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5 STEPS ON HOW TO SAVE MONEY EFFECTIVELY

Updated: Apr 13



It’s Monday when I’m writing this and as every beginning of the week comes, I question myself the same thing “Do I REALLY need this job?”. The truth is, I do. However, I don’t like admitting that too often.


I don’t believe there is anyone out there who loves Mondays. Or if it is, please say something and let us all, mortals, know what you are doing to enjoy such a gloomy day. It’s not really Monday’s fault. It’s the job’s fault. Having to wake up early, go to work, socialize and…work for I don’t know how many hours it’s tiring. Sometimes we scroll on social media and see all those beautiful influencers chilling at the beach with a cocktail in their hands while we are at work. That’s not very fun. We are envious of those people. We still tap like.


Even though we can discuss how we hate Mondays for the next 20 pages, I decided to write this post about how to save money. Now I know all of us here who have a job or even those who don’t, kind of know how to save money. I found a different approach that I will like to share it with you.


Saving money is very time-consuming. I say time-consuming because we have to make all those calculations and equations and think of everything we need and all the money that’s going on different things and if we need those and if we really need those…you know, basic things.


I started by making a very detailed list of what I spend money on and if I need to spend money on that. Sometimes, the truth is, I don’t. If you love coffee just like me, probably most of your salary is going on that.


1. Plan a budget

This one might seem easy for some of you. I created my own Excel document, where I made different categories for various things and their costs. I have two lists: things I need (utility bills, subscriptions etc.) and things I desire (dinner with my friends, concert tickets etc.). By having two separate lists, you divide your salary. You allocate how much you need to pay (mandatory) and how much you want to pay for things you want. You will keep clear evidence of your costs, and like this, it will be easier to understand where your money is going.


2. Save

Usually, I try to save at least 20% of my salary in a savings account. Like this, I have emergency money (which I cannot stress how important it is) and of course, allowance for holidays etc. I believe that everyone should try as best as they can to save up something of their income. You never know when you are going to need extra.


3. Don’t go over your head

Do you really need a new bag? I mean you just bought one last month. This is the conversation I have with myself. Sometimes we don’t need everything we want. Yes, it would be amazing to buy all the things we desire, but the truth is, even if we would have infinite income to spend, some things we don’t need… always think first at that. You can save up a lot by refusing to indulge in specific stuff. Rent goes in this category. Don’t spend more on the rent than you need to. I know, apartments are costly everywhere you are, but there are often cheaper alternatives (sharing a flat) than spending half of your income on rent itself.


4. Eliminate the things you don’t need to spend on

I dye my hair. And as much as I would like to go to a salon every month, I decided to dye my hair alone in my house, with no extra money. Try to find alternatives for expensive services which you can do at home.


5. Sometimes it’s okay to indulge

I know this doesn’t exactly fall under the savings list, but I do believe it is part of the process. Don’t feel like you are a slave to your money. It is the other way around. We all struggle. But if you want to indulge and go out, buy something expensive, go for it. Don’t live your life in the stress to accumulate more money. Sometimes it is okay to indulge. Don’t feel bad for that, you work hard, and you deserve it.


In case you need more help with saving money, I am thinking of sharing with you my own professional budgeting Excel. Let me know if you would be interested. How are you saving money? Write down below and let’s start a conversation. I would love to hear more from you.

So glad to see you here! 

I hope you got some awesome value!

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