places to visit. Set both long-term and short-term goals, calculate how much money needs to be saved each month, and stick to the plan. Trust the experience of successful businessman Stephen Covey: "Goals are pure fantasy" if you don't have a specific plan to achieve them. Distinguish between needs and wants. It's easier said than done, but make it a rule to pause before making a purchase. Before grabbing another pair of shoes or an exceptionally wonderful fishing rod, sleep on it for a few days. Besides, research shows that the pleasure of anticipating a purchase is much greater than the pleasure after the acquisition itself. Treat yourself occasionally. The difference between thriftiness and miserliness is about the same as between starvation and healthy eating. Secret number two: Pay yourself first. You have probably heard this phrase many times. Do you know why I often repeat this principle? Because it works.

Paying yourself means setting aside a certain portion of your earnings into a deposit account, a separate account, or simply putting money aside in an envelope. However, saving what's left of your salary at the end of the month after all expenses is a huge mistake made by the overwhelming majority. You should think of savings the same way you think of any other bills. When you receive a bill for electricity, cable TV, or phone service, what do you do? That's how you should approach your savings account. If your goal is to save, let's say, $1,000 per month, prioritize that payment first. Secret number three: Spend less than you earn. No, it doesn't mean you have to give up all the luxuries. Don't worry, I'm only talking about reasonable economy and future planning. Think about it, if you earn $5,000 per month and spend $6,000, your budget balance will be -$1,000.

Most likely, you used a credit card, and you'll have to repay the debt with interest. So in the future, you'll have to cut expenses not by $1,000, but by a more significant amount. A zero balance is already better. You know how to plan, but you don't know how to save money. In this case, you risk being unprepared for unforeseen expenses that life regularly throws at you. Let's face the truth. Even if you increase your income, your financial situation won't change; you'll simply allow yourself to spend more. The only way out is to learn how to control expenses and save money. How can you do it better? The answer is straightforward: do it immediately after receiving the money. This is the fundamental rule of personal finance management. By setting aside money right away, you remove it from your family budget and automatically adjust yourself to the necessary financial framework. Otherwise, you'll face a typical situation where at the beginning of the month, you seem to have plenty of money, and it seems harmless to treat yourself a little.

By the end of the month, your wallet is empty, and you're only spending on essentials. Unexpectedly, it turns out that you can't save anything that month. Therefore, the right decision is to set a specific day (usually a date) when you receive your salary and regularly deposit savings on that date--deposit the money into your account and forget about it. It's the best way to save money.

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