Need to save? Nine tips to reduce your monthly budget

aPrices are rising, expenses are higher, so saving can seem like a more difficult task. a Doctor in Finance He sees that with this scenario, it is very important to control expenses to reduce the monthly budget and leave nine tips.

1. Reduce water consumption

“This is a really ‘old’ recommendation that we should try to adopt as a habit and not just because of the high prices. Reducing water consumption, in addition to helping reduce the monthly bill, is an important measure for us to help conserve our planet’s resources. It can start with actions Everyday, like turning off the tap while brushing teeth and washing dishes, for example.”

2. Reduce electricity costs

“There are several ways to reduce the value of your electric bill with small gestures in our daily lives. The simplest and most obvious is to turn off all the lights in the room when we are not leaving them. Another very effective tip is to change the incandescent bulbs. Your home with LED lights.”

3. Eat fewer meals outside the home

“Lunch or dinner at a restaurant, or breakfast at the bakery near your home can be the perfect escape from the daily routine. However, when it becomes a regular habit, it presents a brave hole in the monthly budget.”

4. Going to the supermarket? Only with a menu and no hunger

“Many of us make this mistake and all too often: we know we have to go to the supermarket because we’re missing something at home, but we don’t really know what. As a result: we end up bringing in more than we need because we doubt whether missing or not”.

5. Set a monthly budget and stick to it

“Planning monthly expenses and noting all expenses is a great strategy for understanding where you can save. You can start by creating an Excel file with “mandatory costs,” such as, for example, housing credit, electricity, water, internet, etc., write after That’s all extra expenses (like meals out, buying new clothes, among others) and you’ll have an estimate of your monthly expenses.”

6. Have you heard of the 50/30/20 rule?

“A good way to be able to budget your family is the 50/30/20 rule. This formula suggests breaking your monthly expenses into three parts:

• 50% of the monthly budget should correspond to fixed expenses, as mentioned earlier: house rent, utility bills, food and transportation costs, etc.
• 30% can be used for non-essential expenses, such as travel, meals out of the house, and the purchase of new clothes.
• 20% of the amount should be used to pay off existing debts or create an emergency fund. Hence, he is always prepared to face possible setbacks in the future.”

7. Say no to food waste

“Laziness or ignorance can lead us to throw out leftover meals that can be perfectly used later. Take some time to plan meals for the week to avoid wasting food and use up what’s left for lunch the next day.”

8. Consider investing your savings

“In times when inflation doesn’t subside, like now, money in ‘freeze’ begins to lose value. This happens because purchasing power is reduced, so the ideal solution is to start investing your savings.”

9. Renegotiation can be the key

“Often we look at renegotiating contracts as a result, i.e. we see it as the last alternative to avoiding default. However, reviewing the terms of your contracts—whether it’s personal loans, housing loans, insurance, or the Internet, among others— It can actually help you save a few hundred euros.”

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