Saving money is easier to do than to say. If looking at your current account and monthly expenses you are assailed by a sense of discouragement and panic it’s time to do something to improve the control of your economic output items.
How to Save Effortlessly
According to industry experts and financial advisors, all you have to do is change your everyday habits to save up to 500 euros a month because, without realising it, we all waste what may seem like a few bucks a day but which, multiplied by 365 days a year, translates into a little treasure.
The most obvious example is that of coffee at the bar. For the few who are the coffees that an average Italian consumes every day outside the home are at least two from the cost of 1.20 euros each that make 2.40 euros a day that multiplied by 7 days a week 16.80 euros that per month are 67.20 euros that in a year make 806.40 euros spent on coffee. And with 800 euros more on the current account you pay a mortgage installment or, the luckiest, can treat yourself to a small holiday.
The example of coffee is what is done by analysts to show how easy it is to throw away money without realizing it and how the savings of every penny, on a large scale, can make a difference in the budgets of the family.
Millennials with pierced hands
Among the age groups, the ones who spend the most are young people between 23 and 37 years old. In fact, a recent Bank of America report – Better Money Habits Millennial Report – found that 73% of millennia spend too much on unnecessary things and have no idea how to save money.
Business insider experts, to meet the needs of the handicapped kids, have compiled a vademecum of simple tricks to make sure the little piggy savings swell up and the credit card doesn’t get thinner.
The 48-hour rule
The results – especially the kids – show that they spend too much on online shopping: simple, convenient and just a click away.
The advice is the 48-hour rule.
When you put any product in the shopping cart via the web, it is a good idea to wait 48 hours before completing the purchase in order to avoid the compulsive impulse to shopping and have time to reflect on the real need for this or that product. Still on the subject of online shopping, experts recommend deleting your credit card details from e-commerce sites to prevent the click on “pay now” from being even more convenient.
The costs of urban mobility
In everyday life, on the other hand, one of the most influential items of daily expenditure, especially in large cities, is mobility: public transport tickets or petrol account for 25% of the monthly budget.
In this case, the concept of a shopping pyramid applies. The car is only worthwhile if you share the cost of petrol with friends or colleagues who travel the same daily route, otherwise it is cheaper to use public transport and prefer the monthly subscriptions (even better, annual) to daily tickets. Even more convenient is to move, where and when possible, on foot: you save the money of the car and also those of the gym since the physical activity is guaranteed by walking.
Meals outside the house
Another item of expenditure often underestimated is that relating to meals away from home. If you also 10 euros per drink and sandwich is 50 euros per week (on five working days) that make 200 euros per month which is 2,400 euros a year: money, so much money that instead of ending up on the accounts of this or that bar remain in the piggy bank.
Better, then, organize with DIY menus that you take from home optimizing spending and also taking care of health as the home food is certainly healthier and more varied than that consumed every day at the usual bar.
Another example of a superfluous purchase is that of alcoholic beverages that are consumed when you go out.
Finder.com recently conducted a study according to which 64% of adult men drink at least one alcoholic beverage a week, while the percentage for adult women is 52%. Again, the 20 euros of alcohol spent on an evening with friends can remain in the wallet if you consume water instead of beer with benefits for both health and the current account.
The value of the piglet
Even the value of money is hardly ever considered.
Each of us, in fact, accumulates every day a good amount of money in his pocket or on the bottom of the bag. If that coin is placed by the whole family in a common piggy bank in the evening, it has been proved that within 12 months you would have paid for your holidays.
If you are not satisfied with this type of saving or if you think it is sufficient, you can also rely on one of the many financial planning apps that offer a way to save money by monitoring expenses and alerting the user to the problem areas of daily outflows.
Cutting unnecessary expenses can be done by
Going even deeper, another piece of advice is to be patient and compare the monthly statements of the bank by screening all the expenses item by item in order to isolate and identify those unnecessary and then change their habits.
In the end, using these little tricks, experts have considered that you go to save up to 500 euros every month in a year are 6,000 euros, a respectable figure that it is convenient to keep aside for each family.