5 challenges to achieve savings if it has been proposed this year

5 challenges to achieve savings if it has been proposed this year

The time to start realizing the purposes and goals of the new year has already begun. However, when it comes to saving many people they do not know where to start. This may be because they do not have a savings habit. Maybe the proposed savings goals are not very realistic.

Challenges to achieving savings

We have 5 challenges to be able to achieve it and that if saving is one of your goals for this new year, start now.

1. The challenge of the bags

The challenge is to have several bags in which you will deposit an amount of money for a certain expense. You must also fill the envelopes every certain time that is proposed. It is considered a form of savings because you should not use more money for each goal, purpose or expense you have of the one in the bag.

If you have finished the money before filling the bag, you must wait or make cuts in the other expense bags.

If there is money left, deposit it in another bag and do not use it for waste. It could be considered an emergency amount.

2. The challenge of no expense

Basically nothing of expenses that are not necessary. First, you must start by making a list of the expenses that are necessary and of which you can do without.

Avoid spending at least 2 months on those things and you will see significant savings. Now, if you want to take things further, try for a year.5 challenges to achieve savings if it has been proposed this year

3. 52 weeks of challenge

It is a very simple and fun challenge, the best of all is that you could get up to 4000 pesos when you finish the challenge. First, you must establish a goal for these savings and thus not discourage yourself.

The simple part is that each week instead of saving more, it will be less than at the beginning. It is recommended that you start the first week saving 100 pesos, the second week 99, the third week 98 and so on. You can extend the savings for more than 52 weeks if you wish since the amounts will be smaller and could be more achievable.

4. Challenge of the 10 pesos

You should get a container for this challenge. A 2.5-liter family soda bottle is recommended, of course empty.

Inside the bottle, you will deposit all the coins of 10 pesos that you get. The bottle will fit approximately 10,300 pesos.

Check This Out: HOW TO BE EFFICIENT IN YOUR PERSONAL FINANCES

5. Rounding in purchases

On each occasion you make purchases, try to round the amounts to zeros. For example, if you buy something at 55 pesos, save 5 pesos of savings. You can use several forms of savings, one is to keep it in a piggy bank and not know how much you have until it is full and you should get the money. The other is to write down everything that comes in through a notebook or app and if you have a goal to reach, once you reach that amount take the money and start again.

It is not difficult to start with any of the savings challenges you choose but to keep it. These examples start with simple ways to save at home, of course, you should always remember that formal savings methods help protect your money against the loss of value by inflation.

Related posts

Leave a Comment