Periodic saving: how to increase it with no effort

Periodic saving: how to increase it with no effort

Periodic saving: how to increase it with no effort

Find out how to optimize the “family budget”

Periodic saving: how to increase it with no effort

Each one of us has, at least once in life, imagined how thing would be if we had 1 million. It is far less common to ask oneself “How much money can and should I set aside each day, month, or year to reach my goal of one million?”.

The first thing to consider is why do we save in the first place. Usually, we save to deal with unforeseen future events, maintain your current level of income into the future and, finally, to achieve a very specific goal: to buy an asset, start a business or, as in my case, to reach One Million for my Daughter.

You’ll be surprised how, with little effort, you can save a lot of money. Easy adjustments, like small changes in consumption habits and a more careful management of finances, allow you to significantly optimize the “family budget”. The first thing to know is that, although many believe financial well-being depends on the amount of income, in reality, it depends much more on expenses: that’s why it is essential to control them, otherwise after a while they will control you.

Try to imagine your household like a business …

… then you’ll need to draw up some sort of Profit and Loss Account and Balance Sheet. Don’t worry, no accounting expertise is necessary, as they won’t have to follow any particular criteria, but simply have the dimension of our financial health. Consider it a financial check-up!

If you’re interested in knowing how to do it and, most importantly, in finding out more about inputs and tricks to increase periodic savings, try and read this book. Because personal finance is made of numbers, they are protagonists here, but you don’t have to worry. You’ll be able to understand what’s explained in the book even if you’re not an expert in mathematics. All you need is good will.

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Pietro Di Lorenzo