Force yourself to save money! 13 painless ways to pay yourself first
We are often interested in ways to increase the amount of money coming into our savings account. And why at the end of each month it turns out that all our money was dissolved in the air? Sometimes it seems that expenses, bills and debts are to blame. For some of us, saving is a heavy burden or a non-priority financial activity. In general, in order to get even with these problems, I will make a few suggestions on how to try to force yourself to save more.
Here's how to fool yourself to save money :)
1 Treat yourself like another person and pay him first
')
This is one of the classic approaches that is not at all difficult to apply. If you present yourself as someone as important as any of our other lenders, you can transfer money to your savings account just as you pay other personal bills or loan payments. Set yourself an arbitrary payout percentage - the most good advice is 10% of earnings - and deposit them into a savings account every month. I think that 10% is not bad for a start, but in the future, plan to allocate 20% or more to your savings account. Another name for this procedure is “to devaluate” (he himself invented :) - approx. transl.) - and this is a very good habit. When the time elapses from the start of the ten percent postponement, this procedure can become a habit and go into a routine.
2 Take advantage of leave accounts
To save even more and get closer to great results, you can create a savings account as an account with reduced or deferred taxes. Naturally, you will need to weigh your ability to save money for dismissal instead of more substantial obligations, such as paying off "heavy" debts or increasing savings for closer purchases or goals. A withdrawal with a reduced tax rate ahead of time can lead to fines, so if you open such an account, give yourself a promise to allow this fund to grow quantitatively over time and not withdraw money ahead of time.
3 Automate Savings
Direct transfers are one way to make sure your money is safely transferred to a savings account. But at the same time, you can get confused as to whether all income was cut off by 10%, from all incomes, these 10% went into a savings account. In any bank, you can set up transfers of interest from receipts to the account! Thus, you will always be sure that you transfer money to a savings account correctly.
4 Pay the loan or deposit as early as possible.
Accelerating payments on the loan or increasing the amount of payments, you replenish your wallet in the long term, saving on loan interest. Here (link in English - approx. Transl.) You can calculate how many years will decrease the repayment period, subject to additional payments on the loan.
5 Save unforeseen income after paying off debts
If you get an unexpected income, first repay your debts. If you do not have any debts, save all unexpected income or, better yet, invest it. Unforeseen incomes will really help you achieve tremendous success on the road to rational spending, if you always use the opportunity to invest “unexpected” money (such as gifts, promotions, inheritances, etc.) that you will receive with proper luck.
6 Pretend you didn't get promoted
So, you are lucky and you got a promotion at work! Congratulations! Now, if you can pretend that you have not received it, and add all the extra money to your savings account or investment account, you may be surprised in the future on the path to a stable and strong financial condition. I agree that the impossibility of celebrating a promotion is not so fun, so use a small part of the money to make yourself a gift (but I would avoid these things with a huge price tag)!
7 Pretend you didn't pay this debt even if you paid it.
Perhaps you are used to paying debts on time, but the time will come when you pay them all. When it comes, you will find that you have money in your pocket every month that you didn’t have before and that you couldn’t wait to get down to business. This is a great opportunity to help them, timely transferring them to a savings account designed to achieve their big goals.
8. Accumulate all the money saved through discounts and sales.
Big sales - big savings. So how about making yourself a check, which will add up all the money saved on sales? If you were ready to pay the full amount, but suddenly found a 10% discount, write it down to 10% of your savings account. This is one of the most painless strategies that will help you increase your savings account and that will become a habit.
9 Open an investment account and automate all contributions.
Learn the science of investing savings. The next step after cutting back on extra expenses is to find a way to make the money saved grow. When you understand the methods and objectives of investments, you can open separate accounts for investments and set up automatic monthly contributions for them. This is a powerful way to grow more money.
10 Create additional sources of income
If possible, explore other opportunities to earn money and do not stop there - this will help increase savings. By increasing your income, while keeping your expenses at the same level, you will free up more money for investments, savings and investments. I especially like to learn about how additional sources of income appeared by chance, such as when a hobby turns into a full-fledged business, or when someone successfully finds out that what he likes to do can generate income.
11 Forget about impulsive or unnecessary purchases.
Just say no to that inner voice that tells you that you can’t live without this wonderful leather chair. If you give yourself a few days to think about the necessity of buying, you can quickly realize that this is not what you really need, and you will forget about it in a few days. Distract with other things as actively as possible!
12 Save free salary
In some places, there are weekly payout systems, or bi-weekly payout systems. If you receive money every two weeks, live on these two payments a month. If you receive money once a week, try to survive on these 4 amounts for a whole month. In the end, it will end up in that you will receive a free salary at all in some months, and this will lead to savings of about 10% per year without any problems!
13 Invest investment dividends
Another great way to increase investment: re-invest all dividends received from investments and let investments grow further!
Copypast from blog .
Here's how to fool yourself to save money :)
1 Treat yourself like another person and pay him first
')
This is one of the classic approaches that is not at all difficult to apply. If you present yourself as someone as important as any of our other lenders, you can transfer money to your savings account just as you pay other personal bills or loan payments. Set yourself an arbitrary payout percentage - the most good advice is 10% of earnings - and deposit them into a savings account every month. I think that 10% is not bad for a start, but in the future, plan to allocate 20% or more to your savings account. Another name for this procedure is “to devaluate” (he himself invented :) - approx. transl.) - and this is a very good habit. When the time elapses from the start of the ten percent postponement, this procedure can become a habit and go into a routine.
2 Take advantage of leave accounts
To save even more and get closer to great results, you can create a savings account as an account with reduced or deferred taxes. Naturally, you will need to weigh your ability to save money for dismissal instead of more substantial obligations, such as paying off "heavy" debts or increasing savings for closer purchases or goals. A withdrawal with a reduced tax rate ahead of time can lead to fines, so if you open such an account, give yourself a promise to allow this fund to grow quantitatively over time and not withdraw money ahead of time.
3 Automate Savings
Direct transfers are one way to make sure your money is safely transferred to a savings account. But at the same time, you can get confused as to whether all income was cut off by 10%, from all incomes, these 10% went into a savings account. In any bank, you can set up transfers of interest from receipts to the account! Thus, you will always be sure that you transfer money to a savings account correctly.
4 Pay the loan or deposit as early as possible.
Accelerating payments on the loan or increasing the amount of payments, you replenish your wallet in the long term, saving on loan interest. Here (link in English - approx. Transl.) You can calculate how many years will decrease the repayment period, subject to additional payments on the loan.
5 Save unforeseen income after paying off debts
If you get an unexpected income, first repay your debts. If you do not have any debts, save all unexpected income or, better yet, invest it. Unforeseen incomes will really help you achieve tremendous success on the road to rational spending, if you always use the opportunity to invest “unexpected” money (such as gifts, promotions, inheritances, etc.) that you will receive with proper luck.
6 Pretend you didn't get promoted
So, you are lucky and you got a promotion at work! Congratulations! Now, if you can pretend that you have not received it, and add all the extra money to your savings account or investment account, you may be surprised in the future on the path to a stable and strong financial condition. I agree that the impossibility of celebrating a promotion is not so fun, so use a small part of the money to make yourself a gift (but I would avoid these things with a huge price tag)!
7 Pretend you didn't pay this debt even if you paid it.
Perhaps you are used to paying debts on time, but the time will come when you pay them all. When it comes, you will find that you have money in your pocket every month that you didn’t have before and that you couldn’t wait to get down to business. This is a great opportunity to help them, timely transferring them to a savings account designed to achieve their big goals.
8. Accumulate all the money saved through discounts and sales.
Big sales - big savings. So how about making yourself a check, which will add up all the money saved on sales? If you were ready to pay the full amount, but suddenly found a 10% discount, write it down to 10% of your savings account. This is one of the most painless strategies that will help you increase your savings account and that will become a habit.
9 Open an investment account and automate all contributions.
Learn the science of investing savings. The next step after cutting back on extra expenses is to find a way to make the money saved grow. When you understand the methods and objectives of investments, you can open separate accounts for investments and set up automatic monthly contributions for them. This is a powerful way to grow more money.
10 Create additional sources of income
If possible, explore other opportunities to earn money and do not stop there - this will help increase savings. By increasing your income, while keeping your expenses at the same level, you will free up more money for investments, savings and investments. I especially like to learn about how additional sources of income appeared by chance, such as when a hobby turns into a full-fledged business, or when someone successfully finds out that what he likes to do can generate income.
11 Forget about impulsive or unnecessary purchases.
Just say no to that inner voice that tells you that you can’t live without this wonderful leather chair. If you give yourself a few days to think about the necessity of buying, you can quickly realize that this is not what you really need, and you will forget about it in a few days. Distract with other things as actively as possible!
12 Save free salary
In some places, there are weekly payout systems, or bi-weekly payout systems. If you receive money every two weeks, live on these two payments a month. If you receive money once a week, try to survive on these 4 amounts for a whole month. In the end, it will end up in that you will receive a free salary at all in some months, and this will lead to savings of about 10% per year without any problems!
13 Invest investment dividends
Another great way to increase investment: re-invest all dividends received from investments and let investments grow further!
Copypast from blog .
Source: https://habr.com/ru/post/31312/
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