Many people find it hard to save money due to the fact that there are lots of expenses and bill that you need to pay. There is also steady increase of commodities and services making our money less in value. It is like a money is draining in our bank account or wallet so easily.
If you are an ordinary employee, you may say your salary is not enough for your expenses so you cannot save because there is no money left for you. I agree that is true, but I believe you can still save as long as you have job. If you do not have job, its obvious you cannot really save since there is no cash coming in. Here are the three easy ways to save money even if you have a low salary.
1. Live below your means
Teaching yourself and your family to live below your means is one good way to save money. You must not spend money above your monthly salary. Make it sure your lifestyle will truly show your current earnings. Do not buy what you can’t afford. You should learn how to control yourself when buying things specially those which are expensive.
2. Pay yourself first
Paying yourself first is just like you pay for your retirement. All of the money we have belongs to us but all of it goes to our expenses and nothing are left to us. By doing this way, you are setting aside at least 10% of your income right after you receive you salary. You can do it automatically by
3. Control your expenses
Another good way to save money is by controlling your spending habits. You should monitor where is your money going by listing all purchases in a spreadsheet and then cut purchases on unnecessary or not important things. You can also set a limit for the maximum amount of expenses each month. With this strategies, you will gradually save money little by little.
The first step to achieve financial freedom is learning how to save regularly and faithfully. In order to save money, you must pay yourself first, live below your means and always control expenses. Saving is the key to have a life free from debt and worries about financial insufficiency.
Gily Tenorio is a personal finance blogger who loves blogging on saving, investing, stocks, mutual funds and make money online. To get more information on how to open a bank account at Philippine National Bank, you may visit Free Financial Management blog for free articles on financial management, saving, investing and online money making.
categories: Credit,Currency Trading,Debt Consolidation,Fundraising,Insurance,Investing,Leasing,Loans,Mortgage,Mutual Funds,Personal Finance,Real Estate,Stock Market,Taxes
Other articles you might like:
- business taxes Helpful Knowledge Base
- Advantages Of Outsourcing Accounting Services
- How Accounting Services Help Your Business
- Some Important Things To Be Produced Before Filing A Tax.
- Choosing Federal Tax Table Is Simple