The Secret to Saving Money

We all have good intentions when it comes to saving money, right? We tell yourself that we will start saving as soon as we reach a certain milestone, such as when we reach a certain age, receive an increase or the children move.

But in reality you will only start saving money if you develop healthy money habits and your future needs become more important than your current needs.

Don’t worry, it’s not as overwhelming as it sounds. With a few adjustments to your spending priorities, you are on the right track to save money in no time.

Why Americans don’t save money
We all know we have to save, but most people don’t save the way they know they should. In fact, a report from the Federal Reserve reported that about 40% of Americans surveyed would have trouble covering an emergency of $ 400. (1) Why? Because they have competitive goals.
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Often the goal of saving money is not enough to postpone the purchase of that new smartphone, kitchen table or TV. So we spend our dollars or - even worse - we make debts to buy the latest need. That debt then becomes monthly payments that regulate our salary and our lives.

So what’s the secret to saving money?
You can stop the salary-to-salary life cycle with a simple secret: create a zero-based budget before the month starts. A budget is all about being intentional. It helps you make a plan to see where your money goes and how much you can save every month. It is never too late to control your money!

Save money with a zero budget
A zero-based budget is simply when your income minus your payout equals zero. You give every dollar a name - or you get an order - before you save it or spend it. And do it until the last penny!

Start with your most important categories first. We call this the four walls:

Food
Shelter and utilities
Basic clothing
transport-
Save (and give!) Must be a line item in your budget, along with the Four Walls. After you have reserved money for your savings and your basic needs, you fill in the rest of your budget with what remains. When you plan in this way, you prevent your money from running out before you start saving!

Saving money doesn’t have to be difficult