We can all save, from those who earn millions of pesos, to those who live with the minimum wage. Although it may not seem, it is possible to live without using the card to cover basic services or household expenses, and above all, separate a percentage of savings.
It is not a magic formula or a recipe from another world, but to make a correct distribution of the salary you receive month by month. Using these percentages and based on your total monthly income, you can calculate how much you should allocate to your debts, expenses and even savings.
Follow the following scheme:
1. 40% -> Debts (credit cards, loans, mortgage, etc.)
2. 40% -> Regular expenses (food, payment for services, cell phones, transportation)
3. 10% -> fun (eating out, going to the movies, etc.)
4. 10% -> Savings
Once you see how much the “ideal” results correspond
Check what the real numbers are, that is, how much you are going to each of these categories today. If the budget is tight, the ideal is to compare the different alternatives offered by banks, you find that it becomes increasingly difficult to pay the mortgage fee, to see what is the best offer you receive. If you do not have space for savings, it is probably because you need to reduce any of the other categories.
Remember that you can always adapt the model to your profile. For example, if your debts only require 20% of your salary, you could increase 5% to fun and allocate the rest to saving. The idea is to be strict enough to achieve balance and feel comfortable enough to persevere throughout the year that is about to begin.
Also remember to save your savings in an entity that pays you good interest, so you can see even higher returns.