For many people, accumulating money becomes a serious problem, as there are too many temptations around in order to spend all the cash. At the same time, if you tackle the accumulation wisely, it can be not only effective, but also interesting.
Instructions
Step 1
Determine how much and why you want to save. This will make it easier for you to know how much to save. Don't make accumulation too burdensome for yourself - it's easier to save a little, but regularly.
Step 2
Calculate your budget and you can understand your savings opportunities. Determine how much you need for compulsory expenses - food, transportation, utilities and others. subtract this amount from your income. You will end up with an amount that you can theoretically save. This amount can be saved in cash or saved in a bank account.
If you run out of cash after calculating your budget, consider cutting costs. For example, a good opportunity to save money is to ditch business lunches in favor of lunches brought to work from home.
Step 3
Start keeping a daily record of income and expenses. This will help you spend your money wisely and refrain from unnecessary spending, therefore, save more money.
Step 4
Use a traditional piggy bank to save money in cash. The main thing is that it should be disposable, without the ability to open it at any time. The need to break it will keep you from impulsive spending. However, please note that this method is suitable for accumulating small amounts in a short time. In another case, it is not profitable to save up in cash, since the real purchasing power of money decreases due to inflation, and the savings stored at home do not increase.
Step 5
Open a bank deposit to store and increase the accumulated amount. Choose a deposit with the possibility of replenishment - this will help you save more efficiently. Open an account in the currency in which you earn or plan to spend money. In this case, you will not lose some of the money on conversion.
Also, when choosing a deposit, pay attention to whether it provides for capitalization of interest. In this case, once a month or quarterly, the interest accrued for the specified time will be added to your principal amount of the deposit. This is more profitable than paying interest at the end of the term.
Step 6
For individual situations, there are specific ways of accumulation. For example, if you want to save money for old age, it is more profitable to save money not in a bank account with sufficiently low interest rates, but to participate in the pension co-financing program. There is a state program under which, if you deposit additional funds into your pension account, at least 2,000 rubles a year, the state will double this amount. In addition, you can transfer part of your pension to a non-state pension fund. In this case, your retirement funds will generate more income, which will increase your retirement in the future.
