We are overwhelmed by the feeling of seeing our bank account decrease and our money disappears. Life is expensive and it seems difficult to save, but there are tricks to make your piggy bank always full. You will not increase your profits by magic but you will manage to keep them. These five strategies will help you not to lose money.
1. Save part of your income
Try each month to set aside a percentage of the salary you receive. Take it as an obligation and do it continuously. You will save money without realizing it and it will not involve any effort. Always do it at the beginning of the month so that you adjust to the real budget you are going to have. It will end up becoming a routine from which, in the long run, you will benefit.
2. Open an account for your savings
You can also create a new account where you enter a monthly amount of money. Plan your expenses and enter a portion of your money into an exclusive account dedicated to your savings. However small the amount you enter, over the years, it will be a good mattress that you will have at any time.
3. Go to the bank that has less interest
Study the advantages offered by each branch and take advantage of those that have better benefits. You will avoid losing money if you know how to choose the option that best suits your money. You must have a record of all contracts, payments and movements you make. Remember that it is advisable to deposit money in trusted entities.
4. Watch your credit card
You will think that paying with the card, your balance does not decrease but it is not. Do not fool yourself and try to keep track of the payments you make with it. It is preferable to have cash so that you have clear accounts and act responsibly.
5. Do not ask for loans without assessing the consequences.
If you need a loan to buy a house or a car, consider what interest you are going to do so you don’t lose too much money. Ask for it whenever you need it but study well what is the amount you will have to pay after a while.
6. Learn to invest
Your money will always be well saved if you invest it. Its value will increase over the years. It is a way to monetize the capital you have and not lose it. Investing is especially important for long-term goals. Of course, always with responsibility.
7. Compare the options you have
What is at stake is your money for that, you have to take into account each movement to find the maximum benefit with them. For any expense, do not settle and try to find other better possibilities. Extending the life of your assets depends largely on their proper maintenance.