7 best financial life hacks from TikTok to help you save money and save for your dream

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

The most popular videos on how to save money on translations and not fall for the tricks of the brain when making large purchases.

1. Use the piggy bank "365 days"

@ann_paraklina #hademade # money # dream # dream # piggy bank

♬ original sound - MONEY THINKING

This method will allow you to accumulate 66 795 rubles per year without harming the budget. The bottom line is to save every day an amount equal to the ordinal number of the day in the calendar: January 1 - 1 ruble, December 31, respectively - 365 rubles. You can use a table to fix attachments.

In small steps you will come to a big goal. This is correct from the point of view of psychology.

Shlomo Bernatsi American scientist studying behavioral economics. Quote from a TED talk.

People mentally, emotionally and intuitively perceive savings as a loss because they have to cut back on their spending.

Therefore, you need to save a little, but often, so as not to experience stress.

If you just follow the scheme, then in December you will have to save more than 300 rubles every day, that is, 10,850 rubles per month, which is almost ⅙ of the goal. Therefore, it is better to cross out the numbers from the table not in order, but arbitrarily, focusing on the current financial situation. Or divide the calendar into four sectors: leave the numbers 1-91 in the first, then 92-183, 184-275, 276-365. And make it a rule to cross out a few numbers from each block every month in order to evenly distribute the load.

You can increase the amount if you keep money not in cash in a box, but in a savings account. In this case, the bank will monthly accrue interest on the deposit and you can withdraw your savings at any time.

2. Round off the balance on the card and put the excess in the piggy bank

@russian_finance

And if there are 1250 left, set aside 50. And if 310, then 10. It doesn't matter how much - is it important to regularly? # money # savings # financial literacy

♬ Hula Hoop - Thc The Harlem Child

This advice is based on the same principle of invisible savings. Only in this case, the amount of investment is arbitrary: today 600 rubles, and tomorrow - 20. That is, you cannot calculate exactly how much you will collect in a month, six months or a year, but you still gradually increase your savings.

You can choose the rounding step yourself: up to 100 rubles or up to 1000. For example, if the account has 11,645 rubles, then in the first case the balance will be 45 rubles, in the second - 645. It all depends on your desire and income.

Some banks have a similar function. For example, "Piggy bank for change" in "Sberbank" allows you to round up expenses.

Study the list of services in your mobile bank: it is possible that there is also such an assistant there.

3. Scheme of distribution of expenses "50/20/30"

@jatznaran

The 50-30-20 Rule #tiktokschool #education #learnontiktok #learn #personalfinance

♬ original sound - Jatz

In fact, this life hack was not born on TikTok. It was invented by the founder of LearnVest, Alexa von Tobel. This method of budgeting allows you to achieve a balance between different items of expenditure, because you will know exactly how much money you are leaving for each of them.

50% of income must be set aside for mandatory payments. This category includes spending on food, medicine, transport, utilities and mortgages. Simply put, everything that you cannot refuse in any way.

Another 20% should be covered by loans. If they are not there, this money can be put aside or invested.

We leave 30% for optional payments, such as parties with friends and other entertainment or app subscriptions. These are costs that you can cut back if needed.

Sometimes it is difficult to clearly divide the money according to this scheme. Alexa warns: it's okay if more than 50% of your income has to be spent on basic costs. In this case, you need to reduce the share of other spending, primarily through entertainment, shopping and spontaneous purchases. The main thing is that expenses do not exceed income.

If you do not have credit and are comfortable with planning your budget using the Alexa von Tobel method, try improving your life hack. Change the priority of payments and divide the money not according to the "50/20/30" principle, but according to the "20/50/30" scheme. That is, first "pay yourself": invest or replenish the piggy bank. People often forget about it.

4. Don't spend on payday

@russian_finance

# budget # financial literacy # family

♬ Home - Edith Whiskers

Otherwise, purchases are likely to be impulsive. The person thinks like this: there is a large amount on the account, which is probably more than enough for all expenses. However, this is just a trick of the brain. Loretta Breuning writes about this in her book Hormones of Happiness.

Loretta Breuning Writer. Professor at the University of California. Quote from the book "Hormones of Happiness".

A person experiences a powerful rush of dopamine when they get what they want, including a salary. Dopamine creates a sense of joy and comfort. In such conditions, the consumer does not fear financial difficulties in the future and is inclined to rationalize spontaneous purchases.

The same goes for budget planning. On the day of payroll or advance payment, it will be difficult for you to soberly assess the upcoming costs. You may be putting off too much shopping or entertainment. So it is better to remember the Russian proverb "The morning is wiser than the evening."

5. Minimize your transfer fees

@zuev_tiktok

Catch another life hack! #bank #financial literacy #lifehack #YourSummerYourTime

♬ original sound - Artyom Zuev

When transferring money between accounts of different banks, a commission is charged from 1 to 50% (for example, if you send 100 rubles to another card, and the bank keeps at least 50 rubles from each shipment). You will be helped by:

Fast payment system

It allows you to make transfers by phone number, but there is a limit: 100,000 rubles per month. More than 70 Russian banks are connected to the service, including Sberbank, Tinkoff, VTB, Alfa-Bank and others. Some of them, with the advent of the SBP, increased the commission for the old transfer methods.

You can use the fast payments function using your bank's mobile application. Find a fast payment service, enter the recipient's phone number and the required amount.

If you can't find a service, try looking for information about it on the bank's website. In some mobile applications, the SBP is hidden from users.

Recharge function in the mobile app

In this case, the transfer is carried out through the recipient's mobile application. To do this, he needs to open his account, select the tool "Top up" → "From a card of another bank", enter the sender's card number and the amount.

Translation by full details

To do this, you need to know the beneficiary's account number, full name, TIN, as well as the name and address of the bank in which the account is opened.

6. Save on bad habits

@zuev_tiktok

Quit smoking? #investment #portalforauthor #financial literacy # quit smoking

♬ original sound - Artyom Zuev

A pack of cigarettes costs 120 rubles on average. A person who smokes 8-10 cigarettes a day spends about 1,800 rubles a month on them. During the year 21,600 rubles are accumulated.

This money can be spent on educational courses or gym membership, and can also be invested in ETFs and receive a small passive income. If you collect a portfolio with a rate of 8% per annum and annually replenish it by 21,600 rubles, then in five years your account will already be 155,520 rubles. Thus, by getting rid of the bad habit, you will take care of your health and take a step towards your financial goal.

7. Plan savings taking into account inflation

@ km.moiseenko

#financialthinking #personal finance #financial literacy #financial planning

♬ original sound - Konstantin Moiseenko

The effect described in the video is called the money illusion. It is the tendency of people to consider only the nominal amount of money, and not their real value, that is, the value of goods and services that can be purchased for a specific amount.

Scientists started talking about this phenomenon at the beginning of the 20th century. And in 1997, US economists Amos Tversky, Peter Diamond and Eldar Shefir proved the real impact of the money illusion on consumer behavior. In the course of experiments, they found out that 52% of investors forget about price increases when setting long-term financial goals.

When calculating your savings, take into account not only interest on deposits, but also the inflation rate. To do this most accurately, use special services, for example, an investment calculator from or a broker "". Enter the desired savings amount, period, currency and inflation rate. According to Rosstat, in Russia its average annual value is 6-7%. The program will show the value of your goal in a few years.