Starting your savings
Building savings is not only beneficial for things you may want to do in the future, like buy a home or take a vacation, but also provides a layer of security in times of uncertainty.
A general guideline is to put at least 10% of your income towards your savings. Even if you’re currently paying off student loans or other debt, it’s essential to ensure you pay yourself too. Then, over time, as you make more, you can increase the amount you save as well.
- Write a list and stick to it:
Write a shopping list and stick to it to help prevent those impulse buys.
- Buy off-brand:
Many pantry basics can be as good, or better, than the brand name ones that cost more.
- Have a night in:
Instead of meeting friends for dinner, have a get-together at your place.