Pre-Saving Tips: What is it and how to put it into practice?

There are many ways to save.

The inflation crisis and general price increases mean that Let’s measure our spending more and find new ways to save. Some of these solutions involve taking advantage of the discounts some supermarkets offer on their products, while others focus on making better use of household resources such as water, gas or electricity. But in addition to these formulas that give us more control over our bills, there are many tips for saving money.

The most famous of these is the Fractional Challenge, a small-scale savings formula that basically consists of Save a penny every day compared to the previous day. Specifically, this tip starts with one cent and increases by one cent each day over the course of an entire year. For example, if you deposit only one penny on the first day, you must deposit two cents on the second day, three cents on the third day, and so on until the final amount of 667 is produced at the end of the year. 95 euros.

Given its simplicity, the split challenge is one of the most popular savings formulas out there, although it’s not the only one.Instead, users They may also benefit from other savings methods, such as envelopeswhich involves collecting all revenue and dividing it into envelopes based on expense type, or Haf Ekfarecommends dividing income according to six different types of expenditures (basic needs, savings, training, investments, leisure, and donations).

Pre-save tips

In addition to these potentially overwhelming tips, there is a fairly simple alternative that can help us save money without having to divide our income according to expenses.This technique is called the pre-saving technique and basically consists of Send us a fixed amount of monthly salary or a percentage of salary Deposit into a savings account.

Pre-saving tips can help avoid unnecessary spendingupper part

By applying this trick, the money set aside never becomes available in our checking account; Safely stored in a savings account. This way, we can build up a financial buffer month by month, a substantial amount of savings that we can use to cover unforeseen financial events.

Pre-saving tips can be accomplished by arranging automatic transfers to our checking account, which can Help users generate savings consistency, in addition to helping them avoid unnecessary expenses. Most people base their spending on the money they have in their account, so if they don’t see those amounts in their account, they will be able to reduce these types of unnecessary costs.

To set the percentage of income that should be allocated to a savings account, experts They recommend sending 10% to 20% of your monthly salary Able to easily cover the month’s expenses.