Spend less and save more: simple rules we forget about

2024 Author: Malcolm Clapton | [email protected]. Last modified: 2023-12-17 03:44

We learn to set clear goals and start a jar for change.

How to spend less

1. Keep track of expenses and income

The most common reason for unreasonable spending is lack of control. To determine exactly where money is flowing, you need to keep a daily record of expenses and income. Choose a convenient time, for example, in the evening, write down expenses and the arrival of money in a notebook or a special mobile application.

The categories in which the most impressive amounts are obtained are best divided into smaller ones. For example, break "Food" into "Products", "Cafes, restaurants", "Lunch at work". This will allow you to more accurately determine the source of increased spending and optimize them. For example, instead of sitting with friends in a cafe, you can arrange a trip out of town for barbecue, which will cost less.

Daria Balaboshina consultant-methodologist of the project of the Ministry of Finance of the Russian Federation to improve the financial literacy of the population

By the end of the first month, you will be able to learn a lot about yourself and your habits. And correct them if necessary.

2. Plan your budget

Calculate how much you need to spend each month. An ideal budget is one in which incomes exceed expenses by at least 10%.

Determine a daily or weekly spending limit for each of the spending categories and stick to it strictly. To cope with the temptation to spend more, you can set a daily spending limit for your bank card (you can set it up in Internet Banking).

Develop personal rules for your spending based on their significance. For example, food, utility bills, loans, debts. This way you will prioritize, avoid penalties that appear in case of delays in loan payments, you will not spend funds to pay “in advance” where it is not needed.

Natalya Fefilova Development Director 404 Group

3. Make your life harder

There are several ways to get rid of impulsive spending. But this will have to complicate shopping trips.

• Go shopping with a product list and stick to it.
• Bring a limited amount of cash with you (or a card with a daily limit).
• Establish a rule: if you really like “those green shoes”, do not buy immediately, but the next day, if you don’t change your mind.
• Avoid spending on convenient, but unnecessary things, such as coffee to go, home delivery, and so on.

4. Take inventory

Periodically (once a month or six months) take apart your wardrobe, bookshelves, and food supplies. Make lists of what you have. Perhaps in the closet you will find a vintage dress that is super hot today. And in the kitchen you will find stocks of cereals that you have forgotten about.

Get rid of things you don't use: sell what you can, even for a small amount.

I did a wardrobe analysis with a stylist and described my style. I got rid of the things that I don't wear and donated them to thrift stores. Every season I create a Pinterest board, add things I like, then delete things that don't fit my style. As a result, I buy only those clothes that definitely suit me, match my wardrobe and stay in fashion for several seasons. The amount that I spend on things has decreased three times.

Kira Zhestkova Marketing Director of the Fins.money service

5. Learn to refuse

You can earn income from informed shopping. Every time you hold yourself back from an impulse purchase, send the cost to a savings account.

Every month I find at least 10 items of expenses that I will give up. These can be both little things (for example, takeaway coffee), and more serious purchases: the tenth shirt in a row, regular shoes, some unnecessary interior elements, and so on. At the end of the month, I calculate how much I managed to save.

Maxim Sundalov Head of the EnglishDom online school of English

6. Take advantage of privileges

Set a rule for yourself to wait for sales. In your favorite stores, you can determine for sure whether the item is on sale at a discount or whether it is a dishonest marketing ploy.

Take advantage of the loyalty programs that almost everyone has now. Do not forget discount cards at home (or even better, add them to a special mobile application). Stay tuned for the news: many stores are organizing promotions that allow you to save money.

Don't forget about cashback. For example, there are cards with cashback miles in the amount of 4% of the purchases made. You can only spend this money on travel. But it will be an additional piggy bank for a specific purpose.

Arthur Lyubarsky independent financial advisor

7. Transfer purchases during opening hours

Comparing is a good incentive to start saving. At a minimum, this will allow you to think about the need for certain expenses.

Translate the price of purchases into opening hours. For example, you work from 9 am to 6 pm, five days a week, and your salary is 40 thousand rubles. Your hour costs 250 rubles on average. Bought shoes for 4,000 rubles - that's two of your full working days.

Anastasia Tarasova independent financial advisor, blogger

8. Look for new ways to relieve stress

For many, shopping is an effective way to cheer yourself up. However, this is a bad habit. Shopaholic bouts lead to unnecessary waste, which can increase stress. You will berate yourself for wasting money on unnecessary things. And you will not be able to get out of the trap "No matter how much you earn, everything is wasted."

It's a vicious circle. You are stressed - you go to a cafe, to shopping, to a spa, and so on. Spend money, the cost of maintaining a standard of living goes up. The bottom line is that you burden yourself with extra work and drive yourself into even more stress. Income can grow, along with the cost of living, but not the pleasure of it.

Galina Ievleva founder of the "Workshop for Achievement of Goals"

What to do? Find non-monetary ways to relieve stress: walking, socializing, sports, music, and so on. Learn to say a firm no to anti-stress shopping.

How to save more

1. Set clear goals

Make your request as specific as possible. Not "I want a car," but "I want a red car of a certain make by summer next year." Calculate how much you need to save for this. When you visualize a dream, it will be easier to limit your spending.

To save money more efficiently, automate the process.

If you receive a salary on the card, set up a transfer in the amount of 10% of each receipt to the savings account. On it, interest will be charged on your savings (sometimes they are higher than on standard bank deposits).

The advantage of a savings account is that money on it is protected more reliably than on a bank card, including from yourself. Removing and spending them "in one motion" will not work.

2. Learn mindfulness

To squander and waste everything cleaned up is a sign of an infantile attitude towards money. But the ability to manage finances is the skill of a mature personality. And he can and should be trained. Look for your own way of how to do this.

Immediately after any cash receipt, divide the amount into several parts. Set aside one part - 5–10% - as an emergency reserve. This is an airbag that you only use in case of force majeure. Invest the second part: entrust this business to professionals or make a deposit in the bank yourself. It is important to realize that now money is working for you, and not vice versa. Spend the third part on everyday needs, trying to avoid impulsive spending.

Rostislav Plechko athlete, entrepreneur

3. Start a jar for change

As you know, the kopeck protects the ruble. Start a box or jar at home where you will put the change that appears in your wallet. In a month in such a piggy bank, you can collect several thousand rubles, which will definitely not be superfluous.

4. Find new sources of income

It is very easy to find a part-time job today. There are special Internet services that unite customers and performers for any type of work. You can earn extra money all the time, in your free time from the main occupation, or take one-time orders when there is a desire and opportunity.

Part-time work can be not only tiring, but also enjoyable: walking the dog, taking documents, finding information on the Internet, and so on. Choose according to your taste.

The most important thing is not to spend, but to save all the additional income, plus the monthly deductions from the salary. If you follow all these rules, your financial situation will improve quite quickly.