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The infllamble trick to save money fast
Posted: Oct 02, 2021
Spaniards don't save much. It is evident that more than half of don't even manage to collect 50 euro at the end each month, and those who do usually earn less than 200 euros.
It is not that they don't want to save but rather that they do not know how to save efficiently and effectively. Many people will have read many articles on saving money and still cannot stop spending. They don't focus their efforts correctly and save at the end of each month.Check out there how you can start saving money each month.
People believe they are saving money by buying bargains, but they aren't. They just spend more. Money that has been stopped from spending because of a discount or 3x2 deal is not savings until it reaches savings checking account. You will have better money management if it doesn't come.
Pre-saving is the key to saving every month. Here's how to find out why saving at the end doesn't work. It's easy than you might think, and it will only take five minutes. This is what you should do.
- If you don't already have one, open a second checking account with your bank.
- You can either log in to your bank's online banking system or visit your local branch to request an automatic transfer. This will be done the same day that you normally collect your paycheck. You can start as little as 5% of your income
Only then will you have done the hardest thing. Start saving now and continue it each month. This is what we refer to as pre-saving and it works for three main reasons.
- It's easy to apply. It doesn't take more than ten minutes to do.
- This does not require constant effort An automatic transfer can't take your willpower, it is possible for you to lose it. Pre-saving means you won't have to worry about saving month after month. You can start saving as soon as the order is given to the bank. It will cost you the same amount as it was difficult to get started up until now to cancel that order.
- Unseeing eyes... Money is a problem. If it is not at your disposal, you will spend it. You can save money by moving it to another account. However, it will be more expensive to use and you will likely not see it again in two months.
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WHAT SHOULD YOU DO NOW?
- To save more every month, you can take advantage of Luis Pita 's coaching. Luis Pita is the author of "Have an even worse car than your neighbour". It has been completed by more than 25.000 students in 2018, and won the award for best personal finance or savings course. It shows you how to effortlessly save 20% each month of your salary
- We recommend this course for those who already have 30,000 euro in savings and that you want to earn a high return.
There you can find out the amazing tips how you can save money from your salary