Saving in times of high inflation and rising prices of goods and services is not easy. But if you think your salary is high enough to think about saving, but you still feel like money is just disappearing from your account, start with the basics.
The American website Fortune described the best ways to save money quickly. We have selected six of the most universal and simplest. If you don't know anything about saving, start by seeing if you can use the methods described below.
How to start saving money?
1. Think about your eating habits
One of the reasons we spend too much is eating out. For example, if it works for you, try making a meal plan once a week with a list of specific foods you'll need. When shopping, compare the ingredients of the brand name you want to buy compared to the non-brand name – they are usually cheaper.
2. Cancel subscriptions you don't use or need
Start by making a list of all the services you pay for, Fortune reminds. This can include streaming services such as Netflix, Apple TV, Prime Video or Spotify, as well as gym memberships. Note these costs and how often you used each of these services in recent months. Use this information to decide which subscriptions you can unsubscribe from. You probably don't need them all.
3. Change the way you commute
Fuel costs money. If you only travel by car, it's worth considering the possibility of even occasionally using public transport, or cycling, or maybe even carpooling with other people.
4. Consider changing your bank account
Changing your bank account number can be inconvenient. This involves a number of formalities including: setting up automatic transfers again. However, choosing the bank that offers the most favorable conditions can affect your savings.
5. Ask for a raise or look for a new job
Sometimes looking for savings isn't enough to improve our finances. It's worth finding out about salaries in your field. If the salary of people working in the same position is higher than yours, ask the employer for a raise. But often the best solution is to change jobs. As we read in Fortune , according to an ADP study, people who stay at the same companies can typically expect a 7.3 percent annual salary increase, while those who change jobs typically enjoy a 15.4 percent increase in salary.
6. Find an additional source of income
According to the aforementioned research, every sixth person chooses additional employment. There are many ways you can earn extra money today. The Internet helps a lot for this – you can do many "side" jobs without even leaving your home. Such additional work may include, for example, writing texts, managing social networks, mentoring – teaching, working as a driver or cleaning.
Fortune suggests that if possible, it's worth considering renting out all or part of your property, such as through Airbnb. You can also rent a parking space that you are not using.
Prepared on the basis of foreign websites
