Just when you think you're free from the topic of "financial education," life proves you wrong? Even after getting out of debt and clearing your name, do you still feel the need to understand more about saving money and its endless possibilities? Come with us!
Many people manage to organize their finances but end up hesitant when it comes to taking the next step and learning how to save money by organizing for the future. If you have a project that hasn't yet come to fruition, or would like to have one but don't know how to plan, don't stay stagnant and follow the tips we've gathered for you!
Why is it important to save money?
Saving money is a very important step in any financial organization project. After all, this reserve allows you to avoid surprises and still achieve your dreams in the short, medium, and long term.
One of the most common questions about this topic is, primarily, how much should be saved per month. In reality, there isn't an exact amount, as it all depends on your financial situation.
An interesting way to consider when saving money is to think about saving around 10% to 15% of your net income – that is, after all deductions – monthly. So, let's suppose your net salary is R$ 2,000, the ideal scenario is to save at least R$ 200 after paying off all debts (to help you with these calculations, you can always use financial organization apps).
How can I save money to achieve my goals?
That being said, let's get to the tips to help you start saving and investing in your dreams!
Think about what this project represents to you
If you're just starting to plan and are unsure if you'll be able to save enough money, think about everything this project represents: will it make you happier? Have you wanted to do this for a long time? Will it help you achieve other goals?
If the answer to these and other questions is yes, you will truly be motivated to achieve your goals! Therefore, a good tip is to follow the next steps.
Define the cost of your project
First of all, do the math and determine how much the project in question will cost. At this point, include all the expenses you can foresee and add extra for unplanned costs.
In the case of a trip, for example, add up the costs of transportation (whether tickets or gasoline), accommodation, the attractions you want to visit, and also an estimate of how much you will spend on food and local shopping.
In the case of a renovation, remember the costs of materials and labor, and include an amount for possible unforeseen expenses (which almost always happen).
Make a calendar
Creating a calendar and tracking the days until a dream comes true can be a great source of motivation. Making that wait more visual can be an extra incentive to save money.
Create goals and deadlines
Determine how much you can save per month and set a goal to be achieved by a predetermined date. When you set a date and an amount to save, it's easier to avoid compromising your entire monthly income and to be able to save money. When setting this goal, remember your personal projects and use that as motivation.
Extra tip: when setting your spending goals or making your financial plan, always round your expenses up and your income down. This way, even if an unexpected expense arises at home, you won't stray too far from your plan and it will be easier to save extra money.
Pay all your bills on the same day
Change the due date of your fixed bills to the same date, preferably right after your paycheck arrives. This makes it easier to organize all your debts, because you pay everything you need to at once and have a better idea of how much you have left to get through the month.
Involve family members
Organizing finances isn't a task for just one person in the household. It's necessary to develop the habit of talking about money with your spouse and children. So, involve your family members in these goals, explain your monthly income, and discuss the need to save money.
This conversation is always worthwhile, but it becomes even more important when the plans involve everyone in the household, such as family trips or home renovations. In these cases, talking to the children and explaining that saving money is what will make these dreams possible is essential!
Plan ahead even with variable income
Self-employed individuals struggle more when it comes to saving money, since it's impossible to know for sure how much they'll earn each month. A helpful tip is to calculate your average salary over the last 12 months. Take advantage of this and analyze your minimum and maximum earnings, and see if seasonality affects your income.
From there, it will be easier to start your planning. Begin by listing your essential expenses and make sure they are compatible with your minimum income. This way, in months when you exceed the average, you will be able to save more.
Rethink your lifestyle
When shopping, for example, avoid using your credit card so much and try to go shopping with cash or just a debit card; that way you'll know how much you can spend (if you want tips on how to save money at the supermarket, just click here!).
Regarding leisure, these small changes can also be made to save money without compromising your quality of life. Instead of going out every weekend, for example, choose just one day and create other activities with the family on the remaining days. It's also worth using coupons, exploring cashback platforms, opting for promotional dishes, and enjoying free cultural events.
Treat your monthly savings as just another expense.
To avoid the temptation of using the money you would save on other types of purchases, the tip is to treat this percentage as a fixed expense. When you make your budget, include this amount and, on the same day you pay all your bills, transfer this amount to your savings.
Save extra money
How do you usually use vacation pay, the 13th-month salary, FGTS (Brazilian severance fund), and other extra income in your budget? If you want to save money to achieve your goals, the advice is to set aside these amounts. Even if you don't need them now, unexpected events can happen, and this extra reserve can be a great help in those moments.
Decide how you will invest your money
Saving money can be complicated, but the worst thing is investing it unwisely and not achieving your goals. Therefore, there are several possibilities, depending on your objective.
For emergency savings or short-term projects, it's important to choose an investment with high liquidity, meaning you can withdraw your investment quickly without losing money. Savings accounts are a good option in this case, as is a Certificate of Deposit (CDB).
For long-term investments, you can opt for options with low liquidity and higher returns, such as investment funds, Treasury Direct, or private pension plans.
After all these tips, is it easier to think of ways to save money?