On October 31, World Savings Day is celebrated. A key date that seeks to highlight the importance of saving in family and personal economies. This 2020 has been an economic blow in many Spanish homes. The pandemic caused by Covid-19 has marked a before and after in everyone’s pocket, but times of crisis are also an ideal time to reinvent ourselves and devise formulas that take advantage of our finances.
The world has stopped working as we knew it and now more than ever we must be aware of the importance of saving. In fact, according to a study carried out by the Dutch fintech Peaks, more than 88% of Spaniards are worried about their financial future.
To face this last quarter of 2020 and start the new year with an extra in your pocket, the micro-investment app has come up with these 5 tips:
Follow the 50/30/20 rule
It is a key technique to control monthly income. 50% of what you earn has to go to basic expenses, 30% can be dedicated to those whims you want and 20% of your income must be dedicated to saving for the future. So you can know where your money is going, and what amounts to save each month.
Plan a weekly menu
Organize meals by weeks to avoid eating out and buying last-minute treats. In this way, money and time are saved, for those who have to eat at work, leaving the prepared food containers in the refrigerator means not thinking about it for the rest of the week.
Become an ally of the lists
An ideal way to stay mindful of spending and wants is to create lists of those bills that can’t wait. This gives you an overview of what you can afford to spend.
Invest your money to maximize your savings
Having savings in the bank does not bring you any benefit. The solution? Make them grow by investing wisely. With the Peaks app, investing is a piece of cake. With just one euro, you can start investing your change in a simple way and almost without realizing it, you will see how your money gradually grows.
Visualize your savings goal
There is no greater motivation to generate savings than to keep in mind what you want to invest your effort in. From the house of your dreams to the most material object can be made possible if you focus all your energies on it.
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