He saving It is defined by Economipedia as income that is not spent but instead held as a low-risk asset (such as cash) to cover a need or emergency in the future.

This important strategy ensures that the person does not have to spend all the money that comes in from time to time.

For savers, maintaining effective control over their spending with a minimum wage can be a challenge. However, there are ways to enjoy a greater financial margin. Forbes mentions some:

How to accidentally get back money deposited into another account

How can I save if I earn minimum wage?

Be constant: advisor Andrés Moreno explains that the financial education It should be a constant in people’s lives, and he compares it to learned activities such as cooking, cycling or a certain sport, because this “makes people understand the need to generate enough income to be able to save and have skills .” with that money saved.”

Clear objectives: By visualizing the goals and their reason for existence, we can determine the actions that will lead to the person being successful in the financial field. To do this, it is very important to specify the amount to be saved, define the deadline, break down the goal into more manageable objectives and develop a personalized plan to achieve the goal.

Photo: Pixabay.

More income, more savings: Moreno states that “the ability to save is related to the ability to generate additional income in addition to your current salary.”

No debt better: This point is essential; If it is unavoidable to incur debt, it is better to learn to measure it and reduce expenses as much as possible. Also add it to the income and expenditure budget.

Be careful with ant issues: This point can be crucial when saving, because expenses that do not seem to represent much can become something important if they are added to the monthly accumulation and add up to a high amount.

(JO)