How to Save Money Even With a Small Salary


There is no shame in saving. And thoughtful spending has not yet harmed anyone. But to provide you with the necessary funds for a “rainy day” economy will help. Here are useful tips on how to save and multiply your hard-earned income.

Even if a person earns reasonably well, but cannot control their expenses, their level of well-being is unlikely to increase. And many people, without noticing it, fall for the bait of loans and debts. No one will deny that making money and increasing your savings is a kind of talent. It speaks of an organized personality, the ability to control their whims and desires, reasonable calculation, and practicality.

Is it possible to cultivate such a talent to provide your guarantees of stability? Let’s find out. How to save and multiply your hard-earned income: useful techniques that work

Four envelopes

This technique involves refusing to give up minor expenses for two weeks in favor of key ones: utilities, transportation expenses, food, hygiene items, and clothing. By removing costs that are not of primary importance, you will see how much money you need to cover your essential needs. The resulting figure should be multiplied by 2 – this is your approximate monthly limit.

This amount should be divided equally into four regular paper envelopes, each of which (it is not difficult to guess) will be opened on the Monday of the upcoming week. Goal: try not to exceed the specified limit for seven days.


The so-called “50/20/30” rule States that 1/2 of the monthly income should be spent on personal needs, 30% – on additional activities of secondary importance, without which, if desired, you can do without (leisure, beauty treatments, shopping) and 20% – on debt repayment (if any) and savings.

Set goals

To save money effectively, you need to be clear about what you are doing it for. The goal should not be “sky-high” but quite achievable at the moment: “I want to buy a new computer.” Not ” I want a house in Paris.” It is essential to specify what you want: “I need to set aside so much in six months.” If you break the final goal down into step-by-step stages, you will see precisely how much you need to postpone.

Plan your purchases

It is essential to implement the slogan “Less reckless spending” in your life. This applies to absolutely everything – the main thing is not to give in to emotions and fleeting whims. It is useful to create lists for each specific period or one-time promotion, such as going to the supermarket. This way, you will not go beyond the specified amount and, at the same time, buy what you need.

Unsubscribe from credit cards

Credit cards may mislead us about the amount of money available. They give the illusion of wealth. You can spend as much as you want, fulfill your desires here and now, no matter when wages loom on the horizon. As a result, there is a risk of” overgrowing ” debts and new loans. The inevitable percentages are out of the question. It was already mentioned above that cash is more comfortable to plan a budget, and a person makes fewer unplanned purchases due to the lack of immediate payment options.

Ten second rule

This psychological technique will make it possible to consider desires without emotions. If you see an available product that you can buy right now, you should pause for 10 seconds and think about whether you need this purchase. Approaching the situation from a rational point of view, you will most likely conclude that you can easily do without this purchase.

Save more tomorrow

A handy tip is to set aside more money with each subsequent increase in income of any kind (wage increases, hourly part-time work, etc.). The idea: to set aside not a fixed amount of monthly payment, but a specific percentage from each financial “top-up.” This principle will teach you how to accumulate money.

The use of mobile applications

If you want to control your spending, you can’t do without strict accounting. There are unique free computer and smartphone apps that will allow you to” monitor ” your spending and figure out how to reduce it and what to save on.

A particular application for managing your finances can be synced with your Bank card/payment system. This makes it convenient to plan your budget, track your income and expense statistics, and see reminders about paying bills.

Keep money in a Bank.

A Bank account (even if it is not large at all) will protect you from ill-considered spending, for example, when your hands itch to place an order through a tempting online store advertisement. The Deposit allows you to store and accumulate finances for the duration of the specified period; however, you can only withdraw money (when it occurs to you) with the loss of relevant interest. A savings account is an excellent alternative to a Deposit: you can withdraw money, and interest is accrued on balance. With this version, savings are undoubtedly growing more slowly.

Here are some other services that make it possible to save money:

  • Recapitalization – accrual of interest on interest. The older the Deposit in the Bank, the greater the benefits for the depositor.
  • Cashback card – a small percentage of the purchase is returned to the account with money/bonuses.
  • Automatic rounding of the remaining balance: the “tail” is transferred to a separate account and accumulates completely imperceptibly.
  • The card where the interest is explicitly charged on the balance of funds. It will not be large, however, as they say, “a small thing, but nice.”
  • The limit on spending funds on a specific date (for example, on a day). It does not allow you not to spend more than planned.
  • A credit card with a “grace period” service (usually 55 days), when it is possible to use credit funds interest-free.

Refusing to show off

Statistics show that the low group of the population spends the most money on so-called “status” goods relative to the volume of their income. Advertising strongly encourages the growth of consumer sentiment. A new iPhone is a life priority, even if you don’t have a penny to spare. If you have a weakness for buying things while obeying your pretensions, perhaps you should reconsider this life position.

Calculate the annual cost of your habits

Try setting the total cost of daily purchases for a year. This will clearly show you which habits are quite realistic to give up for long-term goals. You will probably be surprised at the amount that a daily Cup of coffee costs you per year.

Create a few accounts – each for a specific purpose

For example, to save money for a child’s education, car purchase, vacation, and so on.


Do not think that switching to economy mode will immediately bear fruit. This is not a short-term promotion, but rather a lifestyle associated with a healthy habit of saving and spending wisely.


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