When they plan their budget, they do not include all families saving as a fixed monthly category. Most of the time, savings is seen as money left over from monthly expenses rather than an investment in the future.

One of the reasons is that sometimes monthly expenses are too large and take priority over savings. However, there are ways to organize the budget so that the amount is saved at the end of the month.

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Cynthia Farahfinancial advisor, believes that Yes, it is possible to cover monthly fixed expenses and have savings at the end of the month. She recommends first reviewing your average income and expenses.

The goal is that actions can be taken not to reduce costs, but to create new sources of income.

According to Farah, savings should be considered “another fixed monthly expense”, namely “It is not something that is done when there is an excess and it is justified because it is not enough“.

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This saving must be respected and not used, except in serious or urgent situations. emergency.

“Don’t use it because you can’t afford it. In these cases, ask yourself how you can earn, create or receive more money“, suggested the expert.

One way to avoid using the savings amount is to create a savings account that locks in the amounts. If you have a debit card from that bank, you should not carry it in your wallet, but keep it at home so you don’t make impulsive purchases.

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