How to Save Money on Low Income You Must Know – Info Jambi Now

How to save money on a small salary may be very inconvenient for some people, including you. You need the right strategy to be able to manage finances with a small salary or tend to be mediocre. However, when you have found the right rhythm in managing small income, this is no longer a problem. Here you can learn how to save a very limited or small income.

How to? see how to save money on low income below.

1. Create a Budget

A monthly budget is one surefire way to save on a mediocre income. Make a budget list every month, especially when you are going to do your daily grocery shopping. This budget is an estimate of expenses that must be prepared to buy goods that are included in basic needs.

The amount of this budget is estimated according to the price of goods on the market. Make sure to budget carefully. Try spending to meet daily needs can be less than the budget that has been made, avoid spending more than the budget that has been prepared

2. Set aside money at the beginning

In addition to preparing a budget, a way to save money on a small salary is to set aside income at the beginning. When you receive income, don’t use it right away, try to divide it first before spending it.

For example, liquid salary money, immediately set aside 20% to be saved in savings. This method can limit excessive spending. Of course, this method will work if there is a commitment to yourself, you will never take savings money if it is not in a very urgent condition or when the saving target has been achieved.

3. Looking for Additional Income

If the salary is very suitable for basic needs or daily needs, then it is necessary to look for additional income. Now there are more and more side jobs that can make a lot of money. This side job can be a job that matches your interests or skills.

4. Pay off and Stop Debt

When financial conditions are chaotic, usually a quick way to overcome this is to get into debt. It’s better to pay off the existing debt immediately and don’t do it again in the future. It’s good if you want something that you don’t really need, you don’t need to go into debt to get the item.

If you have to owe, do it wisely. Don’t owe more than you can afford and don’t delay repayment. After that, you can set aside money to save.

5. Get used to saving

Most people think that a small salary will not save money. This cannot be used as a benchmark, as long as there is a will, of course, saving can be done even if the salary is small. Set aside even a little money for savings. This is a way to save money and suppress cravings for unnecessary items. You can save by opening a new account devoted to saving money. This is information that reviews how to save money when your income decreases. The key is intention and sensitivity in distinguishing between needs and wants. Always prioritize needs over wants and make saving like a need so you can get used to living frugally. May be useful.