How to save money with a small salary? In modern life, this issue is often relevant. Time does not stand still, and with it the way of our life is radically changing. There are times when financially things are not going the best. This may be due to the crisis in the country, lack of jobs, employment for a probationary period, with a lower salary and other objective reasons. How to feed yourself and your family in this case? How to live with dignity? In this article we will try to uncover the topic: "How to save money with a small salary." Consider some of the most effective financial planning strategies and ways of additional income that allow you to stay “afloat” during the financial crisis.
Brief Preface
Before starting, we note that you never need to lose heart and be afraid of difficulties. Today you have a small salary and a difficult life situation. Do not wait until everything goes by itself. Strive to improve your situation: constantly look for jobs with more decent earnings. Do not give up various side jobs, money is never superfluous. Believe in yourself. Don't let it go right away, but it will work out, the main thing is to make efforts. Well, now back to our weekdays.
Control of income and expenses
How to save money with a small salary? Firstly, it is imperative to have the habit of controlling the income and expenditure of your financial resources. An example of this is accounting documents in which, up to a penny, you can trace where the money was received for a specific period and what it was spent on. To plan your budget, it is enough to start conducting paper home accounting or to start the corresponding file in the computer. If you choose the latter option, then it is best to use a special program, or at least get an ordinary spreadsheet.
Having got a notebook for controlling income and expenses, you need to divide each sheet into two parts. In the first part, you must record your income, and in the second - expenses. After analyzing the second column of such a notebook, you can clearly see what your financial resources are spent on and what you can refuse.
Piggy bank for money
How to save money with a small salary? Get a piggy bank. Another good habit is the ability to save money from every salary. This can be either a fixed or an arbitrary amount. What is the best way to save money? The best option is to save 10% of monthly income. Putting this money in a piggy bank, you will not feel the difference too much. But after a few months you will see that the amount in the piggy bank has increased significantly, and you can afford any unplanned purchase. It is also advisable to put the accumulated amount of money in the bank at interest so that the finances, so to speak, “work”.
Expense planning
Remember yourself in those days when your salary could not be called small. Surely sometimes you, having received money in your hands, did not hold back in the first days or hours, and spent a substantial part of your finances on things that were not essential items. It is important to understand that such times are already in the past, and it is imperative to get rid of the habit of buying useless or not very necessary things.
First of all, allocate part of the money for all necessary utility bills. Next, set aside part of the funds to pay for the Internet, mobile communications, television (if you have cable). Perhaps sometimes it’s worth refusing to use any services, which will save you some of the income. For example, turn off cable or cut the budget for cellular communications.
Next, you should defer part of the salary for the purchase of food and household chemicals. Remember that many products are not priority in the list of necessary goods, and often you can refuse to buy them, belittling your rash desires. You can also save some of your finances by buying products and household chemicals in wholesale warehouses, where prices are usually a couple of dozen percent lower.
Last of all, you should spend the remaining money on your wardrobe. Do not buy things rashly. In a difficult financial situation, it is best to occasionally update your wardrobe, adding a couple of things to it. In this case, you can save by buying items of clothing in various second-hand stores, thrift stores and at sales.
Try not to get sick
No matter how strange it may sound, but try to get less sick. Each of your diseases is not only a waste of medicine, but also a decrease in your ability to work. Due to going to the hospital, your income will decrease significantly, and in addition to this, there will be completely unnecessary expenses for medicines. Try to lead a healthy lifestyle. First of all, get rid of bad habits, such as smoking and alcohol, because this is also an additional column in your notebook expenses.
Chat with people
Communication with other people is one of the most important factors for the success of each person. Develop existing connections with friends and make new acquaintances! Never be afraid to find out about interesting vacancies and offer your candidacy for this or that job. Do this always, but not too intrusively so people don’t avoid you.
All thoughts on a successful future
Many people say that dreaming is a waste or even a waste of time. But we all know about the expression that states that thoughts are very material. And this is sometimes true indeed! When a person constantly thinks about something, then he scrolls hundreds of times in his head, as if he could achieve this. It follows from this that, dreaming of money, you will develop in your mind many new ways of making big money.
Other ways to save money
- If you have children, then, most likely, a significant part of the salary you have to spend on the purchase of toys, which have recently become more expensive. How to save money in the family? One way out of this situation is that you should never take your child with you to the store. Children almost always ask their parents to buy something if their father and mother take it with them. And here it’s not the principle of the need for this item that acts, but simply the stubborn desire to acquire this particular thing. Remember: if a child saw and wanted some kind of toy or treat, then it will be very difficult to persuade him to refuse them. Children do not realize that parents are pondering the question: “How to save money in the family?”. They just see something beautiful and want to get it.
- It is a habit of many people to attend various recreational activities. These include restaurants, clubs, cafes, paid venues for entertainment, etc. It is clear that we all need this to satisfy our emotional state, but doing this at the time of the crisis is completely inexpedient. Alternatively, you can go to such places for money saved, once a month or two. But if you have a small salary, then it is better not to spend money on entertainment.
- How to start saving money? Do not take with you more than is required to purchase the planned product. Go to the store with the list of necessary purchases and allow yourself to take exactly as much money as you need to pay for them. Often people allow themselves to buy completely unnecessary things, if they have extra money left in their pocket, beware of such situations. How to save money on products? Visit large supermarkets and wholesale outlets. There the price is much lower than in ordinary stores.
- Do you like to drive your own car? At the time of crisis, it is best to put the car in the garage and go on a ride in public transport. This measure is very effective, because gas prices are much higher than the cost of the ticket. An even more advantageous option is walking, if the distance allows. Try sometimes to walk the distance from work or from friends to the house on foot, and in a month of such walks you will see that you save significantly. In addition, it is good for health.
- What else can you save money on? If any home appliances or items fail, do not rush to contact a professional craftsman. Perhaps you can fix some breakdowns yourself, and neighbors or friends can help with some malfunctions. But still, if it becomes clear that you can’t cope with the breakdown on your own, then do not put off calling the specialist. The faster you begin to troubleshoot, the greater the chance that repairs will cost less.
Conclusion
How do people save money? They use all of the above methods and ways. Our tips will help you live with dignity with a small salary. But do not stand in one place and put up with this course of affairs. Remember that these are just forced measures related to your financial situation. Try to quickly regain your high income and start living your old life, leaving some useful habits from the material in this article! Do not be content with the small, strive for a new job and more decent income.