Who never had that thought: wow, I need to save money. Sometimes we don’t even know what for, we just know it’s necessary. Then comes another question: But how to save money in a year, for example?
Sometimes the hardest part of saving money is just getting started. Once you understand everything you need to do, how to organize your expenses and set goals, these actions become part of your day to day and it is easier to see the money at the end of the month.
According to a survey conducted by CNDL (National Confederation of Shopkeepers) and SPC Brasil (Credit Protection Service), only 1 in 5 Brazilians saved the money they saved.
The majority of respondents (75%) did not make any savings, according to the study. Those whose income is low manage to save less, only 15% of respondents in classes C, D and E saved part of their salary in January. Among consumers of classes A and B, this percentage reached 32%.
If you got to this article it is because you want to be part of the minority group that can save some money at the end of the month, learning how to save money in a year.
One of the best ways to make money over is by setting a goal. In addition to the time of a year, also think about the reason that makes you want to save: it can be for your wedding, your vacation or for retirement.
Then find out how much money you will need.
The tips below on how to save money in one year can help you develop a simple and realistic plan to save on your goals, big or small.
How to save money in one year: 7 tips
1) Record your expenses
The first step in saving money is to find out how much you spend. Track all your expenses. That means knowing everything you spend “tintin for tintin”. From the coffee to the installment of the car.
Once you have your data, organize the numbers by categories, such as gas, supermarket and rent, for example. Then total each item. Consider using your credit card or bank statements to help you with this.
Many cards automatically categorize your transactions. But if you paid in cash, keep the note. This is an important tip on how to save money in a year because it will help you have more control over your spending.
Once you have an idea of how much you spend in a month, you can start organizing expenses within your budget.
The idea is to describe how your expenses match your income so that you can plan your expenses and limit your extra expenses.
In addition to your monthly expenses, include expenses that occur regularly, but not every month, such as car maintenance.
2) Plan your spending
Now that you’ve made a budget, create an economy category within it. Try to save 10 to 15% of your income. If your expenses are very high and you do not save that amount, it may be time to cut some expenses.
To do this, identify items that are not essential, those that you can spend less on, like entertainment and meals, for example. Find ways to save on your fixed monthly expenses as well.
Extra tip on how to save money in one year: consider the money you put into savings as a regular expense, similar to the separate amount for the supermarket. This will reinforce good savings habits.
3) Understand your priorities
After evaluating your expenses and income, your goals are likely to have the greatest impact on how you allocate your savings.
Remember your long-term goals. However, it is important that retirement planning does not hinder short-term needs.
Learn how to prioritize your savings goals to get a clear idea of where to start saving. For example, if you know that you will need to replace your car in the near future, you can start saving money now.
4) Choose the right tools
Nowadays there are several applications that help to control finances, such as Pocket Guide that separates your expenses for you to keep everything saved.
A good tip on how to save money in a year is to choose this type of app as an ally, that way you not only save money but also save time.
5) Know where to invest
Since you are learning how to save money in a year it is also important that the amount saved does not stay put.
Choosing an application, such as direct treasure, that makes it pay helps you to reach the goal more easily.
Extra tip on how to save money in one year: you don’t have to choose just one type of application. Look carefully at all of your options and consider things like balancing minimums, interest rates and interest rates so you can choose the mix that will help you save for your goals.
In the video below you have more tips on where you can invest and how to start, for example in direct treasury.
6) Track the growth of your savings
Review your budget and check your progress every month. This will not only help you maintain your personal savings plan, it will also help you identify and correct problems quickly.
These simple ways to save can even inspire you to save more money every day and reach your goals faster.
7) Look for free offers and samples
Saving on products, whether with gift coupons or receiving free samples, already helps a lot to save a buck in the month-end accounts. This will impact your savings plan.
The Big Tester is another tip on how you can save money in one year. That’s because on this site you can win various items from cleaning products and even chocolates. The step by step to sign up is simple:
- register for free;
- answer questions about your consumer profile (no bank details or credit cards are required);
- accumulate points and exchange for the products of your choice.
The more you answer, the more points you accumulate and the more products you can redeem. The site does not make sweepstakes!
Brands and products include Kinder, Kopenhagen, Nutella, McDonald’s and more.
Start having fun and exchanging your points.
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