9 minutes agoAuthor: Gaurav Tiwari
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What Have you ever felt that it’s a difficult task to save money? Every month expenses increase and there is nothing left in the pocket. But the truth is that saving is not a big deal, it is a small habit that can make your life easier and safe. Whether you suddenly need money or fulfill your dreams, a little savings can do a lot for you.
Savings should be started with small steps. Initially you may feel that nothing will be left from your current earnings, but when I kept an eye on my expenses and planned a little, then it became easy. Today I am going to tell you how you can also make a habit of savings and how to make it a part of your life.
Today ‘Good habits‘We will talk about the habit of saving money in the column. Will also know that-
- Why is savings necessary?
- What are the benefits of saving?
- What can cause harm by not saving?
Why is savings necessary?
Everything is becoming expensive in today’s world. Fare, electricity bill, children fees – everything is increasing. In such a situation, if you do not have some savings money, then it can be difficult. Savings not only use you in times of trouble, but also makes a way to fulfill your dreams.
For example, if the doctor suddenly costs or the car gets spoiled, then savings are your support. And if you want to go on holidays or are doing something big for the future, then savings is also necessary for this. It gives you mental relaxation and makes life light.
5 big benefits of savings habit
Saving is not just to add money, but to improve your life.
- You will not have to take a loan in trouble.
- You will have less worry about financial needs.
- You will be able to fulfill your dreams, it will be happy.
- Will be ready for sudden expenses.
- Money will increase to invest.
How to make a habit of savings?
Now the question is how to start savings? This is not a magic, just a little smart way. Here are 10 easy tips-
1. Set your goals
First of all think why you want to save. Do you want a car? Or need money for children’s education? The target is small or big, write it clearly. My first goal was to create a 6 -month emergency fund and I got courage.
2. Learn your expenses
See the account of the previous month. Tea, snacks, bills- note all. You will be surprised how much money goes on small things. Once you know where the money is going, it will be easy to stop it.
3. Make budget
Budget means your earnings and expenses are accounted for. See your salary, then separate the necessary expenses like rent, ration. After this, keep a part for savings. Make it so that you feel that “Yes, I can do this.”
4. Give yourself first
As soon as the salary comes, first of all put some money in your savings account. Consider it a gift for yourself. I save 10% first every month, then spend the rest.
5. Automatic savings
Set auto transfer in the bank. Choose a date every month when some part of your salary goes directly to the savings account. You will not even have to think with this.
6. Make small start
If it seems difficult to save 5000, then start at 500. Gently increase it. When you see money growing in your account, it will be fun.
7. Create Emergency Fund
Keep the money equal to at least 3-6 months expenses. This will act like a shield for you. I made it slowly and today I feel peaceful.
8. Avoid expenses without thinking
Stop if you ever look good. Think- is it really needed? I now wait for 2 days before buying something big. It often seems to be later not necessary.
9. Reduce wasteful expenses
Eating outside, subscription, expensive hobbies – look at them. Remove what is not necessary. Put that money into savings. Small savings later become large.
10. Reward yourself
Tell your goal to a friend. When you fulfill a purpose, let yourself be praised. For example, after saving 5000 I ate sweets of my choice.
Disadvantage
If you do not save, you may have to depend on others in difficult times. Debt may have to be taken, which increases more stress. Your dreams can remain incomplete. So start from today itself, so that tomorrow does not regret it.
Start from today
Creating a habit of savings is not an overnight work, but it is not impossible either. Like me, you should also start with small steps. Save a little every month, and see how your life changes. It is not just a matter of money, but it is a matter of confidence and happiness. Make a small goal today. Look at your expenses, create a budget and start savings. Remember, the journey starts with the first step.
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