Tips to Start Saving for a Rainy Day

3 Tips to Start

Bad times always come at some point of our lives. It doesn’t matter if you have a great job and a good house, saving money provide both rich and poor peace of mind for future inconviences. Here you have 3 SIMPLE TIPS TO START SAVING MONEY FOR A RAINY DAY regardless your economical situation.

1) Open a saving account

The first thing you must do if you want to have a real control on how often and how much money your saving is opening an BANK ACCOUNT EXCLUSIVELY FOR YOUR SAVINGS. You can arrange with your bank to have an automatic transfer from your regular account to your saving account on the first of every month. Doing so, that amount will be out of sight before you start paying bills and daily expenses.

It doesn’t matter what’s your income level, you can start with 5$ if you want and increase it as time goes by. The point here is too be persistent.

2) Evaluate your budget and expenses

Most of the times, we buy more than we need. Some people don’t realize the reason they have to work extra hours to make ends meet is the mishandling of their personal finances.

START CHECKING YOUR MONTHLY EXPENSES and classify them by categories. You can write them down to see it more clearly. Then look for which of those expenses are really necessary and which can be replaced for home activities. Maybe your are spending too much money in restaurants, then it’s time to cook more at home and invite family and friends to come over.

If you are spending too much in utilities like internet or TV, maybe it’s because you have one provider for each of it. A solution is looking for a company that allow you to bundle your services.

3) Sell the things you don’t use anymore

Garage sales are common ways to get rid of many things peope don’t use anymore. Search for those unused things (clothes, shoes, cooking tools, anything is possible) and do some Internet research to see how much you can get for them. Finally, ORGANIZE YOUR OWN GARAGE SALE. I’m sure someone will be interesed in that bike you haven’t used for years or in that jacket which never fit you well.

If you don’t like yard sales, you can choose to sell in websites like eBay, Vinted or Facebook Marketplace.

WITH THIS TIPS YOU CAN START SAVING TODAY, AND IF A RAINY DAY COMES, YOU’LL HAVE A UMBRELLA THAT PROTECT YOU.