PHBS

4 Easy Ways to Save Money.

Having enough savings means having a safety net that allows you to get financial freedom and although saving can be stressful and slow, it means that you have fewer chances of getting involved with a Credit Loan.

-Not seeing the money lying around is key to building your savings. Try opening an account with a different bank than the one you use on a daily basis and set up weekly or monthly automatic payments according to your income.

-Track your spending. It’s essential to be honest with ourselves and identify where our money is going. Once you have a diary with every expense written on it, then try to cut unnecessary things and put it into your savings account.

-Once you have grown your savings consider investing 30% of the total amount with a bank that offers you high-interest rates, or maybe it’s time to start a retirement account. (Take into consideration that Emergency Funds are not savings, and you should not invest money from your Emergency Funds because you can’t predict when you will need it.)

-Be Patient and don’t get discouraged, Saving takes time.

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