Many people complain about the lack of money, or that they receive their salary and in two weeks they are all gone, and they turn to pay day loans in Calgary. Recently the problem among young people with saving money has become a real one, even though today it is important to be financially stable because life is unpredictable.
The Reasons of Money Management Is Important
One of the reasons why people became unable to save money is advertisements. Even though some do not take it seriously, they influence us badly. We see ads basically everywhere â?? while watching movies and videos on YouTube while driving in a car and seeing them on the billboards and hearing them from the radio while scrolling through our phones â?? and advertisers' ultimate goal is to make us want the product. That is why they show tasty and unrealistic food, happy people, and the perfect life â?? to make us believe we need it.
Another reason why people can not save money is simple â?? financial illiteracy. Unfortunately, in schools, they still do not teach us anything about finance and money, but if they do, then it's too general or too complicated. Meanwhile, kids and teens in schools need a more easy explanation on how to behave with money.
Money has this phenomenon that makes you want to spend them â?? even on things you do not need at all.
However, start saving up right now. This money will be very useful later â?? and we are not talking about the times when you may lose your job or overall be in a very unstable situation. But even talking about small things, like having extra money in emergencies, or helping people when they are in trouble and being ready to do it without problems for yourself. It is vital to learn how to save up money, especially today when we are in the middle of a pandemic and an unstable economic situation.
Three Most Useful Tips on How to Save Money
If you want to start saving up, but you have absolutely no idea how to, or you have this issue with money when you feel the need to send them â?? the following tips are going to be very helpful.
Locked bank accounts are something that many banks do these days. It is a very modern and helpful concept of transferring money to a new bank account, however with a little trick - you can not spend the money on the account until your "goal" is reached. So, basically, you set a money goal that you would like to achieve â?? it can be like $500 or maybe even a few thousand â?? and you transfer some amount of money on it â?? either weekly or monthly, it does not matter. However, if your goal is not reached, then the money will be blocked, and you can not waste them on things. So it stimulates you to put more money on the account, meanwhile still helping you save some amount of them.
Prioritization is the key. You have to set goals, aim for something, be wise. It is very important to be conscious and mindful of your shopping habits. It is useful to start comparing prices and think through every buy you make because it can save you money. Even if it is grocery shopping we are talking about, ask yourself questions - do you need this product? Is this what you actually need, or is your mind tricking you into thinking it is? Mindfulness can be really helpful, and reflecting on your daily buying habits or remembering your initial goal is essential.
Start with little things. Baby steps are always a good choice. So putting $1 aside is enough to have something, to begin with. As in every other aspect of life, to improve any habit, you have to start small â?? tiny changes can lead to huge results. So do not pressure yourself. Start with as little as you feel, and then slowly put more and more money aside, and you will see how much you can save in a year or maybe more.
Finding a comfortable way of saving money might be the turning point for you. Luckily today, we have many opportunities to do so, even if you are too lazy to do it or too obsessive with spending money.