There are many ways to save money, and unfortunately, many people don’t save. This time we want to encourage you to do it and if you don’t know how, here I will show you several ways to do it.
This website defines what it means to save. And I love two of your first definitions because they go something like this:
- Saving means saving some of the money that is ours. For example, I will save half of this month’s salary.
- And another definition is that it spends one thing less than we would normally spend. For example, I won’t save any money, but I will spend a little to last the whole month.
ways to save money
As entrepreneurs, we need to learn these two ways to save that we saw earlier. But then we will expand further to know other saving methods as well.
1- Save part of the money received
It’s very simple, you just need to know how much money you get per month, subtract the main expenses and take a percentage with the rest to save. The idea is that you see that percentage as other expenses so you don’t touch it. You have to be very disciplined and strict about this, because only then can you see the results of your savings. Just as you don’t spend the money on your baby’s milk, you can’t touch that percentage either.
2- Spend less
Another way to save money is to spend less. This doesn’t necessarily mean buying fewer things, but trying to shop at good prices. Not bad, because that also helps you as a business owner with the first point because you have less expenses and less temptation to put your savings there aside. Here are some tips that may help you:
- Don’t buy expensive things so you can buy them at a better price or get them for free.
- If you’re buying something for Christmas or another festive party, buy in advance if possible. Well, everything goes up during the season.
- Don’t be easily manipulated by advertising, fashion, etc.
- Be a discount seeker.
- Make an exchange, maybe you want to buy a book but your friend has it, why not exchange for something else?
There are many things you can do to save money. This way your income goes for more things, you can save as we said in point one and you can even make investments.
3- Place your savings in a more convenient asset
Another of the most convenient ways to save money is to invest your income in other currencies or that it is constantly increasing. For example, it’s my country where our currency is devalued every second, it’s nasty to say I’ll be able to save on it. Well, the 1,000 I’m saving today that I used to buy for a pizza, for example, won’t be enough for me tomorrow (or next week, not to exaggerate, even if it happens).
Because of this, many are trying to save in other currencies such as cryptocurrencies, dollars, euros, etc. And it’s a good strategy buddy, more than just saving protects your money, so see where you can put your savings.
4- Take care of your body and you will see how you save
It’s a bit complicated, but an excellent way to save and naturally improve your health. I mean discipline yourself and stop using or doing things that you know aren’t good for you. For example smoking, drinking alcohol, living from party to party, eating a lot of junk food. But do it from those two points of view, that is, I save money and I take care of my body.
I know it’s something many won’t do, but only the brave who want to get better, I know they will, come on entrepreneur, you’re brave. If you see that it is very difficult for you, start small. That means if you used to smoke a pack of cigarettes a day, go down to medium. The next day it goes to 4 cigarettes, then 2…and so on until it reaches 0.
5- Pass your finances on to someone else you trust
Of all the ways to save money I’ve shared, this is the one I consider the last option. Firstly because as entrepreneurs we need to have our own control to be able to use the past tense and secondly because you cannot completely rely on another person.
But we also have to be honest, and if you don’t have that control yourself, we have to find a reliable way to achieve it. And that means giving it to your partner, a trusted family member, or someone you know to be reputable and honest so they can manage your money.
That is, someone who only gives you what you can spend and no more. I hope you don’t have to get to this point, but no doubt for many it’s either do this or never save. It also has to be a solid person that you respect… and not some person you can manipulate who gets your money handed to you the first time.
Don’t wait any longer and save your money
The time to save has come and it is now. Don’t waste any more time because every day that goes by is money you lose. If you know other ways to save money, you can share it in the comments. Likewise, I would like to ask you to comment on the form you will take, because you believe this is the one that suits you best and is the one that you have the most confidence in being able to work.
I can only say goodbye without further ado and wish you every success with your projects. Don’t stop visiting us, we are here for you. A hugged entrepreneur friend and until next time.
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