Some tricks to save a life by savings.

Everyone's life is different. Some people are rich and some people are not. The dress they wear, their character, the way they talk, everything has changed in some way. In today’s situation, these things are determined by money. Do you agree with that? If you are good enough to buy some high-paying things, then you must be the richest man in the world point of view. If you ask what the reason behind it is, only money. For example. If you earn $1000, it is worth it. But at the same time if you spend everything for that month. Is it worth it? You have to save something.

Everyone's thought might be why?

We are here to enjoy our life by having delicious food and for that only we are earning. Why do we have to do such things? One thing you have to remember is “The future is unpredictable”. Anything may happen tomorrow. It's not in our hands. You may not feel well, or you may need to resign from the job. You won't believe the job, as well as the same situation will exist in future too. At that time savings plays a major role.

Now you have some idea why to save? Then move to how to save. Everyone has a different opinion about saving plans.

My strategy

Step 1

4-2-4 policy

4 means 40% of the income for your rent.

2 means 20% of the income for your other expenses.

4 means 40% of the income for your savings

For example. If you're getting $500 as the income. That $200 is for rent, $100 for your other expenses, and the remaining $200 is for your savings. This is the first step in how you have to spill the money.

Step 2

Having multiple bank accounts is the best option. For example, a minimum of 3 accounts is fine. One for getting a salary and another one for monthly expenses and the third one for savings. The account where you are savings doesn't have any debit or credit cards to get money. Only thing is to add the money, not subtract that.

Step 3

Avoid online payment

Before 2 or 3 years everyone has some money in their hand. At that time, we don't know that this much impact will arise. Now without online payment, we are nothing here. We are addicted to that just like alcohol and spectacles. If we take cash as $20 means, we buy the items or take food within that limit. But when we go through the online payment, there is no limit. At the end of the day, there's nothing in our account. So, try to take cash in your hand.

Step 4:

Piggy bank

In the olden days, our parents used to save money with this method. Do you ever think why aren't we following these types of methods? Again, only reason is digitalization. Try to collect and save the coins as much as possible. One day it will be useful for some emergencies.

Step 5

If you have a thought of savings with some interest want to happen simultaneously. There are two ways to invest and earn.

Savings account that has been shared already. By saving the amount in savings account you may gain some interest on a monthly basis.

Invest in gold. If you are buying the gold by paying some amount. After 1 year definitely, there will be a hike. The loss will never happen until you don't sell it in the price-increasing time. This is also one of the best ways to save.

I think this might be very useful for you. Try it and let me know if this is helpful and encouraging. If you find this piece interesting, please consider leaving a ❤️, or even a tip. Your support means a lot to me as a writer! You can also read more of my stories here.