Method 1. Write down all the expenses.
This applies to the all purchases, including very small (the newspaper, a package of juice, ice cream). For some people to understand and adjust their spending it is enough to keep records for a few days. But better, of course, do it for a month or two. You will need to be scrupulous, but the effect will be felt.

At the end of each day write down all the purchases, then from this list, delete out the things without which you can do. At the end of the month add up all the sums that have been spent on unnecessary purchases. You will be shocked!

Method 2. Plan your budget.
Identify income and expense items. From the latter, point out the priority payments – mortgages, the approximate cost of food, utilities, etc. Calculating, albeit roughly these cost, you will know how much you may have money left. You can save from the family budget of about 5-7 per cent per month. After this planning, you can determine which costs you can cut, move or delete. The main purpose of such a budget planning is to figure out where the money go. And it must, in turn, to change their flow and direction of more necessary expenses.

Pay special attention to minor items of the family budget with small costs. Sometimes getting rid of them is much easier than reducing the cost of basic items. “It’s amazing, but if you adhere to the plan within one to two months, it produces a useful skill: to see where you can safely reduce your costs.

Method 3. Divide by the category.
You can plan your expenses by the category. To do this, please create an Excel file with records of expenses: food, transportation, clothing, entertainment, travel – sort, as you prefer. For each category make about the rate and watch how much more you can spend. The money between categories can not shift.

Method 4. Put aside money for the deposit.
Bank account – is money that could be useful to you in the rainy day or on any major purchase. How much to put to the bank? It depends on including how much you follow the above modes of economy. Of course, the amount will fluctuate from month to month: it may be from 5 to 40 percent of the salary. And it is important to contribute immediately upon receipt of wages, as long as you have not time to spend it yet. For some people it is easier to live and sleep better when they know that their money is in the bank.

Method 5. Keep your balance.
This method is a variant of the foregoing one; it can be used by those who receive a salary in the bank card. Savings achieved as follows. For each regular salary on the card must always be some amount of money – all on the same rainy day. If necessary, you can withdraw a certain amount. Only in the next month it is necessary to restore the balance on the card, respectively, you have to moderate expenditure.

Method 6. Do not get into debt.
Get into debt, as it is known, is much easier than to pay them out. Never borrow money. The only valid reason for the loan may be a situation when you forgot your wallet at home, and have no money in your pocket.

Economic recession has made many people look around for various ways to save money and saving money expert. Another part who already earned some cash and would like to make more, certainly might need mutual funds investment advice. Moreover, financial planning might be of great interest to young people as they need to cope with many things in their lives, and here financial advice for young people site could help them.

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