When it comes to money, there is one subject that can never be ignored: saving! This is an indispensable habit to build a stable, secure, and financially peaceful future. In addition, it is the only worthy way to conquer a house, a car, a trip, open a business, fulfill a dream and move life in general.
Financial experts point out that saving should be a priority even among people who pay their bills on time and have no financial problems. Keeping part of what you earn is crucial to having security in an eventual need and to making dreams come true.
However, although many people recognize the importance of saving money, they find it difficult to save part of their resources. In the following article, we will give you some tips on how to make saving simpler in your routine. Changing some habits and beliefs is the beginning of this new path toward greater financial security.
Six Steps to Successfully Saving
One thing is a fact, most people do not organize themselves financially. These people handle their financial resources with an immediacy bias and thus cannot form a reserve for the future. If you're struggling to save money and realize that it could pose a big problem in your future, you've come to the right place.
Understanding what the first steps are to start this economy is essential to making the most relevant changes. Check out, below, five fundamental factors to be able to save your money earned with so much work and dedication:
Purpose
The first step to successfully saving your money is setting a clear goal. Dedicating efforts to reach any desired state becomes much easier and more motivating when there is a clear perception of the gains obtained with the momentary sacrifice.
So, stop and reflect: for what and for what reason do you choose, want, or need to save money? It is important to write down the answer and review it whenever possible, remembering that there is a greater purpose to be achieved. You can even create visual reminders, like a poster on the wall with a photo of the place you plan to travel to or a Lego house representing your future home.
Understand the current scenario
Analyzing your personal budget, calculating your fixed monthly bills, defining how much you want to save monthly and which expenses – usually superfluous – should be eliminated. This is nothing more than planning, the secret of success. Understanding the logic of your financial life is crucial to being able to save money responsibly.
It is also important to reserve a portion for your leisure and enjoyment. After all, working just to save money and not enjoying it moderately along the way can generate a reverse impact, such as stress, burnout, demonization, a drop in productivity, and consequently a possible dismissal.
Avoid new debts
It's not always easy to keep your bills up to date, so if you want to save money, it's essential to avoid getting into new debt. Credit card purchases and installments should be avoided as much as possible, as they compromise your earnings for more than a month. Also, open accounts generate fees that increase how much you owe and snowball.
Therefore, the priority of someone who wants to save is to pay all the debts they have at the moment and not to make new debts. If you need to buy a new appliance for your home, for example, it is interesting to gather the total money for the item and buy it in cash.
In cases where it is not possible to wait, it is recommended to pay the maximum amount in cash and only pay the rest in installments Avoid purchases in installments and, whenever possible, do not use your credit card.
Focus
The achievement of any and all goals is directly connected with the individual's ability to focus, in addition to self-control and mastery of one's emotions. That's because with so many daily distractions, being focused becomes an overwhelming skill. The focus should be on a continuous exercise and the more it is practiced, the easier, more present, and more natural it becomes.
To stay focused when saving, avoid going to places that bombard you with consumption stimuli (like malls), and prefer outdoor walks.
When browsing the internet, try not to access stores and other sites that may encourage you to spend on what is not a priority at the moment. If possible, remove yourself from email lists of websites and brands, so you avoid being persuaded to make purchases you shouldn't.
Healthy mind, healthy account
Probably the best and most effective way to save money and enjoy it in a healthy way is to take care of your mind. This is because one of the reasons that drive the individual to consume is the sentimental and emotional imbalance. Human beings usually look for a way to fulfill their internal needs in consumption — notice that, when we are well, the desire to buy tends to decrease.
Therefore, always try to maintain a good state of mind and do everything that can contribute to your development: read exercise, relate, eat with quality and take time for yourself. That way, the way you handle money becomes much more positive.
If money is used as a way to feel better about yourself, it's worth seeking help from a mental health professional. This kind of relationship with money demonstrates that there is something wrong in your life. In some cases, people find it difficult to save because they are anxious about not being able to save. The follow-up of a professional is quite interesting.
Diversify
Saving money can have different goals like taking a trip or buying a house. However, in addition to having the resources to make your dreams come true, it is also important to have a reserve for emergencies. The pandemic the new coronavirus, for example, generated a series of changes in people's lives and some had difficulties during this period.
We have no way of knowing when we will need funds, so the ideal is to diversify the ways to save. To make a medium or long-term dream come true, it is possible to choose to invest the money in funds that will take longer to redeem, as it is not something that is needed immediately. However, it is also valid to have a savings account or a CDB, which are easier to redeem in an emergency.
