Post by hasan77 on Feb 15, 2024 4:18:18 GMT
Methods that suit each person. Some traditional options, such as the “envelope method,” allow you to allocate a specific amount of money for different expenses. On the other hand, newer options, such as the “bullet technique”, propose saving intensively over a certain period. It doesn't matter which one you choose, the important thing is to find one that suits your needs and start saving effectively. Here we present some of the most effective savings options : The bullet technique. It consists of reserving all the bills in a certain denomination, whether they are 5, 10 or 20 euros, depending on what is most suitable for each individual. The goal is that every time you have a bill of that denomination, it should be placed in a safe place .
This allows considerable savings to be generated over time. The 50/30/20 method. This savings technique is based on an approach known as the “50/30/20 method.” According to this Australia Email List method, around 50% of your income should go towards covering essential expenses , such as rent, food, utilities, etc. About 30% of your income could be used for personal expenses , such as entertainment, shopping and clothing. Finally, at least 20% of your income should go toward savings and paying off outstanding debts to establish an emergency fund and improve your financial health.
The Kakebo method . This is a Japanese savings strategy that involves carefully tracking all income and expenses in a notebook. Even the smallest expenses are noted down, with the goal of having a clear view of your finances and understanding what you are spending unnecessarily on. Likewise, this approach includes setting savings goals and reflecting on money management. The envelope method. It is an easy-to-use technique to control expenses and save money. The main idea is to distribute the monthly money into envelopes destined for different categories , such as transportation, food, entertainment.
This allows considerable savings to be generated over time. The 50/30/20 method. This savings technique is based on an approach known as the “50/30/20 method.” According to this Australia Email List method, around 50% of your income should go towards covering essential expenses , such as rent, food, utilities, etc. About 30% of your income could be used for personal expenses , such as entertainment, shopping and clothing. Finally, at least 20% of your income should go toward savings and paying off outstanding debts to establish an emergency fund and improve your financial health.
The Kakebo method . This is a Japanese savings strategy that involves carefully tracking all income and expenses in a notebook. Even the smallest expenses are noted down, with the goal of having a clear view of your finances and understanding what you are spending unnecessarily on. Likewise, this approach includes setting savings goals and reflecting on money management. The envelope method. It is an easy-to-use technique to control expenses and save money. The main idea is to distribute the monthly money into envelopes destined for different categories , such as transportation, food, entertainment.