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WAYS TO INCREASE YOUR MONTHLY SAVINGS

by Abbey Lily
WAYS TO INCREASE YOUR MONTHLY SAVINGS

WAYS TO INCREASE YOUR MONTHLY SAVINGS

WAYS TO INCREASE YOUR MONTHLY SAVINGS

 

WAYS TO INCREASE YOUR MONTHLY SAVINGS

WAYS TO INCREASE YOUR MONTHLY SAVINGS

Looking at the present state of the economy in Nigeria, it seems very hard for a salary earner to save an amount from his or her income. However, you must know that no matter the amount you are earning if you don’t manage it well you won’t be able to save any amount.
Saving starts from the right mindset. You need to know that if you believe you can save, you will be able to save. If you are earning millions and you still have the mindset that the money is not enough, you will not be able to maintain your savings. Savings rescues us from future embarrassment and if you don’t save now, there it will cause some discomfort in the future.
Take note of the following points so you can know the easy ways for you to increase the amount you save every month.

BUY ONLY WHAT YOU NEED
Most of us love to acquire a lot of things but at the end, we realize we don’t need all the things we have bought. To save more from your income, stop buying what you don’t really need or what you don’t need at the moment.

GET A CHEAPER CREDIT CARD
Try not to use the credit cards that deduct money from your account. You can use those with a cheaper rate or the one that will pay you when you make use of it.

USE A CAR IF POSSIBLE
As a couple, if you desire to save more and you are using two cars, adjust to using the same car as this will allow you save more and reduce the stress of maintaining the two cars, fueling and other things that you spend money on, in your car. One person can always drop off the other at the different destinations if possible.

TAKE RECORD OF YOUR SPENDINGS
If you don’t know how much you spend in a month, you might not be able to save. Don’t just allow your money to flow out, know what you are using your money for. To be able to do this effectively, you must make a budget of your income and plan your expenditure well also.

DEVELOP THE SAVING HABIT
For you to be able to save, you must work on your habit. If you are the type that spends anyhow on anything, you need to work on it. No amount is too small to save. Saving #20 everyday will get you something extra at the end of the month.

DON’T POSTPONE
Your decision must be put to action immediately. Don’t say you will do it tomorrow, that #10 in your hand now is your starting point. You don’t have to go to the bank to do this, you can get a can, a purse where your money can be safe and start those extra savings.
Working on your savings will a go a long way in improving your finances and saving you from that embarrassment that may come up in the future. START NOW.

 


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